The problem with innovation

The Daily Drip

Everyone wants to be innovative.

And it's not just the small, agile startups.

Large companies are saying that they want fresh ideas and new perspectives.

The only trouble is that sometimes they don't really understand how uncomfortable it is to challenge the status quo.

Here are some examples:

Starbucks said, "let's create some new flavors of tea."

A Starbucks team created some new ideas and even tested them at some locations. They came back to the executive and said, "We've got the data. The jalapeno-infused jasmine tea is crushing. We need to roll this out to all our stores."

Do you know what the exec said?

"Ah, but jalapeno? I just don't think that will work. No thanks."

I wonder how much revenue they've lost because of this decision to go from the gut instead of trying something new.

On the other side, look at Gucci.

Gucci hired a "shadow board" of millennials. The team shadowed the executive board and participated in large scale decisions. Sales went up 136%.

Here's the Harvard Biz Review article about it.

Innovating is scary--not because you're putting all your eggs in one basket or risking the company's future, that's foolish--it's scary because no one else has done it and it's unclear if it will work.

When you're doing things that work, why would you try something uncertain?

Consider this a little reminder to keep taking small risks that prevent you from going extinct.