John and Navin are great innovators, our session went well and I think the insights are worth sharing. The session was on how we can better learn from failure and we focused on three elements. Here you get the notes:
Culture/environment: Smart failing equals success! Innovation by chance or serendipity is rare and rather the organization needs to foster a culture and environment that encourages failure as a success. Tolerance will evolve with success.
Organizations need more Type 2 people who are fearful of missing out on opportunities – check this article on Type 1 and Type 2 people: Why Failure Drives Innovation.
Speed: Many people equate innovation with speed. Seeding an idea is just the beginning. The challenge is to bring the idea to life to gain investment.
Low resolution is key for prototyping and companies should also prototype the right experience, not just the product. Prototyping the right user experience can drive solutions that are quickly adopted.
Process: Innovation needs just the “right” amount of process. Too little process fosters creativity, but is difficult to commercialize the idea. Too much process, it becomes slow and highly political.
Clorox has a “learn, build, prove” process that carefully assesses the market opportunity before committing to heavy investments in manufacturing and marketing. It is a measured approach that helps to minimize potential risk.
I think you get the idea from these notes…