How to embrace innovation

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What I should have learned at SHOP.ORG’S Digital Summit

Transcript of How to embrace innovation

Page 1: How to embrace innovation

What I should have learned at

SHOP.ORG

’S

Digital Summit

Page 2: How to embrace innovation

So, 5,000 digital retail professionals, dozens of keynotes, workshops and sessions, a few drinks, some good times and… what was it, again, that I learned at Shop.org’s Digital Summit?

No worries. We’ve got your back — and we took notes. This is the second in a series of reminders of just what it was that you learned in Dallas.

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5 tips for embracing change

“There will be failure in innovation. Failure is your friend. Failure is a natural part of the innovation process. So embrace that and get comfortable with it.”

-- Oscar Castro, principal Creare Ventures

Photo by Mike Wilson published under Creative Commons license.

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1 Understand degrees of innovation

Innovation can be incremental or disruptive. Is your organization ready to be disrupted?

Heinz turning its ketchup bottle upside down is incremental. Uber is disruptive.

Photo by Just Jefa published under Creative Commons license.

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2 Be honest about your tolerance for change

• Innovation is like the weather: Everybody talks about it. But not everybody is ready for it.

• Make sure you know how ready your organization is for change.

Photo by Franck Michel, Creative CommonsCreativecommons.org/licenses/by/2.0

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3 Be clear about the innovation budget

Photo by ptmnoney.com, Creative Commons.

Make sure you know how your innovation initiatives fit into the big picture. How much of the overall budget can be dedicated to new ideas?

Remember, as you lead innovation, you’re going to be flying the plane while rebuilding it.

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4 Create an innovation culture

Photo by Marat Gilyadzinov.

• Failure is a bad thing in stodgy corporate culture. Failure is a data point in an innovation culture. Embrace it and learn.

• Build a culture that revels in innovation. Think differently. Take chances.

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5 Prepare to manage differently

Photo by Mark Mauno published under Creative Commons license

Remember, the way your organization has always done things is what got you where you are. You want change. That means

you have to be ready to manage differently. Doing the same thing, expecting different results = insanity.