By Aaron Eden on July 17, 2014
We had the pleasure of chatting with Giff Constable, CEO at Neo, a 100-person product innovation consulting shop. Giff has been creating software products and building companies for almost two decades. We discuss how he helps organizations learn to let go of bad ideas and how he assists companies so that they can work on products and services that matter.
Some highlights include:
• Giff explaining that there is a ton of enthusiasm for new ideas in the middle ranks, as people do want to work on things that matter. • For innovation to exist, Senior Executives need to delegate outcomes and goals rather than specific tasks and outputs. They also need to become comfortable with the idea that they might fail, as they develop products and services that matter.
- It’s important for companies to understand that money that they don’t spend on a bad idea is also a win. “Reducing waste is quite not as sexy as a nice win, but it still matters,” says Giff
- Companies that have been burned before are very willing to try new ideas, which is key for rapid innovation
- Giff believes that companies need to rethink the way they apply budgets for new products and for innovation
- It is possible for large companies to find ways to be creative, to be scrappy, and to manage risk
Listen in to learn how Giff and his team helped Time Incorporated create a new revenue stream in a matter of months: