5 Ways to Innovate Faster
One of the most common complaints senior executives have about disruptive innovation is its seemingly snail-like pace. How is it, they wonder, that it takes us forever to pursue ideas that promise to create new markets when the world seems to be innovating at a dizzying pace?
- Form small, focused teams. Small teams almost always move faster than large teams. One of Jeff Bezos’s rules of thumb inside Amazon.com is that teams should be able to be fed by no more than two pizzas. The mistake many large companies make is that they think a new venture is like a mini-version of the core business, one that needs to be staffed with representatives from corporate functions like legal, quality assurance, and so on. Bloated teams are ill-equipped to rapidly search for a compelling model; small, nimble teams maximize flexibility and the speed of learning. Ideally the entire team should be fully dedicated and located together so they can make real-time decisions, but at the very least the project leader should be full time to minimize time-sucking distractions.
Read the other tips here.