A perspective on being curious: No.5 of 26: Ground it in value!
In previous ‘perspectives’ I have mentioned that I feel some organisations have succumbed to pressure and allowed random acts of inno
vation to take place in recent years; resulting in wasted time and resources being used on the wrong ideas. This is mainly due to ideas not being grounded in value.
Before any ideas start flowing, a clear business challenge is needed, which is aligned to a specific financial variable that can be positively impacted.This means from the beginning we have an indication of the value of solving a challenge. This is particularly important when you are asked the critical question I mentioned in ‘perspective 4’; “is the juice worth the squeeze?” Furthermore, it allows for modelling and hypothesizing the incremental lift in a specific variable once ideas have been generated – this is curiosity grounded in value (and reality)!
So, how else can we ensure that work only takes place on challenges that create measurable value?