The Daily Innovator: The Four Innovation Practices That Matter

Innovation is as American as apple pie. Consider that as of the writing of this post, there are 69,665 books for sale on Amazon on the topic of innovation. Why is it that something so favored, of so much apparent interest, and so linked to growth is so hard to make happen?

We all know that innovation is easy to talk about, hard to deliver. But what it takes to move from hype, to execution, to real results comes down to just four basic practices. Focus on these and you will make progress. Cannot effect change wherever you are in your career as an innovator? Look for evidence of these practices in your next move.

I've conducted dozens of interviews over the past several months with business executives, investors and advisers across financial services, healthcare, retail and media - from start-ups to mature companies. I've seen a pattern of what happens when innovation shows up in results, and the innovation dead-ends created when any of the four practices are absent.

1. Be open and willing to let go. The more you let go, let others in on the innovation journey, and stay really open to differences of opinion and perspective, the more good things will happen. Heavy-handed control stifles innovation. The leadership practices of your team will define the level of openness experienced by the broader organization, and will affect their willingness to grow new ideas into new business opportunities. In a truly customer-centric culture, employees will want to see that there is transparent and open dialog with customers. Employees will understand business drivers and priorities. Employees will feel empowered to bring customer insight and business priorities together to pursue smart ways to deliver increasing value. That's a sign of innovation potential.