Has your next big innovation breakthrough hit a pothole?

At Phiquest we partner with you to overcome common obstacles to innovation.

Top 10 Common Potholes

Learn about the top 10 commons potholes & how to overcome them to create the next big innovation breakthrough

By Jeremy Ramos

Innovator

1. Political turf wars and lack Of organizational alignment

Where there is an organization there will be turf wars and politics. These situations always involve egos, emotions, and people’s sense of identity. Phiquest partners with organizations to create an intense focus on the larger goal. By developing a common understanding of everyone’s needs and setting clear roles and responsibilities, politics and turf battles can be minimized. In the end it is not about eliminating tension in an organization, instead it is about establishing and maintaining a healthy tension to propel an organization towards the next innovation breakthrough.

2. No innovation culture

Innovation starts with understanding the Big Why. When leaders and teams are keenly aware of why an organization is pursing a particular strategy and everyone has a set of shared values, it becomes easy to garner collective support. Phiquest partners with organizations to established a set of shared values, develop their Big Why, and align everyone behind a singular vision. The focus set by way of these actions creates the conditions and environment necessary to achieve breakthroughs.

3. Lack of time and resources

Innovation projects, like all projects, must compete for time and resources. The best solution to this challenge is to establish a burning platform for innovation. By creating a culture of innovation, gaining support from executives, and performing due diligence it will be clear to everyone in the organization, that innovation is a must have, not a nice to have.

4. Lack of budget

Lack of funding is one of the most common excuses to delay or avoid innovation projects. The truth is that innovation is like any other investment, and when supported with due diligence and a sound business case, funding is not an obstacle. Phiquest partners with innovation leaders to produce business models to support their innovation investments. With these models it is much easier to make financial projections and create a business case for investment.

5. Lack of strategic vision

We’ve all heard the saying that no plan survives first contact with the enemy. Strategy can’t be static, it is a process that ducks and slips as the market and competitive landscape evolves. In the heat of the battle it can be difficult to assess the broader landscape and make clear decisions about your next move. Phiquest provides consulting services to organizations that need fresh eyes and new input to their strategy.

6. Reluctance to adopt emerging tech

New technology is often wrongly perceived as risky and too expensive. Technology adoption decisions are critical to the future success of a business, and should not be dismissed based on pure perception. At Phiquest we partner with technology leaders to perform technology due diligence that gets to the truth behind the veil of risk and cost. An engagement can be based purely on documentation research, technologist interviews, or may involve technology trials/pilots. The outcome is better technology decisions based on facts, not false perception.

7. Lack of executive support

Executives have business and personal goals, keeping this top of mind is critical. Phiquest partners with executive leaders to understand both their business needs and their personal needs. By appealing to executives from both a business and human perspective we can unlock the projects they are most passionate about, and this creates huge opportunity for alignment and progress.

8. Challenges recruiting for critical skills

Often times access to the right talent can stymie innovation progress. When skills are in high demand leaders need alternative strategies to fill the gaps. The Phiquest Innovation Team As A Service (iTaaS) can often times serve as an interim gap filler to keep innovation flowing, while recruiting and hiring can take place. Phiquest can also partner with human resources teams throughout the hiring process to help screen candidates and evaluate them for cultural fit, thereby ensuring continuity of development with minimal impact.

9. Inability to recognize critical trends

The noise of day-to-day execution can be deafening to innovative leaders and teams. This is why Phiquest partners with organizations to develop systems to constantly monitor the strategic and competitive landscape for under-served needs and new trends. One basic truth of all markets is that solutions can always improve, and if you can connect with customers that are willing to partner with you to innovative, you can achieve real breakthroughs.

10. Lack of support from C-suite leadership

Engaging senior executives is about appealing to their business focus and pain points. However, unlike selling to other executives, Chiefs don’t have the time or patience to be interrogated. At Phiquest we focus on building wide organizational support before engaging senior executives, and developing clear strategies to capture opportunities while actively managing the risks of pursuing new innovations. You have to quickly get to the bottom line and make the compelling pitch.

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