The old way versus the new way.
🏛️ The old way:
- Stumble upon great opportunities and invest in them
- Put lots of money into the project
- Manage the project based on financial performance
- Fixated on a small portfolio of 5 to 10 project
🏢 The new way:
- Have a clear innovation strategy to scout for new opportunities inside and outside the company
- Make a lot of small betsusing an innovation system to find the home-runs
- Build a portfolio of 25 to 50 innovation projects, of which you can quickly and easily kill or scale individual projects.
- Manage your portfolio based on innovation accounting
Innovation systems > trusting experience and gut feeling.
Don't create unicorns,
Let's breed blue whales. 🐋