We all want to be more innovative, don't we?
The desire to be more innovative is like baseball or mom's apple pie. It's hard to argue with. It just feels good. It feels like the right thing to do.
Then why are so many large, established companies struggling to be more innovative? Why are they struggling when their markets are being disrupted by new technologies and they can't move their businesses to where they need to go?
For most large enterprises, their greatest strength is also their greatest weakness. The enterprise is designed to deliver incremental, predictable, growth and consistent earnings results. But what happens when current markets are melting before our eyes and new markets are popping up overnight? This process is too disruptive and enterprises aren't set up to handle it well.
Enterprise infrastructure that supports sustaining innovation becomes the primary obstacle when disruptive innovation is present. Significant Cultural and Structural Barriers exist within the enterprise that kills innovation and the organization's ability to move quickly and with a customer-focused mindset. When this happens, innovation projects fail, executives fail, employees fail, and the enterprise fails.
There are many, many cultural and structural barriers that are getting in the way. Here are some that we observe most often in the enterprise:
- Fear of failure
- Expected value bias
- Business case bias
- Execution bias
- Alignment bias
- Retirement bias
- Functional hierarchy
- Political bias and adverse selection
- Incentives & capped upside
There is good news, we are happy to report to you today. The barriers preventing your enterprise from moving faster, being more customer-focused, being more innovative and growing faster...these barriers can be eliminated. What's been frustrating to you for all this time doesn't have to be frustrating any more. There is a new way to do this. There is a new horizon up ahead.
We have learned the secret to making your organization more nimble, more effective and more innovative. The secret is to unleash the intrapreneurs that already exist inside your company. These visionary leaders are being held back by bureaucracy, an execution culture and stifling processes that work well only for established business. By turning these leaders loose to solve real customer problems, your company can transform itself from a slow growing behemoth to dynamic and innovative enterprise.
Our solutions are designed specifically for your situation. Our approach varies depending on how quickly you have to move and how much internal resistance your company currently has for innovative thinking. The description below provides guidance as to which solution is most appropriate depending on your predominant corporate culture.
If your culture is open to learning new things and new ways of developing innovative products and services...
...then the solution is our Three-Day Lean Innovation Bootcamp and Intrapreneur Apprenticeship where we will teach you how to innovate like a successful startup.
Our Three-Day Bootcamp is an immersive, hands-on experience for potential innovators who want to learn how to SEARCH for a new business model and EXECUTE a new model once it's validated. Teams assemble in groups of four to six people to work on real company projects. During the three day period, teams will run five experiments with real customers. These well-crafted experiments generate tremendous insight that will help the project become a marketplace success.
Our Intrapreneur Apprenticeship is a three or six month program designed to deliver meaningful business impact and to transform high-potential employees into effective intrapreneurs. Each team is assigned an experienced coach who provides helpful guidance and mentorship throughout the process. By the end of the program, the teams will have made an impact on your business and have learned how to deliver real innovation within a large enterprise.
If your culture is open-minded, but is having difficulty delivering a meaningful business impact...
...then the solution is our Entrepreneur-In-Residence (EIR) program where we will inject entrepreneurial grit directly into your innovation team.
Our Entrepreneur-In-Residence (EIR) assigns an experienced entrepreneur to your innovation team to help provide the right attitude and mindset for the group. In our experience, the mix of players on an innovation team is critical. Our EIR's are coaches and mentors, but they are also players. As player-coaches, EIR's work as part of the team to provide perspective, energy, excitement, grit and the ability to get things done in the face of uncertainty. Adding an EIR or two to your team will dramatically improve the odds of success.
If your culture has difficulty creating disruptive innovations or is exclusively focused on running the core business...
...then the solution is a Dedicated Innovation Outpost where we will build a disruptive business for you.
Our Dedicated Innovation Outpost an outsourced team of experienced entrepreneurs who are focused on building disruptive businesses for the enterprise. The Innovation Outpost is the best way to build disruptive innovation quickly and to overcome the cultural and structural barriers that can stifle innovation in large enterprises. The Innovation Outpost comes with rapid prototyping capability to build digital and mobile solutions designed for maximum learning and customer insight. The Outpost uncovers customer problems, develops prototypes, tests hypotheses and discovers a scalable, repeatable business model in the target area. Read on for more details on the Innovation Outpost and our line up of innovation solutions.
Introducing The Innovation Outpost
Re-Invent Your Culture And Become More Powerful Than Ever
InsightStudios is for large enterprises who want to move faster and become more innovative in rapidly-changing markets. Our solution, an Innovation Outpost, is a comprehensive training, coaching and apprenticeship program that transforms practitioners and executives into highly-effective intrapreneurs. Unlike trendy innovation programs that don’t have a lasting impact, our multi-year Innovation Outpost program provides the intellectual, psychological and emotional transformation necessary to develop and unleash intrapreneurs in the enterprise. The result is a highly-defensible human capital asset that puts the enterprise on the offensive, blunts emerging startup threats and positions the business for hyper-growth in an emerging areas.
- Three-Day Lean Innovation Bootcamp
- Innovation Accelerator
- Entrepreneurs-In-Residence (EIRs)
- Dedicated team of four to six experienced, disruptive entrepreneurs focused on creating new business models that can become new engines of growth for your business
- Disciplined process called Insight-Driven Iteration which is a proven method for creating hyper-growth in disruptive environments
- Mixture of external entrepreneurs and internal innovators to facilitate knowledge transfer, cultural transformation at learning
- Venture-like management process using well-defined milestones, business progress reviews and funding "go" or "no-go" decisions based on investment readiness level
- Team is assembled in local market or in Silicon Valley, the largest, most dynamic startup ecosystem on the planet
- Highly-effective innovation team of killer entrepreneurs who have previously disrupted industries before and unlocked millions of dollars in value
- Defined business model hypotheses, carefully architected to create disruptive innovation in a defined market or opportunity
- Rigorous analysis and hypotheses testing, designed to test the riskiest assumptions of the venture in question
- Deep customer insights based on well-crafted experiments and data collected during the experimentation process
- High-fidelity and low-fidelity MVP's (Minimum Viable Products) designed to test value proposition with customers
The Innovation Outpost solution comes in three flavors, depending on budget constraints and how quickly you want to move. Each solution includes our hard-earned entrepreneurial DNA, which permeates everything we do.
The Lean Innovation Bootcamp is an immersive training program designed to provide your project team with an introduction to lean startup principles and methodologies using our Insight-Driven Iteration framework. Available in one-day or three-day formats, teams will learn how to find and validated a scalable, repeatable business model for their projects. Each team will run real-world experiments with real customers and uncover tremendous insight on their idea and how it will perform in the marketplace. The result is a newly-educated team who now has the ability to move faster and create a bigger business impact. Lean Innovation Bootcamps are customized to each company's unique requirements. The Bootcamp costs $1,000 per person per day. Minimum fees may apply.
The Lean Accelerator is a comprehensive Intrapreneur Apprentice program designed to transform your people from regular employees into Lean Intrapreneurs. To accomplish this objective, we assign an experienced Entrepreneur In Residence (EIR) to your existing project team. The EIR will guide the team in the application of lean startup principles, ensuring the introductory education from the Bootcamp takes root. Unlike the Bootcamp, the Lean Accelerator is designed to deliver business impact. In addition to business model validation, the Lean Accelerator focuses on Resilience Psychology, and the power of collaboration in a Mastermind Group. These three elements of Insight-Driven Iteration, Resilience Psychology, and Mastermind Groups are a powerful combination that will transform your employees into effective Intrapreneurs, which is the missing element in many corporate innovation teams. Lean Accelerator programs start at $10,000 per month per team depending on the scope and scale of the engagement.
A Dedicated Innovation Outpost is an outsourced team of experienced entrepreneurs who are focused on building disruptive businesses for the enterprise. Instead of waiting for disruption from a Silicon Valley startup, the Innovation Outpost empowers the enterprise to create its own startup as a defensive measure and an exciting growth strategy. Because the team is made up exclusively of outside entrepreneurs, the team is highly-effective at discovering and scaling new engines of growth that are outside the enterprise's business model. Unlike internal innovation teams, a Dedicated Innovation Outpost avoids the baggage that typically stifles innovation in the enterprise, namely fear of failure, hierarchical organizational structure, business case metrics, and a host of other enterprise biases that exist in almost all large enterprises.
The Innovation Outpost typically creates a new entity that is outside the enterprise, which allows the team to truly operate like a startup in every way. An Innovation Outpost also provides an equity incentive for the sponsoring enterprise which allows the sponsor to purchase the startup at a pre-determined price at anytime in the future. In our view, this structure and financial model is vastly superior to waiting for a winning startup to emerge, paying a massive premium to acquire it and then struggling to integrate it while not destroying the culture that made it great. 95% of acquisitions fail to achieve their financial objectives and a Dedicated Innovation Outpost is simply a better alternative. The cost of an Innovation Outpost ranges from $100K to $1 million per quarter per team and includes 100% of the staffing an operational costs.
Create Your Innovation Outpost In Your Home Market Or In The Heart Of Silicon Valley
We've partnered with enerspace and wework to provide physical locations for your Innovation Outpost. Set up an InsightStudios Outpost in Silicon Valley or in your corporate location. If you aren't sure where to set up your Outpost, go west young man!