Want market leading growth? You don’t need a benevolent dictator at the helm. You don’t need a Silicon Valley address. You don’t need high technology, and you don’t need magic. What you need is discipline. Follow these eight steps to embed robust innovation into your growth strategy.
How does your company plan for the future? Rather than just conventional business strategy, add an integrated innovation strategy. Your best growth is balanced growth.
Designers know that form follows function. Organization designers know that structure follows strategy. Don’t design your innovation function until you’ve agreed what it’s meant to achieve, and the essential organizing principles.
Smart investors optimize returns by balancing risk. Spread your growth investments across a portfolio of possibilities. Consider this mix, across three horizons of risk & return.
Richard Branson, much like Steve Jobs, made a virtue of failure. His high-profile successes overshadow the failures that taught him where and how to mine growth: fail fast, fail often, fail learning. Fail forward.
To build the platform everyone wants, plan the party everyone wants to attend. Then throw the doors wide open.