The Innovation Equation is really an incredibly interesting and realistic theory. We are often so worried about whether or not we are doing things “right” or “wrong” that we begin to overanalyze the problems and tasks in front of us.
These concerns over the differences between right and wrong often lead us to failure. It makes logical sense that to be concerned over doing something correct will lead to success, but realistically our fears usually hold us back from experimentation and creativity. Therefore, the probability of a mediocre or lackluster end result is higher.
The Innovation Equation focuses mainly on four key elements: insight, execution, probability, and time. These aren’t the only key inputs you need to consider when reviewing a project, but they’re certainly amongst the most important.
Insight is one of the most important concepts. You must be able to look at a project, understand where there are opportunities and then create a series of ideas that will bring you to an ultimate solution. You’ll have to use probability equations to determine the likelihood of some of your ideas being successful, and you may be surprised at the results. Sometimes ideas that seemed logical don’t work while those that seemed outrageous produce results far better than we ever could have imagined.
If the culture of your organisation supports innovation and creativity then you will see incredible results from your employees and team members. If not, you’ll see a lack of enthusiasm and will likely find yourself dealing with negative project outcomes more often than you’d like. Why not allow your employees a little more room to breathe creatively while working?
Originally published: 25 November, 2008