Viewpoints on Innovation

Innovation Fallacy #7 - Success Is Getting To Launch

Governance Process Improvement IT Enablers High Technology Medical Device Pharmaceutical Chief Innovation Officer
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Anyone that has seen a product through the development cycle and into market knows that it is an exhilarating, exhausting, and often emotionally draining exercise that can leave a team feeling both happy and tired. Considering the odds of success, launch is a milestone worthy of celebration. But it is just one milestone along the way to successful innovation.

We have to deliver real business results before we can declare victory.

This is a question of definition, scope and focus. Best-in-class innovation organizations define the scope of their programs to include launch, post-launch support and monitoring, evaluation of commercial results, and ultimately, a learning exercise that informs future development efforts. Without this, we run the risk of stopping short of the goal line.

I have seen amazing innovations get to launch and then fail to live up to expectations because of a lack of in-market support. Many times the scope of the original business case did not include advertising and promotion budget assumptions, there wasn’t appropriate cross-functional collaboration, or the sales team was not properly trained. Any of these issues and many more can create obstacles to success.

Brilliant ideas turned into amazing products is just part of the effort required in innovation. We’ve got to nurture that innovation in the market. The hard work done after launch determines success as much as anything else. If the end zone is in sight, there is no reason to take a knee on the ten yard line. 


More Reading:

Between the Gates, Vol. 5:  Market Launch Planning & Execution

Innovation Fallacy #1 - Risk Drives Reward

Innovation Fallacy #2 - Spending Drives Output

Innovation Fallacy #3 - Failure is Spectacular

Innovation Fallacy #4 - Innovation Cannot be Scheduled

Innovation Fallacy #5 - Structure Slows Innovation

Innovation Fallacy #6 - Process Inhibits Creativity

Innovation Fallacy #7 - Success Is Getting To Launch

Innovation Fallacy #8 - Disruption Happens Fast

Innovation Fallacy #9 - We’re The Apple Of…

Innovation Fallacy #10 - The U.S. Is Losing

Originally published at www.thechiefinnovationofficer.com

Originally published on October 9th, 2014

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Topics: Business Results, Innovation, launch, Launch Execution, New Product Development, NPD, Product Development, product development, Product Launch

About the Author

Bill Poston

Bill Poston

For the past 30 years, Bill has helped executives in technology-driven industries transform their competencies to deliver results. He is a highly regarded consultant, speaker, and writer on the topics of innovation strategy, product development, portfolio management, technology commercialization, and the software systems that enable innovation. Keep up with Bill's latest research and thoughts on innovation and the rising role of the Chief Innovation Officer at www.TheChiefInnovationOfficer.com.
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