Are you prioritizing the right ideas for innovation? 💡

In a world where every business is striving to innovate, not every idea deserves your time and resources. The key to successful innovation often lies in strategic prioritization. But how do you decide which ideas will lead to breakthroughs and which are distractions? It's crucial to assess potential impact against feasibility, aligning with your long-term goals. 🎯

I read a great article from HBR on this decision process (link in comments). Here's a great quote:

Many firms, staffed with smart people and cutting-edge analytics, count themselves lucky when a tenth of the innovations they pursue are successful. Adjusting the committee’s decision rule can thus quickly make a commercial difference, even if it is just one more project than usual that is correctly accepted or rejected, respectively.

They recommend a ranking or scoring method to help select projects and I agree wholeheartedly, although the devil's in the details 😈. Our expertise lies in optimizing that process so that its an enabler of great projects and not just additional bureaucracy. 

Unlocking this process can transform an ideation frenzy into a streamlined strategy for growth. How does your organization prioritize and act on innovative ideas? 🔍 Share your approach or challenges down below or on LinkedIn.