In this conversation, Helen Dawson speaks with Dan and Rebecca from Rapidworks about corporate venture building and the challenges of innovation within large organizations.
They discuss the importance of exploring adjacent opportunities, mitigating risks, and the concept of 'fail fast.' The conversation emphasizes the need for a cultural shift in corporations to embrace innovation, celebrate stop decisions, and measure success through innovation accounting rather than just revenue. They also share personal insights on their journey of branching out on their own and the lessons learned along the way.
Takeaways
Innovation is not inherently risky; it's about mitigating risk.
Celebrating stop decisions can empower teams to make better choices.
Corporate innovation often suffers from risk aversion and lack of measurable outcomes.
Embedding innovation in corporate culture is essential for long-term success.
Innovation accounting helps measure progress beyond just revenue.
Engaging with customers directly can alleviate fears and drive innovation.
Perfectionism can stifle creativity and innovation; good enough is often sufficient.
It's okay to be introverted; active listening is a valuable skill.
Every organization faces similar challenges, often related to culture.
The best ideas are those that are implemented and create real value.
Contact the RapidWorks team via email at hello@rapidworks.uk or www.rapidworks.uk