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3 INNOVATION TALES
   Tale 1: Pet Projects


        by Julian Keith Loren

         +1.510.396.0888
         jkl@digiratti.com
www.linkedin.com/in/juliankeithloren
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   Once upon a time there was a CEO.
   He wanted to help his company grow and
   beat its competitors.




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.           3
3 Innovation Tales : Tale 1 : Pet Projects                                           ROUGH DRAFT



   The CEO decided to implement a
   Personal-Project or Pet-Project Program.

                                                                      10% Your Own
              90% Regular
                                                                    Innovative Projects
                 Work




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.            4
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   He knew that Pet-Project Programs were
   yielding great results to some firms, and was
   sure that it would be a huge success.

                                                                     Google
                                                                       Genentech
                                                                            3M




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.           5
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   The employees were very excited!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.           6
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   There was a Product Manager who wanted
   to create an innovation that was sexy and
   timeless—her great “product legacy.”

                                                      A
                                                 Venus di Milo
                                                    Lava Lamp




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.           7
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   A Salesperson imagined a product that
   would sell itself.


                                               Self-Changing
                                                Diapers




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.           8
3 Innovation Tales : Tale 1 : Pet Projects                                             ROUGH DRAFT



   A Project Manager dreamed of
   an innovation that was not innovative.

                                                                     Innovation is
                                                                   too unpredictable
                                                                       and risky!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.              9
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   An Engineer thought of something really
   cool and technologically complex.

                                               A system that
                                               allows users to
                                               create virtual
                                               museums of
                                                  places.




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          10
3 Innovation Tales : Tale 1 : Pet Projects                                               ROUGH DRAFT



   A Financial Analyst imagined a product with
   a huge margin & good ROI for the consumer.
                                                                               Manufacturing
                                                                                 Cost: $0.50
                   Electronic Pet CPA.                                       Sales Price: $29.95
              Care for your CPA, and
              it will give you
                 real tax advice.




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.                  11
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   The Financial Analyst and the Product
   Manager needed some help from Engineering
   to complete designs and a prototype.

                                                   Can you help us?




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          12
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   But all of the Engineers had ideas of their
   own that they had been waiting for years to
   realize.

                                             No way! Do it yourself!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          13
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   So the Product Manager and Financial
   Analyst left the company, and formed a very
   successful new firm making Venus-di-Milo-
   shaped Electronic Pet CPA Lava Lamps.

                                       How many units did
                                       we sell this month?

                                              5.4 Bagillion.




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          14
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   After a few quarters, the CEO reviewed the
   results of the Pet Project Program.

   In the Engineering Department, morale and
   employee retention rates were at an all-time
   high.
                                                  We love working here!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          15
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   But much more than 10% of time was being
   spent on pet projects, and few of the
   resulting innovations looked like viable
   products.


                                                     We love working on our stuff!


                                                      (And we don’t care if it sells)



   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          16
3 Innovation Tales : Tale 1 : Pet Projects                                             ROUGH DRAFT



   Many talented individuals from other
   departments had left the company, and those
   that remained had overwhelmingly negative
   feelings about the Pet Projects Program.

                                                                          It takes twice as
                                                                          long to get
                                                                          Engineering to do
                                                                          anything now!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.             17
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   The CEO wondered why Pet Project Programs
   had worked at those other firms, but not at
   his company.

                                                                  Hmmmm.




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          18
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   While the he was thinking, two dragons
   named “Shareholders” and “The Board”
   arrived.

                                                         Hi, guys!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          19
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



   They roasted the CEO with their fiery breath,
   and devoured him.


                                                            Ouch!




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          20
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



              Maybe the CEO should have tried an




   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          21
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




                   Each team has a member who can
                 help realize or prototype innovations.

               Multi-disciplinary inputs produce
                 more robust INNOVATION SET,
         rather than a single-faceted, lone innovation.

        Each team has members who contribute ideas
          related to fiscal viability and marketing.


   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          22
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




                   Each team has a member who can
                 help realize or prototype innovations.

               Multi-disciplinary inputs produce
                a more robust INNOVATION SET,
         rather than a single-faceted, lone innovation.

        Each team has members who contribute ideas
          related to fiscal viability and marketing.


   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          23
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




                   Each team has a member who can
                 help realize or prototype innovations.

               Multi-disciplinary inputs produce
                a more robust INNOVATION SET,
         rather than a single-faceted, lone innovation.

        Each team has members who contribute ideas
           related to fiscal viability and marketing.


   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          24
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




    Improve morale and foster a culture of innovation
            across your WHOLE organization.

               Build bridges across inter-departmental
                  communication and cultural gaps.

               Generate clusters of innovations
              that support each other and have
         much better chances of successful realization
               and broad, long-term adoption.

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          25
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




    Improve morale and foster a culture of innovation
            across your WHOLE organization.

               Build bridges across inter-departmental
                  communication and cultural gaps.

               Generate clusters of innovations
              that support each other and have
         much better chances of successful realization
               and broad, long-term adoption.

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          26
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




    Improve morale and foster a culture of innovation
            across your WHOLE organization.

               Build bridges across inter-departmental
                  communication and cultural gaps.

               Generate clusters of innovations
              that support each other and have
         much better chances of successful realization
               and broad, long-term adoption.

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          27
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




     Autonomous, Multi-Disciplinary Team Innovation
     (AMTI) Programs can be powerful, but are not a
             complete innovation solution.

    AMTI can be great at creating a strong innovation
      culture and improving morale & retention.

     AMTI should always be implemented as part of a
       comprehensive program covering the Full
                 Innovation Life Cycle℠

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          28
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




     Autonomous, Multi-Disciplinary Team Innovation
     (AMTI) Programs can be powerful, but are not a
             complete innovation solution.

    AMTI can be great at creating a strong innovation
      culture and improving morale & retention.

     AMTI should always be implemented as part of a
       comprehensive program covering the Full
                 Innovation Life Cycle℠

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          29
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT




     Autonomous, Multi-Disciplinary Team Innovation
     (AMTI) Programs can be powerful, but are not a
             complete innovation solution.

    AMTI can be great at creating a strong innovation
      culture and improving morale & retention.

     AMTI should always be implemented as part of a
       comprehensive program covering the Full
                 Innovation Life Cycle℠

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          30
3 Innovation Tales : Tale 1 : Pet Projects                                                     ROUGH DRAFT




               Innovation Portfolio Management                  Innovation Measurement & Metrics

                            Innovation’s Role & High-Level Innovation Strategies
                                                                  Innovators:
               Innovation            Organizational                                         Culture
                                                                Recruiting, Rewarding,
               Alignment             Optimization                                        Supporting FILC
                                                                      Retaining


              Orchestrated         Rigorous                                         Full Innovation Life
                                                     Iterative Design
                Ideation             Idea                                        Cycle℠ (FILC) Innovation
                                                       through FILC
                                    Vetting                                           Effectiveness:
                 “Ideation,”           &                                          Dramatically Improving
              Brainstorming,       Strategic                                     Rates of Realization and
                                                   High-Level Design
               Idea Creation       Grouping                                      Broad & Viable Adoption
                                                     & Prototyping


                  Open               Pet-Project                Autonomous, Multi-Disciplinary
               Innovation             Programs                        Team Innovation

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.                       31
3 Innovation Tales : Tale 1 : Pet Projects                                                     ROUGH DRAFT




              Innovation Portfolio Management                   Innovation Measurement & Metrics

                            Innovation’s Role & High-Level Innovation Strategies

               Innovation is
                    AMTI          just 1 small part               Innovators:
                                    Organizational                                          Culture
                                                                Recruiting, Rewarding,
               Alignment              Optimization                                       Supporting FILC
                                                                      Retaining
                   of developing an effective
               Orchestrated   Rigorous                                              Full Innovation Life
                     Innovation Management Design
                                         Iterative
                  Ideation      Idea                                             Cycle℠ (FILC) Innovation
                                           through FILC
                               Vetting                                                Effectiveness:
                             Practice
                 “Ideation,”      &                                               Dramatically Improving
              Brainstorming,  Strategic                                          Rates of Realization and
                                        High-Level Design
               Idea Creation  Grouping                                           Broad & Viable Adoption
                                          & Prototyping


                  Open               Pet-Project                Autonomous, Multi-Disciplinary
               Innovation             Programs                        Team Innovation

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.                       32
3 Innovation Tales : Tale 1 : Pet Projects                                          ROUGH DRAFT



      If you would like to further explore what AMTI
          and Full Innovation Life Cycle techniques
               could do for your organization,
                       please contact:

                                     Julian Keith Loren
                                      +1.510.396.0888
                                     jkl@digiratti.com



                         THE INNOVATION MANAGEMENT CONSULTING FIRM℠

   1/1/2009                       © 2009 Julian Keith Loren. All Rights Reserved.          33

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How to Avoid Failure with a Pet Project Program

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  • 2. 3 INNOVATION TALES Tale 1: Pet Projects by Julian Keith Loren +1.510.396.0888 jkl@digiratti.com www.linkedin.com/in/juliankeithloren
  • 3. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Once upon a time there was a CEO. He wanted to help his company grow and beat its competitors. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 3
  • 4. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT The CEO decided to implement a Personal-Project or Pet-Project Program. 10% Your Own 90% Regular Innovative Projects Work 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 4
  • 5. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT He knew that Pet-Project Programs were yielding great results to some firms, and was sure that it would be a huge success. Google Genentech 3M 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 5
  • 6. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT The employees were very excited! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 6
  • 7. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT There was a Product Manager who wanted to create an innovation that was sexy and timeless—her great “product legacy.” A Venus di Milo Lava Lamp 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 7
  • 8. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT A Salesperson imagined a product that would sell itself. Self-Changing Diapers 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 8
  • 9. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT A Project Manager dreamed of an innovation that was not innovative. Innovation is too unpredictable and risky! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 9
  • 10. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT An Engineer thought of something really cool and technologically complex. A system that allows users to create virtual museums of places. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 10
  • 11. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT A Financial Analyst imagined a product with a huge margin & good ROI for the consumer. Manufacturing Cost: $0.50 Electronic Pet CPA. Sales Price: $29.95 Care for your CPA, and it will give you real tax advice. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 11
  • 12. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT The Financial Analyst and the Product Manager needed some help from Engineering to complete designs and a prototype. Can you help us? 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 12
  • 13. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT But all of the Engineers had ideas of their own that they had been waiting for years to realize. No way! Do it yourself! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 13
  • 14. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT So the Product Manager and Financial Analyst left the company, and formed a very successful new firm making Venus-di-Milo- shaped Electronic Pet CPA Lava Lamps. How many units did we sell this month? 5.4 Bagillion. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 14
  • 15. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT After a few quarters, the CEO reviewed the results of the Pet Project Program. In the Engineering Department, morale and employee retention rates were at an all-time high. We love working here! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 15
  • 16. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT But much more than 10% of time was being spent on pet projects, and few of the resulting innovations looked like viable products. We love working on our stuff! (And we don’t care if it sells) 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 16
  • 17. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Many talented individuals from other departments had left the company, and those that remained had overwhelmingly negative feelings about the Pet Projects Program. It takes twice as long to get Engineering to do anything now! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 17
  • 18. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT The CEO wondered why Pet Project Programs had worked at those other firms, but not at his company. Hmmmm. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 18
  • 19. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT While the he was thinking, two dragons named “Shareholders” and “The Board” arrived. Hi, guys! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 19
  • 20. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT They roasted the CEO with their fiery breath, and devoured him. Ouch! 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 20
  • 21. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Maybe the CEO should have tried an 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 21
  • 22. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Each team has a member who can help realize or prototype innovations. Multi-disciplinary inputs produce more robust INNOVATION SET, rather than a single-faceted, lone innovation. Each team has members who contribute ideas related to fiscal viability and marketing. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 22
  • 23. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Each team has a member who can help realize or prototype innovations. Multi-disciplinary inputs produce a more robust INNOVATION SET, rather than a single-faceted, lone innovation. Each team has members who contribute ideas related to fiscal viability and marketing. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 23
  • 24. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Each team has a member who can help realize or prototype innovations. Multi-disciplinary inputs produce a more robust INNOVATION SET, rather than a single-faceted, lone innovation. Each team has members who contribute ideas related to fiscal viability and marketing. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 24
  • 25. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Improve morale and foster a culture of innovation across your WHOLE organization. Build bridges across inter-departmental communication and cultural gaps. Generate clusters of innovations that support each other and have much better chances of successful realization and broad, long-term adoption. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 25
  • 26. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Improve morale and foster a culture of innovation across your WHOLE organization. Build bridges across inter-departmental communication and cultural gaps. Generate clusters of innovations that support each other and have much better chances of successful realization and broad, long-term adoption. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 26
  • 27. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Improve morale and foster a culture of innovation across your WHOLE organization. Build bridges across inter-departmental communication and cultural gaps. Generate clusters of innovations that support each other and have much better chances of successful realization and broad, long-term adoption. 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 27
  • 28. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Autonomous, Multi-Disciplinary Team Innovation (AMTI) Programs can be powerful, but are not a complete innovation solution. AMTI can be great at creating a strong innovation culture and improving morale & retention. AMTI should always be implemented as part of a comprehensive program covering the Full Innovation Life Cycle℠ 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 28
  • 29. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Autonomous, Multi-Disciplinary Team Innovation (AMTI) Programs can be powerful, but are not a complete innovation solution. AMTI can be great at creating a strong innovation culture and improving morale & retention. AMTI should always be implemented as part of a comprehensive program covering the Full Innovation Life Cycle℠ 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 29
  • 30. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Autonomous, Multi-Disciplinary Team Innovation (AMTI) Programs can be powerful, but are not a complete innovation solution. AMTI can be great at creating a strong innovation culture and improving morale & retention. AMTI should always be implemented as part of a comprehensive program covering the Full Innovation Life Cycle℠ 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 30
  • 31. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Innovation Portfolio Management Innovation Measurement & Metrics Innovation’s Role & High-Level Innovation Strategies Innovators: Innovation Organizational Culture Recruiting, Rewarding, Alignment Optimization Supporting FILC Retaining Orchestrated Rigorous Full Innovation Life Iterative Design Ideation Idea Cycle℠ (FILC) Innovation through FILC Vetting Effectiveness: “Ideation,” & Dramatically Improving Brainstorming, Strategic Rates of Realization and High-Level Design Idea Creation Grouping Broad & Viable Adoption & Prototyping Open Pet-Project Autonomous, Multi-Disciplinary Innovation Programs Team Innovation 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 31
  • 32. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT Innovation Portfolio Management Innovation Measurement & Metrics Innovation’s Role & High-Level Innovation Strategies Innovation is AMTI just 1 small part Innovators: Organizational Culture Recruiting, Rewarding, Alignment Optimization Supporting FILC Retaining of developing an effective Orchestrated Rigorous Full Innovation Life Innovation Management Design Iterative Ideation Idea Cycle℠ (FILC) Innovation through FILC Vetting Effectiveness: Practice “Ideation,” & Dramatically Improving Brainstorming, Strategic Rates of Realization and High-Level Design Idea Creation Grouping Broad & Viable Adoption & Prototyping Open Pet-Project Autonomous, Multi-Disciplinary Innovation Programs Team Innovation 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 32
  • 33. 3 Innovation Tales : Tale 1 : Pet Projects ROUGH DRAFT If you would like to further explore what AMTI and Full Innovation Life Cycle techniques could do for your organization, please contact: Julian Keith Loren +1.510.396.0888 jkl@digiratti.com THE INNOVATION MANAGEMENT CONSULTING FIRM℠ 1/1/2009 © 2009 Julian Keith Loren. All Rights Reserved. 33