Most companies, after they’ve identified an idea with potential, run in to a brick wall when they try to implement those ideas. One of those obstacles is a lack of internal support which leads to an absence of the timely information and data needed to transition from dream to reality.
“How do you expect to be an adaptive, innovative organization that can quickly profit from inevitable change, when every new idea has to reinvent the support infrastructure ‘wheel’ needed to develop those ideas and bring them to market?” remarks Christopher Gayle, CEO of Capital Genesis LLC.
On the most basic level, your business must have in place some formal mechanism that allows all departments to have rapid and accurate access to all information within the company. An Intranet would be great for this task. Every idea, project, deadline, financial forecast – all internal information and data should be accessible to everyone in the company – uncensored and unfiltered. This system you create need not be big and complex, but if this system does not exist in your organization, make it happen.
Once you have a working system of information sharing, the next step is to put in place a simple mechanism for all departments and key customers to provide input in evaluating, supporting and developing new ideas into a marketable product. First, the inter-departmental team must evaluate the potential of the new idea and determine if this is something your company should pursue. If the decision is made to move forward with the new idea, the next step this team should take is to formally schedule time and resources to help transform the idea into a marketable product.
With a system of free information flow functioning and with a mechanism for channeling all the talents each individual department brings to the effort, blind spots can be avoided, preventing delays and costly mistakes. Inevitably with such a system in place, the turn around time from idea to marketable product will be greatly reduced, allowing you to realize your ROI much sooner than was previously possible.
Copyright 2006 Christopher A. Gayle & Capital Genesis LLC ©. All Rights Reserved.
