Test Your Business Model Innovation Options for Enthusiasm and Pilot the Winners

Why Enthusiasm Matters in Business Model Innovation

• Excitement Drives Success: Successful business models often emerge from processes that generate enthusiasm. Reflect on your company's past achievements; they likely involved moments of excitement despite challenges.
• Inspiration and Belief: When your team believes in the potential of a new business model, their motivation and creativity increase, leading to higher chances of success.

Involving Your Team in the Innovation Process

• Participation and Control: Allowing your team to choose the innovation process fosters a sense of ownership and control, enhancing creativity and commitment.
• Enjoyment and Engagement: People are more likely to invest time in activities they enjoy. Choose processes that are not only effective but also enjoyable for your team.

Practical Steps to Pilot Innovation Processes

1. Identify Enthusiastic Processes: Determine which processes excite your team and are likely to succeed.
2. Pilot and Learn: Implement these processes on a small scale to identify potential issues and gather feedback.
3. Iterate and Improve: Use feedback from the pilot to refine and enhance the process.

Learning from Setbacks

• Embrace Temporary Failures: Like children learning to walk, temporary setbacks are part of the learning process. They provide valuable lessons and insights.
• Avoid Over-Planning: Excessive planning for rarely used processes can lead to misunderstandings and incomplete preparations. Focus on practical experience and feedback.

Gathering Feedback and Making Improvements

• Feedback Loop: After piloting a process, gather input from participants and observers to identify areas for improvement.
• Speed Up Progress: Brief, practical experiences can accelerate learning and innovation more effectively than extensive planning.

Additional Insights

• Statistics on Innovation: According to a study by McKinsey, 84% of executives say innovation is important to their growth strategy, yet only 6% are satisfied with their innovation performance (source).
• Unique Perspective: While enthusiasm is crucial, some experts argue that a structured approach to innovation is equally important. Balancing excitement with a clear framework can lead to more sustainable success.

Conclusion

Innovating your business model requires processes that generate enthusiasm and are easy to implement. By involving your team, piloting new ideas, and learning from setbacks, you can create a dynamic and successful innovation strategy. Remember, the key is to balance excitement with practical experience and continuous improvement.

Copyright 2008 Donald W. Mitchell, All Rights Reserved