The Experience Strategy Podcast The 6 Reasons Innovation Fails With Dwayne King
In today’s episode, we are joined by Dwayne King who works at the intersection of experience transformation, human-centered innovation, UX design & research. His unique view of organizations has allowed him to diagnose the real reasons 90% of innovation labs fail. Tune in to learn how to lead the other 10% and set your innovators up for success.
IN THIS EPISODE:
- [04:40] Pursuing the wrong idea can be one of the key elements why your innovation efforts might fail right at the beginning.
- [08:12] Companies no longer need to stay within their category. Dwayne shares an example of a company that successfully expanded out of its category.
- [15:08] Two important elements of design thinking that need to be considered during the innovation process.
- [22:00] Common funding mistakes that most companies make right off the bat.
- [26:09] Three challenges that companies face when transitioning from an innovation experiment into a full-blown product.
- [34:12] Importance of structuring innovation teams for success.
- [40:20] Why product managers might not be as successful on an innovation team.
- [44:43] How lack of the leadership and culture to support innovation within an organization sabotages innovation.
KEY TAKEAWAYS:
- Just because there's a problem to solve, it doesn't mean that it's your problem to solve.
- Stop making big bets and instead make smart bets by starting with the right insights and design thinking.
- Transition through innovation stages consciously and ensure that the right teams, technology, and investments are in place at each phase.
- Build a well-rounded and empowered innovation team and oversight board. Slapping titles and labels on these things does not make them a reality.
- Foster a culture of innovation from the top all the way down. Innovation only happens in an organization that is primed to incubate and embrace innovation.
LINKS MENTIONED:
BIO:
Dwayne King
Dwayne built his career at the intersection of experience transformation, human-centered innovation, UX design & research. He leverages these lenses to generate meaningful change within organizations that helps them connect with their audience to create positive business outcomes.
He works across many industries in a multitude of problem spaces. Because of this, he is an expert learner, quickly transforming from a questioning student to a confident strategist and leader regardless of the problem space or industry.