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From the Publisher
What Is High Velocity Innovation?
High Velocity Innovation is the ability to deliver new solutions that generate value for you and your customers at a rapid pace that is timed to the needs of your customers, markets, and businesses.
An innovation is a novel approach to solving a problem, perhaps one that customers don’t know they have. This implies that the innovation is something new—something that’s never been done before. It also implies that innovation has a purpose. It’s not pure research to advance the state of human knowledge and it’s not pure art for creative expression. It accomplishes something meaningful for your company, your customers, and your investors.
Core Problem
The core problem with innovation in established companies is that there is a lack of pull for it at every level. At the executive level, leaders go away on strategic retreats to define grand strategies but then manage as if short-term results are all that matter. Middle managers try to protect their groups from the demands and failures of innovation programs by keeping their heads down and focusing only on the current business. Individual contributors find that their best ideas get ignored and innovation projects are on the bottom of the priority list. Skunkworks team members find themselves isolated from their peers who are working on the current business, and lack the critical voices they need to avoid making big mistakes.
The Unit of Work Is the Experiment
In the physical world, it’s not so easy to break features down into user stories that are independent of each other. Even a basic feature like turning the ignition in a car requires most of the car to exist. Until it is, the best an engineer can do is mock-up the experience to learn how it should work. It will have to be finalized when enough of the pieces come together, and they don’t come together all at once.
It’s possible to use agile software methods for managing the activities of engineering and other aspects of innovation. An engineering team that makes something new builds the product “pattern” in the form of drawings and CAD models, process definitions for assembly, and formulations. Some teams have put these into user stories, alongside other work.
That doesn’t help them as much as it helps the software teams because the problem isn’t the prioritization of a list of things that could be done; it’s the flow of knowledge to support decisions about many things that must be done.
Rapid, Honest Feedback
Innovation velocity isn’t just felt within the team; it’s also felt by the leadership team that gives the innovation team a greater share of its time and attention. That makes it easier for the leadership team to go on the innovation team’s journey with them, so that the team gets rapid feedback from leadership about the direction they’re headed. Yet some executives think that the best approach is to leave an innovation team alone.
Some innovation programs waste away because the team has been given money, resources, and time to push an idea onto the rest of the company. However, no one likes to have things pushed at them, and therefore resist the attempts to get them interested. This is especially true if nothing else in the company is generating a need for High Velocity Innovation.
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