Get cutting-edge FinTech insights delivered straight to your inbox! Sign up here

13.02.2017 Internal

Innovation Is an Iterative Process: 8 Steps that Will Take you Further

Julia Kuhn, our Innovation Curator, shares with us 8 important steps on the innovation process.

Step 1

You need to have a question about a goal, or a problem, you want to solve. This must be absolutely clear. Only then can you actively work on an innovation. There may be innovative ideas generated by the process randomly, but this is not controllable. If you want a controllable innovation process, it needs a goal / problem / questioning.

 

Step 2

Define your plan and approach on a single page document.

 

Step 3

Questionnaire / starting position / project objectives / Expected results / measurement criteria for your project.

 

Step 4

Work on answering the question.

 

Step 5

Set your tasks and milestone. Define what is the most important and what is the most necessary. What can you do quickly, which lasts forever. Bring your tasks and milestones into a hierarchy.

 

Step 6

Work your tasks methodically, and do not let yourself get worried about the enormity of the task list.

 

Step 7

Check the measurement criteria you have defined previously to ensure you are on the right track.

 

Step 8

Be open to solutions and outcomes and make decisions based on clear results. Continually work with an open mind.

 

Start again at 1…

What's your opinion?

We'd love to discuss with you