Systemising Innovation: From Idea to Implementation - Part 2
- Herman Veitch
- Jan 7
- 2 min read
The Lab and the Launchpad: Experimentation and Commercialisation in Business Innovation
Welcome back! In Part 1, we covered the essential first steps: creating a reliable system for generating and screening brilliant ideas. Now, we face the biggest hurdles: testing whether the idea actually works and figuring out how to sell it.
For business owners like you, who seek efficiency and effectiveness, this is the part that turns a good concept into a measurable success. Let’s dive into Experimentation and Commercialisation.
From Concept to Proof: Experimentation is Non-Negotiable
You've identified a promising idea. Congratulations! Now, here’s the brutal truth: 9 out of 10 brilliant ideas fail during implementation. Why? Because the idea was never rigorously tested for suitability and feasibility in a real-world, low-risk environment.
1. Experimentation for Suitability and Feasibility
This is your innovation 'laboratory.' The goal isn't to launch; it's to learn quickly and cheaply.
Suitability: Does this idea actually solve the customer's pain point or fulfil a market need? This often involves simple A/B testing or small-scale pilot programs.
Feasibility: Can your existing team, resources, and processes actually execute the idea efficiently? Test the process internally first.
The Minimum Viable Product (MVP): Don't build the whole solution. Build the smallest possible version that provides value and collects feedback. 90% of successful new systems are iterative—they start small and grow.
2. Commercialisation: Creating Market Value
Commercialisation is the bridge from a working prototype to a revenue stream. It’s the process of bringing the system or product to the wider market.
Pricing and Value Proposition: Determine how the system or innovation will be priced, how it will be promoted, and the specific, measurable value it provides to the customer.
Go-to-Market Strategy: Outline a clear plan: who is your target customer, what is your launch timeline, and what channels will you use to reach them?
Measure Everything: Remember the core value of the Results-Driven Optimisers in your audience. Track KPIs like adoption rates, cost savings, and new revenue generated.
The Essential Policy: Mistake Tolerance
Scaling leaders know that innovation involves risk. If your business culture punishes failure, you will stifle innovation before it even begins. You must embed a Policy on mistake tolerance.
Fail Forward: Create an environment where controlled experiments that fail are viewed as valuable learning opportunities, not punishable offenses.
Define Boundaries: Not all mistakes are equal. Differentiate between an experiment that yields a negative result (good, necessary learning) and a mistake due to a lack of due diligence (poor execution).
The Post-Mortem: After an experiment fails, dedicate time to a 'Post-Mortem' analysis to document the lessons learned. This knowledge is crucial for future success.
“I have not failed. I’ve just found 10,000 ways that won’t work.” — Thomas A. Edison.
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