What is an Innovation

Step 3 *ASK QUESTION*

WEIGHT: A) Calculate Averages B) Weight / turn each data set into a percentage C) Add Scores together*?* D) Compare 5's, 6's & 7's

Cycle 1 Video Title

What is an Innovation?

If you're not meaningfully unique

You's better be cheap

If your skills & abilities are so meaningful & unique

Companies are willing to hire and promote you

Why does innovation matter to companies?

Compared with other strategies (low cost; quick delivery; voice of customer; high quality), Innovation delivers the highest profit

Jstor Scale

0-10 Scale Rating

Who are innovations meaningful to?

1) It matters to the customer 2) It matters to the organization providing the innovation 3) It matters to the leader of the innovation

What Measures are most predictive of an ideas commercial success?

1) Overall LIKE and purchase intent 2) How new and different it is to them

Jstor ratings of 5,6,7

5 Above Average Innovation; 6 Good Innovation; 7 WOW Innovation

Step 2

ASK: How likely to buy; How new & different (using Jstor Scale)

Simple Language Definition of Meaningfully Unique

An idea so meaningfully unique others would be willing to invest their time & energy in helping you AND so new to the world that it's patentable AND you have passion for it AND customers are willing to pay more $ for it

Irreverent Definition

Doing cool shit that matters

Sub Skill A

How to know an invention when you see one

Continuous Innovation

Interrupts the typical Business Life Cycle and creates ongoing growth

Left Brain Definition of Innovation

Like / Purchase Intent + New & Different

Meaningful

Meaning; Purpose; Value; Significance

Right Brain Definition of Innovation

Meaningfully Unique

Unique

Novel; Unusual; Provocative; Unexpected

Creativity

Originality

Innovation

Productive Imagination - Making Ideas Real for a Purpose

Innovation

Productive Imagination; Positive Change; Ideas for Working Smarter; Making a Difference

This 3 Step Process enables

Risk Adjusted Forecasting

Step 1

SHOW: a rough concept that explains idea

Invention

Technical Creativity

Why is being able to identify, how big an innovation is, important?

To know if the change is worth doing; to know if a Company is worth working for; to know if you should invest in a company; to know if it's a cause worth volunteering for; and it helps grow your ability to get a new or better job