When it comes to early stage innovation, we can’t rely on metrics such as ROI or NPV to determine success, particularly given that such metrics favour short term returns whereas disruptive innovation can take years to deliver the kind of returns that large companies are seeking.
Most of us are familiar with Maslow’s Hierarchy of Needs. The theory on psychological health is now almost 70 years purpose rather than just profit, in stark contrast to prior generations, a testament to having already met their other needs.
A case study in what not to do when it comes to customer experience and why the door is wide open for insurance startups looking to disrupt the space by offering significantly better customer service.
If you’re not willing to fail, then you will only ever embark upon safe, incremental improvements, where you have all the answers and therefore can’t fail.
When it comes to identifying, recruiting and nurturing intrapreneurs (corporate innovators and entrepreneurs), there are a number of characteristics and traits you should look for.
Large organisations are beginning to invest in innovation - usually this takes the form of idea contests, hackathons, incubation programs and intrapreneur programs.
I was inspired to write this thought piece by a tifo, or banner to the football layman, which put forward the idea that 'success cannot exist without passion', something which is just as relevant for the team's coach Tony Popovic, who was immortalised on the banner, as it is for innovation and entrepreneurship.
There are a number of all too common mistakes that teams make when it comes to corporate innovation programs.
Flow has been defined as a mental state of operation in which a person performing an activity is fully immersed in a feeling of energized focus.
In my most recent podcast interview with Steve Blank, credited with developing the customer development methodology which birthed the lean startup, we touched on the topic of how the corporate culture inhibits innovation.
Half of the S&P500 will be replaced over the next 10 years at current rates of churn. 187 companies in the list today first entered it in the past 10 years alone
Only after launching our podcast earlier this year, we've just hit the number 1 position in iTunes Business Podcasts!
Could a company outsource prototyping for a new idea completely and let a third-party organisation do all the testing and market validation?
Collective Campus walked the team through an intensive 2-day SCRUM bootcamp in which they learned agile principles in addition to techniques related to as Scrum practices, requirements, project initiation, estimation and prioritisation, sprint planning, executing sprints, re-planning, closing a scrum sprint and closing a project.
So many things get in the way of the artistic process, whether writing music, painting or creating new products and business models.
Introducing The Innovation Manager's Handbook - a comprehensive guide to innovating in the enterprise.
Established companies have been built to deliver, not to discover. So how do we build a culture that supports ideation and experimentation?
I recently caught up with Kmart Australia’s innovation program manager, Fabio Oliveira, on my podcast for a discussion on innovation in retail and what the ‘store of the future’ might look like.
Check out the video to hear how it went when we taught one of Australia's largest bookmakers how to use the lean startup methodology.
Think your organisation is too big, bureaucratic and over-regulated to apply lean startup? Think again. General Electric, with its $493B in assets and 200,000 employees worldwide, is doing exactly that.
The perfect prototype is the one that’s imperfect. Time and time again, new founders will make excuses like, it's not ready yet”, or “I just want to add a few more things to it” to explain why they haven’t launched their prototype yet. This mentality has slowly suffocated many-a startup.
Design thinking is a mindset and process that empowers children with the ability to think critically and creatively.
A combination of values, processes, systems and resource allocation procedures prevent Government from adopting the behaviours and mindsets required to effectively support innovation.
At our recent 48 Hour Lean Startup workshop I helped guide an optometrist with no idea what he wanted to work on to a gamechanging concept in under 5 minutes.
Rushing to fill awkward silences is a recipe for disaster when it comes to our brainstorming and innovation efforts.
We’ve come a long way from the humble suggestion box and top down decision making long synonymous with corporate innovation. Today, more and more companies are sourcing ideas from not only the entire workforce but also getting outside their building and engaging partners, customers and members of the general public.
The risk of taking few large safe bets in today’s environment far outweighs that of taking many small risky bets.
Regulation is often used as a scapegoat for a company’s decision not to truly embrace an innovation agenda and the practices that support it. But how does one experiment when a corporate watchdog is breathing down your neck and watching your every move?
Hackathons are a great way to bring together teams with the goal of quickly identifying and solving problems.
Collective Campus had the pleasure of hosting a panel talk recently with Stile Education on the future of K-12 education entitled ‘Getting Students Future Ready’.
If you're a student currently in university or a working professional looking to study masters, it's time for a reality check
In order to stay relevant in an era of rapid change and disruption, companies can do a number of things. Further penetrate existing markets, enter new industry and geographic markets, explore new customer segments and make changes to pricing and packaging are a few of the more traditional options, which will only ever serve to stretch the existing S-curve.
As disruptive technology takes over, kids need to learn how to adapt and be empowered by skills that will prepare them for the future
Our recent Lemonade Stand program Lemonade Stand brought kids together to develop their entrepreneurial mindset and capabilities.
Hackathons (or innovation bootcamps) are a great way to bring together teams with the common goal of quickly solving problems, building prototypes and validating market appetite. This not only helps teams test many ideas quickly to find out what works but also saves them by avoiding the trap of committing millions to building the wrong thing.
Corporate innovation programs are growing in popularity as more and more industry incumbents come face to face with the realities posed by disruptive innovators.
One of the biggest mistakes is for companies to believe enterprise innovation is a top-down phenomenon, where managers (or a small team) come up with solutions, and push changes down the organisation. While managers have a significant role in innovation and change within an organisation, employees should be the primary drivers of change.
Disruption is something we often associate with start-ups these days. But… what happens when corporates learn to innovate?
“If I had asked my customers what they wanted they would have said a faster horse.” We have all heard Henry Ford’s famous quote many times before and it serves as a battle cry to many a visionary entrepreneur who swears against asking customers what they want.
Leaders of large companies are coming under more intense scrutiny and pressure to drive innovation within their organizations, in order to avoid being disrupted by smaller, more nimble competitors.
The health insurance industry is facing significant disruption on a number of fronts. If any industry is in need of applying emergent strategy to its product development methods, it’s health insurance.
Large companies faced with the imminent threat of disruption posed by technologies such as cloud and mobile are having to reassess their place in the business landscape. Corporates need to figure out how to stay relevant not just in today’s ultra-competitive environment but also well into the future, to avoid having their bottom lines wither away.
Myki, Victoria’s now three-year old public transport ticketing system has been the subject of public abuse and endless scrutiny since its roll out in 2013. This brings us to the question of human-centered design, or lack thereof, as it applies to Myki’s design and development.
With 65% of the Australian economy facing significant disruption, it’s predominantly a case of out with the old and in with the new. And it’s paving the way for disruptive education models.
Collective Campus recently held its first Lean Startup Short Course. The course, held for 20 hours over four weeks, brought together seven budding entrepreneurs and exposed them to the world of build, measure and learn.
Exploring disruptive innovation is anything but procedure, certainty, safety and achieving quarterly KPIs. As such, it does not present decision makers with an obvious green light to invest.
We were lucky enough at Collective Campus to host Minister Dalidakis as he visited several of Melbourne’s hotbeds of innovation and entrepreneurship.
Whether a company has a hundred, a thousand or one hundred thousand employees, it has access to an untapped resource of unique, diverse and broad perspectives and insights that employees of these companies don’t share effectively.
Innovation has become the definitive buzzword throughout large companies across the globe. More often than not though when executives encourage the masses to ‘go forward, be bold and innovate’, it often amounts to nothing more than lip service
We’ve been working on our own Lemonade Stand program at Collective Campus, which will be rolled out these summer holidays for children from Grades 5 & 6through to Years 7-10. The program aims to instill business fundamentals, the innovator’s mindset and innovation practices such as human centred design and lean startup into the psyche of today’s youth.
Here are five ways your marketing is outdated, and why Mad Men style advertising won’t work as well in a modern day marketing strategy.
Here are 3 reasons why investing your budget into data and advertisements is better for your business.
In an age where a firm’s innovation strategy can make or break the company, it’s more important than ever for companies to define what it means to innovate.
Large corporations can have what seems to startup founders to be vast amounts of resources - more than they know what to do with. So why don’t large companies with millions and sometimes billions of dollars in capital reserves come out with the next big thing, the next UBER or the next Xero?
I had the pleasure of attending and speaking at IBM’s annual A/NZ Partner Symposium at Luna Park in Sydney yesterday where the hot topics of innovation, disruption, transformation and startup agility were central to the day’s discussions.
Large organisations apply the same metrics and evaluation criteria on potentially disruptive, risky, ‘out of the box’ innovation as they do for incremental improvements and business as usual investment decisions. Clearly this makes no sense.
How do you go about finding and hiring such applicants when your company insists on candidates meeting criteria such as being a certified accountant which tends not to lend itself to right-brained, creative thinking.
More and more companies that were once small and built their reputation on disruptive innovations, are now big, have large value growth targets, are watched like hawks by the business media and report to shareholders who usually demand short-term returns on investment.
"The lean startup bootcamp is a great way for employees to learn the fundamentals of entrepreneurship, life in a startup and how to diverge from their normal way of thinking. Highly recommended."
"The Lean Startup Short Course at Collective Campus equips you with the fundamentals required to take your startup idea to an MVP and validate it. Interactive classroom sessions, hands-on exercises and guest speakers who talked about their startup journeys were the highlights of the course for me."
"Steve is extremely knowledgeable around innovation theory and start up methodologies and provides great commercial perspectives on disruptive innovators. Definitely worth a listen for any company not currently disrupting themselves"
The workshops I’ve taken at Collective Campus were highly relevant to my career, pitched at the right level and delivered to perfection. CC provides a productive environment for high-quality, tailored training from a comprehensive list of contributors.
“Steve’s presentation on disruptive trends was insightful and engaging. His presentation skills kept the audience captivated as he shared his interesting perspective on what is happening in the market and the relevance these changes have to us.”
"A really good bootcamp on SCRUM! The bootcamp replicated a real world SCRUM team and everything, including breaks, was being time-boxed to help reinforce agile concepts and ideas”
“In your presentation, you have made it so much easier for me to explain on how this is possible with cross functional communication in Carsales. What I appreciated most about it was everyone is excited the Lean Startup and wanted to try it out for their innovation ideas in their team.”
[Collective Campus] is without doubt one of Melbourne's best co-working spaces for its organisation, desk spaces and facilities, making it a productive place to work. It has a close connection with the startup community in Melbourne, so you're always sure to make a new connection or hear about a new event to head along to. I highly recommend [CC]!
Parent Paperwork got its first office at Collective Campus. CC gave us a lively, interesting environment to be part of. We found CC to be a friendly and helpful community of startups. There’s always something special happening... CC is a fabulous nest for the early days of the startup journey.
The Collective Campus team have provided great local market information, backed by international best practice, aiding the KWM Innovation Hub to navigate their innovation journey.
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