Killer Innovations with Phil McKinney - A Show About Ideas Creativity And Innovation

Outsourcing your innovation process is an exciting way to increase innovation competitiveness. Utilizing organizations like an innovation agency can allow firms to focus on other business areas. The results are increased efficiency, improved quality, faster innovation implementation, reduced innovation risk, and increased flexibility. Outsourcing innovation can be a powerful tool to help companies speed up their growth. By understanding the risks and challenges, companies can set themselves up for success. 5 Outsourcing Models 1.     Project-Based Innovation Useful for specific projects, specialized skills, or testing out new relationships. 2.     Joint Venture for Innovation This collaboration can benefit companies wanting to share the risks and rewards associated with innovation. 3.     Innovation Strategic Alliance. Beneficial for companies wanting to combine resources and ideation expertise to create a competitive advantage. 4.     Innovation Licensing Agreement. Agreements allow access to another company's technology or expertise. 5.     Innovation by Acquisition. Allows companies to add innovation capabilities or enter a new market quickly. Innovation Outsourcing: Successes and Failures In Apple's work with Foxconn, it outsourced its product manufacturing. The outsourcing allowed Apple to focus on design and development, while Foxconn created innovations to produce the products. As a result, Apple could bring new products to market quickly and efficiently. On the flip side, BlackBerry's work with TAT failed. TAT was supposed to take over UI/UX development, helping recapture market share from Apple and Android. TAT and Blackberry could not develop an operating system fast enough to keep up with the competition. BlackBerry lost market share, and both companies had to fire staff. Keys to Successfully Outsourcing Innovation Have a clear understanding of what the company wants to achieve.  Have a strong relationship and be able to work together effectively.  Ensure companies can trust each other.  Ensure both parties are willing to invest the necessary time and resources. Look for companies with a proven track record of innovation. Understand the company's business model and how it aligns with yours. Understand their capabilities, including strengths, weaknesses, tools, and processes. Understand their team's culture and skills. To know more about outsourcing innovation processes,  listen to this week's show: Should You Outsource Your Innovation Process? RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Design plays a vital role in our lives and is ever-evolving. In the past, it meant designing or planning something. In the early 1800s, the term was synonymous with art, and in the late 1900s, it referred to creating products or services. Over time, design has gone from being a specialized field tied to specific design movements to a more holistic approach. Now, it's a way of thinking that considers the entire design process from start to finish. In today's rapid and ever-changing world, businesses need constant innovation. This is where design thinking shines through. What is Design Thinking, and Why is it Important? Design thinking is a process that allows the design of products, services, and environments to be developed in an iterative design cycle with continuous feedback. It helps designers create innovative solutions by applying constraints like time and money. Solving for constraints is an iterative process of design, testing, and refinement called the “design thinking cycle.” Innovators use this process to create solutions no matter the constraint. It focuses on a user-centric approach used in many fields. It is an adaptable process that can design for changing needs. 5 Skills Needed for The Design Thinking Process 1. Creativity Creativity allows designers to develop new ideas and find innovative solutions to problems. 2. Problem-Solving The  approach, based on the idea that there is no one right solution to a problem, is vital to come up with multiple possible solutions. 3. Critical Thinking Designers need to think critically to determine great ideas with practical solutions. 4. Collaboration Designers need to collaborate to brainstorm and come up with the best possible solutions. 5. Communication Designers must communicate effectively to share ideas, get feedback, collaborate, and explain ideas to management and stakeholders. The Future of Design Thinking and Innovation 1. Healthcare: Healthcare design can improve patient safety, increase access to care, and reduce costs. 2. Education: Design can improve student learning by making it more accessible, enjoyable, and affordable. 3. Transportation: Design innovation in transportation can improve safety, reduce congestion, and increase efficiency. 4. Technology: One of the main goals of design in technology should be a human-centered design to improve usability. To know more about innovating with design thinking,  listen to this week's show: Innovating with Design Thinking. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast  

The science of creativity has many theories and ideas that seek to explain it. New approaches and models are constantly emerging, which provide some insight but are not exhaustive. One theory suggests that creativity combines cognitive processes, including knowledge, imagination, etc. However, proof shows that experts and those with fresh eyes can often be creative in the same area. Creativity Models The four-phase model comprises the following phases: preparation, incubation, illumination, and verification. The preparation consists of gathering information and materials, developing a plan, and finding inspiration. Incubation is utilizing deep thought and focus on developing the idea. Illumination is where the idea's potential is visible, and the execution around it is understood. Verification consists of evaluating the worth of the idea to those working on it and those it will impact. The creative abilities model outlines five creative abilities: fluency, flexibility, originality, elaboration, and synthesis. Fluency (ideation) is the ability to produce several rapid ideas, allowing for exploration and experimentation. Flexibility allows people to adapt to new situations and environments. To measure originality, compare your idea to existing ideas, research patents, etc. Elaboration is taking an initial idea and making it more comprehensive and complex. Synthesis is taking ideas and concepts from different sources and combining them into something new. AI and Creativity Some people believe that AI could eventually become creative. Because there is no absolute definition of creativity, it's difficult if this will come true. In the meantime, researchers are working on ways to make AI more creative, such as by developing algorithms that can better identify and combine novelty and usefulness. Creativity and Mental Illness People correlate creativity with mental illness because many creatives have spoken about their mental illness struggles. Some studies have found links between specific mental illnesses and increased levels of creativity. The currently available evidence does not support the myth that creativity and mental illness are linked. To know more about the science behind creativity,  listen to this week's show: The Science of Creativity. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Chronic innovation critics are people and processes that kill new ideas before they can thrive. They prevent you from trying new things and learning from failures. The criticisms may result in your organization getting stuck in its current state. Innovation critics love to point out why an idea will fail. These people are often the ones who have been with the organization the longest and are the most resistant to change. All organizations need people to push back and challenge ideas because it improves them. The key is to combat them with specific, objective, and actionable criticism. Four Reasons Innovation Critics Kill Ideas 1.     The Ego Response “Oh, I already thought of that a long time ago.” “Somebody else has already come up with that idea.” Your idea makes these people feel threatened, but you can strategically turn things around. Appeal to their ego by infusing any feedback they give into your idea pitch to gain their support. 2.     The Fatigued Response “You’ll never get approval.” “We tried that before.” Innovation critics are often burned out from having their innovations rejected. The key is to find a way to demonstrate that your idea will not play out their worst fears about repeating past experiences. 3.     The No-Risk Response “Not enough return on investment.” “We can’t afford that.” Some innovation critics fear risk as it can negatively affect their careers. Get them comfortable with risk by breaking your innovation into smaller steps. 4.     The Comfort Response “We’ve always done it this way.” “Our customer likes it this way.” These critics may have outdated thinking about what success looks like. It’s up to you to convince them that what makes up success may well have changed. The Intent of The Criticism With each of the four responses to your ideas, these critics can be constructive or destructive. These will be dependent on their intent and how feedback is received. Identify which of these responses you typically get, and then try to understand their motivations. If people tend to dismiss your ideas, try to explain your vision in more detail or share data supporting your case. To overcome chronic innovation critics, encourage a diversity of perspectives, make it safe to fail, and reward innovation. This action will help to create a culture of innovation within an organization. To know more about chronic innovation critics,  listen to this week's show: Pushing Back on The Chronic Innovation Critics. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Innovation storytelling helps capture people’s attention and connect with them on an emotional level. This connection allows you to get your message across in a way that is both memorable and meaningful, leading to lasting change. Storytelling can help build an innovation culture in an organization, inspiring people to ideate and take action. Additionally, it can help create a sense of community and collaboration. Storytelling can also attract support such as funding or partnerships. There are two types of storytelling: origin stories and innovation stories. An origin story typically tells how a company or product came to be, while an innovation story focuses on a specific new idea or invention. At Techtrend, innovation storytelling is an integral part of the innovation process. Teams use storytelling to prototype and test new ideas with customers and users and communicate innovation results internally. As a result, people get excited and are more likely to be committed to the innovation’s success. 7 Tips for Successful Innovation Storytelling 1.     Finding a great story that highlights the innovation Identify key points of the story and write in a way that hooks readers from beginning to end. 2.     Make sure the story is interesting and engaging It would help if you found an interesting story that highlights the innovation and is authentic. 3.     Communicating the story clearly and concisely You must understand the different elements that make up the story to do this. Present drafts, early versions, and the final draft to test audiences, colleagues, and friends, to collect feedback. 4.     Make sure the story is relevant to your audience You must understand the audience’s interests, concerns, fears, and hopes to keep things relevant. Once you know that, you can frame the story relevant and interestingly. 5.     Create authentic stories Authentic storytelling needs to be true to the storyteller’s or audience’s current and future experiences. 6.     Keep the story concise Keeping things concise gets your point across quickly and effectively. 7.     Using innovation storytelling is just one part of a larger communications strategy Successful companies know that storytelling is one of the most powerful ways to connect with customers and inspire their teams. Storytelling can help your company stand out from the competition and become a leader in your field. Techtrend has years of experience creating successful storytelling campaigns for a wide range of clients and tools and resources to distribute the story. If you’re looking for a company that can help you with your innovative storytelling in a powerful and impactful way, contact us at hello@techtrend.com. To know more about innovation storytelling, listen to this week's show: How to Use Innovation Storytelling. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Craig Leddy of Interactive TV Works joins us to discuss innovation in the media industry. Innovation in Media and Entertainment Most people don’t think of the media industry as a driver for innovation. People tend to overlook that things like cable TV took decades to get to today. In the media and cable industries, the process behind the technologies tends to get overlooked. People look at pioneers such as Ted Turner and think they were overnight successes. These things took time and tons of effort, and many unsung heroes were along the way. While there are big players such as Comcast, Spectrum, etc., many small cable operators are still there. These companies build out fiber and work hard to close the digital divide. Although not as large as before, the entrepreneurial spirit is still alive in the cable industry. The Two Dimensions of The Digital Divide COVID-19 opened people’s eyes to the two dimensions of the digital divide: availability and affordability. Major companies and the Whitehouse and SEC just agreed to create a broadband offer at an affordable price. While these companies in the cable industry compete, they collaborate when it is the right thing to do. Craig has run the Interactive Case Competition for 11 years with graduate-level students. The competition presents real-world challenges to students and brings industry experts to guide and coach them. The last competition focused on figuring out how to motivate people to connect once broadband is widely available and affordable. The winning team from Drexel University created a plan where households with students could get more broadband at an affordable price. This competition, along with the CableLabs 10G Challenge, is an excellent way for innovators to help improve impactful technologies. Consumer Security and Privacy Concerns Security and privacy are key issues in the tech world today for individuals and corporations alike. Many companies have no choice but to put up big safety walls to keep them protected. Whether you are a large or small company, security is a problem you must deal with. On the other hand, individuals have more freedom to ignore these worries. With all the ransomware headlines popping up these days, some people feel safer offline. There will no doubt be people who don’t trust broadband once it is widely available. It will be interesting to see how companies present broadband to those who have never been online. About Our Guest: Craig Leddy  Craig is a leading authority, writer, lecturer, research analyst, and historian on the cable industry, broadband, interactive media, television, digital technology, and wireless. He serves as the Founder, President, and Senior Market Analyst at Interactive TV Works, a consultancy based outside New York City. With over 30 years of business and tech writing experience, previously including top editor positions with Electronic Media and Cablevision Magazine and columnist for Multichannel News, he was inducted into Cable Pioneers in 2020. To connect with Craig, check out his LinkedIn here. To know more about innovation in media and entertainment, listen to this week's show: Innovation in Media and Entertainment with Craig Leddy of Interactive TV Works. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

This episode is a commencement speech I virtually gave on the biggest barrier to innovation. The  Biggest Barrier to Innovation Fear is an unpleasant emotion caused by the belief that someone or something is dangerous and likely to cause pain or a threat. For humans, fear tends to build on itself. Fear stands for false evidence that appears. Our brains can take “false evidence” and twist it into the worst potential outcome, making it “appear real.” This occurs as we strive for perfection, whether as an employee, spouse, leader, parent, or in this case, a student. The reality is that nobody is perfect, and failure is an unavoidable part of life. The most successful people have become “comfortable” with the education failure brings. Avoiding the Conformity Trap The real problem is conformity, thinking and acting the same as everybody else. No matter how much you conform to what others are doing, you can't avoid failure. Taking what we think is the “safe” approach puts us at more risk. It takes bravery to step out and leave the warm space of conformity to try something new. The world is rapidly changing. What constitutes success in the future won't be the same as in the past. When I started my career, the definition of success was doing tasks my boss assigned to me. In the new creative economy that we are moving towards, the definition of success is creating valuable ideas that solve problems. In a recent study, only 25% of the population believe they are creative and offer value through their creativity. So why do 75% of the population think they cannot contribute to the creative economy? They don't see being creative as normal and fear the uncomfortable risks innovation brings. Society needs your human ingenuity and creativity to solve some of our biggest problems and create opportunities for the future. Welcome failures and step out to unleash your creativity today! To know more about barriers of innovations, listen to this week's show: What is the Biggest Barrier to Innovation? RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

An innovation strategy is a plan outlining how a business will create, develop, and bring new products or services to market to gain a competitive advantage. A strategy guides the efforts of individual employees or entire teams and tailored to the organization's unique needs. It also helps ensure the organizations' innovation initiatives remain competitive and relevant. Businesses without innovation strategies lose to competitors. What's in an Innovation Strategy? 1. A definition of innovation This definition includes things like creativity, risk-taking, and newness. Understanding these terms ensures everybody is on the same page when brainstorming and developing new ideas. 2. A description of the organization's innovation process This description helps team members understand how new ideas are developed within the organization and provides a framework for brainstorming and ideation. The description tells how ideas are generated, evaluated, and implemented and explains the overall innovation management approach. 3. Identification of the organization's innovation goals Goals should be specific, measurable, achievable, relevant, time-bound, and aligned with the organization's overall business strategy. A goal example is to develop a new product that will generate a specific dollar amount within a particular timeframe. 4. Identification of the organization's key stakeholders Key stakeholders could be the CEO, senior management, marketing department, and R&D department. It's essential to identify and consult with them when developing the innovation strategy plan so they can provide input and help to ensure success. 5. Identification of resources needed to support the innovation strategy It's crucial to identify financial and non-financial resources to support the plan, such as funding for R&D, marketing, employee training, office space, equipment, and software. 6. A timeline for implementation An implementation timeline helps team members stay on track and ensures meeting the plan's goals within the set timeframe. The timeline should be specific, including milestones to meet the goal. 7. A plan for assessing the success of the innovation strategy This assessment plan should include the number of new ideas generated, the number of ideas implemented, and their level of impact. It should also have feedback from employees, customers, and stakeholders, which can be used to adjust the innovation strategy. 8. A system for documenting and sharing best practices To ensure best practices are shared and implemented, organizations should have a system for documenting and sharing them accessible to all employees. This could be a database of best practices, a wiki page, or a blog. 9. Guidelines for evaluating new technologies The evaluation should include a review of the technology itself and its feasibility for implementation. The team should also assess the risks and benefits of using the technology and whether it aligns with its innovation goals. 10. Procedures for handling intellectual property rights This section is essential because it outlines procedures for protecting and managing the organization's intellectual property and should include a plan for dealing with intellectual property disputes. 11. A policy for innovation training and development This policy should outline the types of innovation training and development programs available to employees. It should also include a plan for assessing the effectiveness of the programs and provide guidelines for how employees can access them. 12. A budget for implementation The budget should include funds for R&D, marketing, employee training, and a fund for unexpected expenses. It's essential to regularly review and update the budget and consult with team members to ensure everyone is on the same page. To know more about creating an innovation strategy, listen to this week's show: You Need an Innovation Strategy. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Let's continue our series about the innovation agency and explore why organizations hire them. Hire an Innovation Agency To help with creative problem-solving. An innovation agency can help organizations find new solutions to their problems. These agencies bring new perspectives and stimulate creativity, allowing companies to overcome roadblocks and generate new ideas. To help with product development. An agency can help organizations develop new products that meet customers’ needs. By working with an agency, companies can access the creativity and ingenuity of the team that can help them create innovative and commercially viable products. To help with business model innovation. An innovative agency can help organizations innovate next-generation business models and test them in live settings. This process accelerates adoption. To get access to creative talent. An agency has a diverse team of highly skilled and creative professionals. Creativity is a skill that can be taught and learned, but it’s usually not something you’re born with. Thankfully, there are plenty of ways to cultivate creativity in yourself or your team. One way to do this is to hire an innovative agency! To get access to resources. Innovative agencies typically have a wide range of resources, including funding, mentorship programs, outsourced manufacturing, channel partners, and workspace. These resources can reduce the time it takes to bring products or services to market. To accelerate commercialization. Agencies can also help organizations with the commercialization process. They can help identify and assess marketing trends and opportunities, develop testing plans, and create channel partnerships to get products and services onto the market. To help drive business growth. An innovative agency can also help organizations create and execute their growth strategies. This process includes helping to identify new markets and the latest products and services for these new markets. Access to new technologies. Many agencies have strong relationships with technology providers. These relationships can be helpful for organizations looking to stay competitive in their industry. Through access to technological advancements, agencies can bring their clients the most up-to-date and innovative technology for their innovation efforts. Expert advice. Innovation agencies have significant experience with ideation, product development, business model innovation, and commercialization. Companies can access this expertise and learn from the agency’s experience. To outsource innovation. Innovation agencies can also help companies outsource their innovation efforts. Outsourcing can be helpful for organizations that don’t have the time or resources to do everything themselves. The Benefits of Working with an Innovation Agency Access to creative talent. Creative agencies typically have a team of highly skilled and creative professionals and connections with other organizations, such as designers, marketing agency leaders, and PR experts. Specialized expertise. Innovation agencies can help you turn your idea into a reality, whether you’re a young startup or an established business. Their expertise can help you ideate, brainstorm, conduct research, create prototypes, and launch products. Faster turnaround times. Innovation agencies can often turn around projects faster than consulting companies. Their team of experienced professionals and network of contacts can help you get your idea into the market more quickly than you can do individually. Lower costs. Innovation agencies typically offer lower costs because of their deep expertise and experience. They also have access to a broader pool of creative talent, which drives down the cost of services. Greater focus on innovation. An innovation agency is focused exclusively on helping clients achieve innovation goals. In contrast, a consulting company may have other priorities that can distract it from providing the best possible service to its clients.   To know more about hiring an innovation agency, listen to this week's show: Why Do Organizations Hire An Innovation Agency?  RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Let us explore what an innovation agency is and how it can help bring you more success in the challenging innovation process. Why Hire An Innovation Agency? Innovation Agency is a term created to distinguish agencies that specialize in innovation from the agencies such as advertising, design, marketing, and PR agencies. An innovation agency specializes in helping businesses create, market, and sell new products and services. They use a team of experts to help your business with everything from ideation to execution. An innovation consulting company allows companies to improve their innovation processes. They rarely have ideation, prototyping, product development, and launching expertise. However, they can help you develop a better process for coming up with new ideas and bringing them to the market. The crucial difference here is that an innovation agency specializes in assisting clients in creating new products, services, or business models. In contrast, innovation consultants typically advise improving existing products, services, or business models. Characteristics Of An Innovative Agency Agencies have innovative staff with access to creative resources, such as design studios and marketing agencies. They have a track record of helping clients successfully innovate. Innovation agencies can help clients innovate in several ways. First, they help identify and define problems that need solving. Second, they provide access to creative resources like innovators, design studios, prototyping experts, engineering expertise, and product launch expertise. Last, they guide and support clients through the challenging innovation process. An innovative agency specializes in taking ideas and turning them into new products, services, and business models. They can help clients overcome challenges that many organizations experience in translating an idea into an innovation. They help clients identify and assess opportunities, understand the customer and their needs, and develop a strong business case. Innovation agencies also create prototypes and test them with customers. They specialize in scaling innovations, protecting and commercializing them, managing risk, and making innovations sustainable. Using an agency with a deep track record of helping clients achieve success is an excellent way to increase your chances of success with your innovation efforts. When you choose the right agency, they bring together the expertise you don’t have to improve what you have. They have the experience and knowledge to help you navigate the challenges during the innovation process. This can be extremely helpful in ensuring that your innovation efforts are successful. Innovation Agency Resources If you want to learn more about innovation agencies and what is involved, start with a quick Google search of innovation agencies. There are several of them that specialize in different industries. Second, stay tuned, as I will share more about these agencies and why and how to leverage them to your benefit in future episodes. Last, check out Techtrend Group at techtrend.com. Full Disclosure — Techtrend is the innovation agency I started in 1996 and am now the Chairman. That said, I’m not that involved in the day-to-day at Techtrend. They just recently relaunched their site and updated their project portfolio. They specialize in tech, consumer electronics, architecture, and digital immersive media experiences. Techtrend will give you a good view of an innovation agency. To know more about Techtrend and other similar agencies, listen to this week's show: What Is An Innovation Agency? RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast