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Most Corporate Innovation programs fall victim to one or more of the 7 Deadly Sins. GameChanger provides an alternative process to help you avoid these common pitfalls:
- Business Blindness: Individuals competing in a category are often blinded to potential disruptive innovations.
- Self-Reliance Syndrome: Great innovations require external collaboration vs. a “go it alone” mentality.
- Bureaucratic Burial: Too many approval steps will kill great ideas.
- Specialist Stagnation: Great innovations are built with a by generalists who can challenge established business practices.
- Mindset Mismatch: Most corporations develop and train great managers, who have the opposite mindset of entrepreneurs.
- Big Bang Launch: Step-wise launches that allow time to perfect the proposition work better than the traditional big bang mass market launch.
- Portfolio Pitfalls: Big companies over-invest in individual ideas. You need to place a larger number of small bets, and think more like a VC.