Don’t get sucked into someone else’s ’dog and pony show’
The tinfoil hat segment of the innovation business has always existed. The new crazies that I see in the innovation business work at corporates. They may lack the wild-eyed look, but many hold equally improbable beliefs – and create just as little value. Beware of becoming too entangled with them unless you have a clear value proposition like, for example, they’re paying for the drinks.
Innovation is a big tent and we give away a lot of love, including to some who may not deserve it. I have a hard time figuring out how lots of these people add value. There may be method to their madness though, and I am straight up envious of much of it. They seem have a ball, make good money, and not be judged too hard on results. Respect.
Everyone’s got a Director of Innovation these days. The young-ish, sneaker-clad corporate head of innovation is on stage everywhere, talking about their company’s digital transformation. When pressed, they struggle to name anything specific that’s been implemented or sold, but the sneakers look good and, hey, their employer is embracing disruption. Mind the gap between the slideshow and reality.
The dealmaker is looking for startups that have product-market fit, a great team, billion-dollar potential, and a good cultural fit with their company. On a personal level, their preferred mate is a supermodel with a Stanford PhD, who, in the immortal words of the boy band One Direction, “doesn’t know she’s beautiful”. Beware of the long distance and many cups of coffee between meeting them and cutting a deal.
The Community… Something
This person doesn’t exactly have a seven-word description of how they create value. Despite this, I’ll admit to anyone that cares to ask that this job sounds awesome. The KPIs seem to be ‘keynotes given’, ‘cups of coffee drunk at conferences’, and ‘LinkedIn connections added’. It looks like fun, but beware of anything they’re giving away for free.
The Garage Boss
Apart from workshops and events, I haven’t quite figured out what these people do, but garages are hot. The crowds trekking through Silicon Valley on innovation tours have seen the Hewlett-Packard garage and decided they need one too. “Innovation labs” and ”creator spaces” are also garages and a rose by any other name still smells as sweet.
The architecture is a key identifier. Look for plywood walls, primary colors, cool light bulbs, and bookshelves full of work by the right authors. The garage boss seems to hold a lot of workshops and those books don’t read themselves. Beware of panel invitations to be the ‘fun startup person’ aka the only person not in a suit.
Slide on up to the bar
The Innovation Theater Crowd can steal a lot of your time, if you’re not clear about how they can add value to you. Don’t be an extra in someone else’s show. Once you can see the value, however, make sure they’re paying for the drinks – and enjoy!