Bon Brand

When you set out to innovate a new product or service there are enough problems in your way. This list aims to point out some of the pitfalls you should be able to avoid. We  may not cover everything that   causes an innovation to fail but may provide some food for thought.

Factors Most Likely to Wreck Innovation Projects

1. Failure to check and deliver items on our checklist for Successful Innovation.
2. Failure to make use of existing know-how and reinventing the wheel at great cost.
3. Inadequate resources both financial and intellectual.
4. Internal disagreements and political infighting.
5. Too long in research and seeking 100% perfection before moving forward.
6. Unrealistic timescales, market interest, selling prices and technical arrogance.
7. Failure to ‘sense the market’. It’s all the market Stupid!
8. Poor planning and or control.
9. Lack of or poor, Information Technology, appropriate partners and skilled people.
10. Poor final design or packaging
11. Beaten to the punch by a quicker, slicker alternative solution. (Not necessarily a better one)
12. Using the wrong technical solution through ignorance stubbornness or accident.

Read Innovation a Corporate Asset