A super condensed personal key takeaway from Corporate Innovation Summit 2019, #CIS2019. It was such a pleasure to meet the greats of our world!
CIS2019 Stage
>> Building the Culture of Innovation
- Business a Port Folio - Creating new innovation, feeding them into the “exploration and exploitation” metric of risk and return
- Fuji and their skincare product line, which launched when Kodak died
- Optimizing existing innovation will only make you die more efficiently, you need new innovations
- Proving Concept - Desirability: Do they want it?, Feasibility: Can we built it, Viability: Can we generate value?
>> Disrupting Inside-Out & Outside-in
- Silicon Valley start-ups will eat your lunch, you need to be ready for it
- Corporate who actually have vastly more resources can actually fight with the right mindset and set up
- Use available resources, match with customer pains, and making “Experiments + Small Bets”
- “Be Bold”, the preconditions for success - Full-time team, Strong team leads, Access to seed funding, Fully engaged New Venture Board, early consideration of post-incubation governance options
>> Creative Confidence - Unleash Creativity In You
- Lisa and her pinata cookie - Believing in your own creative potential will make you readily beam confidence to take on any challenges
- Delivery of simplicity is usually the product of endless wrestling with complexity
- Elmo’s Monster Maker in 1 hour - It’s not about fancy concepts, it’s about painting the future in the mind of the clients
>> Lessons Learned from X - The Moonshot Factory
- Risk will always be proportional return, aiming for a moonshot means failing ... alot
- The team needs to be psychologically ready to fail, they need to feel safe to fail
- Tackle the most difficult part first, that is what matters
- Aim for 10X, not 10%
>> Visual Innovation - Draw to Win & Innovate Faster
- Visual is a universal language, every single person who sees will understand
- The 30 images flash - Visual will make things clear, and the image will remain for a long long time
- The Innovation Cycle - Pattern Breaking and Pattern Optimizing which every model will go through
- Peet’s Coffee & Tea, the origin of Starbucks - Staying original, seeing the future clearly
- Discover opportunity from problems, flip the negative