As the venerable Jeff Goldblum uttered in Jurassic Park when being chased by T-Rex... Must go faster. Often, when attempting to innovate, enterprises suffer from two types of innovation blockages in the front-end that cause good ideas to die on the vine. First, many organizations are ill-equipped to turn their domain experts, their employees, their users, their brand advocates, into ideation contributors. Keep in mind, a contribution in the very front end of an innovation cycle could be the idea itself or validation that the idea is actually a really good one! Secondly, a traditional choke-point happens after top ideas have been vetted and now it is time to execute by implementing the top ideas. At this stage, companies often can't bring ideas forward fast enough because of a lack of bandwidth, capability (talent), or budget. (Or some combination of the three) We use this simple funnel during presentations and ask: Are you living on the left side of this funnel or the right side?
Quite literally, if your hopper isn't full enough with good ideas to begin with and you are failing to bring many of the ideas forward due to some constraint, then your likelihood of actually implementing a winning idea diminishes greatly. Instead of hoping to get lucky, a mature crowdsourcing approach would effectively blend innovation management software to help identify the top ideas, paired with an innovation execution engine allowing you to execute on as many of the good ideas as possible. Our friends at Spigit recently invited us to take part in their end of year webinar entitled: 2015 Innovation Insights & 2016 Innovation Predictions. Topcoder's GM, Mike Morris was one of the panelists discussing the ways in which enterprises use crowdsourcing to find more opportunities and take more swings at innovation by executing on the top ideas.
Please enjoy the webinar in its entirety above and to whet your whistle, here is a quote from Mike Morris that we think is worth repeating:
"Failing fast is a positive... but don't lose sight that success is only measured through the wins... and more specifically how those wins affect the business."
Keep your hopper full with the right ideas through crowdsourcing. Execute on those top ideas through crowdsourcing. Implement the best solutions and win more often. Must go faster? Use crowdsourcing.