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Leadership & Innovation | Top 10 'Must-Have' Convictions

Leadership & Innovation | Top 10 ‘Must-Have’ Convictions

By Tendayi Viki

Without leadership support, corporate innovation projects are dead on arrival. Leadership support is so important that this is the first thing I ask for when I am working with innovation teams. I have worked with several teams that have tried to avoid getting leadership support for their projects. However, they soon discover that they cannot avoid leaders forever. There is always the crunch point where teams need more resources and approvals to take their ideas to scale. This is usually the moment they realize that they should have engaged their leaders much sooner.

It is also the case that more and more leaders are now keen to support innovation. This is good news, if those leaders have the right convictions about how innovation works. While we are always keen to celebrate when leaders get actively involved in innovation, I have learned that not all leadership support is created equal. Sometimes, you have leaders who are keen to support innovation but have the wrong convictions about how innovation works. This kind of support can actually be harmful to innovation projects.

We are not just looking to get broad leadership support. We are looking to get a specific kind of support that will help innovation teams thrive. To be successful in the long term, innovation needs leaders who get it.

Below are ten convictions that leaders should have about innovation. Teams can use this checklist to see if they are getting the right kind of support from their leadership team.

1. Exploiting Versus Exploring

Exploiting current success and exploring new opportunities are different arenas of business that require different styles of leadership and management. In one case, you are delivering a known value proposition and executing on a known business model. In the other case, you are searching for the right value proposition and a profitable business model.

2. Can’t Pick Winning Ideas

Given the uncertain nature of exploration, leaders cannot pick the winning ideas on day one. Instead, it is the role of leaders to create the right environment for the winning ideas to emerge.

3. Don’t Make Big Bets

Since leaders cannot pick the winning idea on day one, the best investment strategy is to make small bets on multiple ideas. The goal is to increase that investment over time, but only for those teams with ideas that are showing traction.

4. Failure is Part of the Process

Making small bets is an acknowledgment that not all ideas will succeed. Increasing investment for teams that show traction inevitably means that we have to accept the failure for the other teams. The goal is to learn lessons from every failed innovation project.

5. Make Decisions Based on Evidence

In order to increase investment in the right teams, leaders have to make investment decisions based on evidence of progress. There should be no pet projects that leadership pushes through regardless of evidence. There should also be no zombie projects that just keep going even though the teams are not making progress.

6. Beyond Technology

Having a breakthrough technology is not the same as having a breakthrough value proposition. Leaders should encourage their teams to go beyond technology and explore value propositions that resonate with customers and scalable business models.

7. Don’t Let 1,000 Flowers Bloom

Even as leaders make small bets, they should not invest in every idea that comes up. Instead, leaders should provide clear strategic guidance of where they want teams to play in terms of innovation.

8. Protected Resources

Leaders should provide teams with protected resources to innovate. Once an investment is made, teams should not be looking over their shoulders in fear that the resources can be taken away.

9. Time Beyond Money

Beyond financial resources, leaders need to carve out and protect people’s time for innovation. Leaders should not keep pulling people away from innovation projects to solve problems in the core business.

10. Empower Teams

After setting the context, leaders need to step away and allow innovation teams to do the work. What needs to be clear are the criteria that will be used to make decisions at a later stage.

It is not enough that leaders have good intentions. They also need to have the right convictions about innovation. The wrong type of leadership support usually comes from leaders who believe in myths about innovation. Even with the best intentions, these leaders can end up getting in their own way. As such, our leaders’ convictions about innovation matter. We are not just looking for their support with innovation, we are looking for a specific kind of support.

This article was first published on Forbes where Tendayi Viki is a regular contributor.

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Tendayi Viki

Tendayi Viki
Associate Partner and Author
Strategyzer

Tendayi Viki is an author and corporate innovation expert. As Associate Partner at Strategyzer, he helps companies innovate for the future while managing their core business. He has written three books; Pirates in The Navy, The Corporate Startup and The Lean Product Lifecycle. He previously served as Director of Product Lifecycle at Pearson, where he co-developed an innovation framework that won the Best Innovation Program 2015 at the Corporate Entrepreneur Awards in New York. Tendayi was shortlisted for the Thinkers50 Innovation Award in 2021 and was named on the Thinkers50 2018 Radar List for emerging management thinkers to watch. He is a regular contributor at Forbes.

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