Installment #2 of The Innovation Minute. Today I discuss differentiation, a critical aspect of improving innovation ROI. You can watch all of the videos here.
Transcription:
Today I want to talk about the first part of my FAST Innovation Model which is the F, which means focus.
There is a belief in the world of innovation that everyone should be innovating. And I absolutely agree with that. But there’s also the belief that everyone should be innovating everywhere. And this is a mistake.
Not all opportunities in your organization are equal. You can’t try to solve every problem, because if you try to be great in everything, you’ll be great at nothing.
Therefore, I always say, “Innovate where you differentiate.” Innovate where you differentiate. Focus your energies on those activities and opportunities that will have the greatest impact in your organization because they’ll help you stand out from the competition.