Here is the transcription for Episode 11 of the Invisible Solutions podcast. It’s not perfect, but if you prefer reading vs listening, this is the way to go. Enjoy!
What if all problems are equal yet, some are more equal than others?
Welcome to Invisible Solutions. I’m your host, Stephen Shapiro. Each week, we tackle your most complex problems using the lenses from my book, Invisible Solutions. If you need the lenses, go to getthelenses.com. And with that, let’s get started with today’s episode.
Today, we’re going to explore why we need to prioritize our innovation investments.
We’re going to need to determine what are our most important problems. What are our biggest opportunities? In his book, Animal Farm, George Orwell wrote “All animals are equal, but some animals are more equal than others.” This is an important mantra to remember when creating an innovation program. All problems are equal, but some are more equal than others.
You don’t innovate the same way for every opportunity in your business.
In Episode 9, I talked about why you want to innovate where you differentiate. What’s most important to your business? Why do customers do business with you and not someone else?
When I asked this question of CEOs, top executives, employees, and others, there’s typically a very long, uncomfortable silence.
Clearly defining your focus will help you allocate your innovation investments much more effectively, but most people don’t think of their business in these terms.
Let’s talk about how you prioritize your investments in time and money.
Once you identify your differentiator — the reason why people do business with you and not someone else — you can then use this information to develop your operating strategy. This is the way you run your business. This is how you prioritize your investments. Continue reading >>