When did innovation get so complicated? | Tom Pullen | TEDxHECParis

Summary

In this talk on innovation, the speaker reflects on the simplicity and impact of early innovations, such as a woman on a motorized scooter a century ago, and contrasts them with the complexities of today's innovation processes. The speaker highlights three key ingredients for successful innovation: understanding customer pain points, prototyping to test ideas quickly and cheaply, and fostering a culture of innovation within companies. The message emphasizes that while large corporations often get distracted by shiny technologies, the true power of innovation lies in focusing on simple yet effective strategies and nurturing the innovators within the organization.

Takeaways

• 😀 Innovation isn't a new concept; it's been around for over a century, as seen in early examples like motorized scooters.
• 😀 Innovation doesn't need to be complicated. It's about focusing on simple, core elements that drive change.
• 😀 The key to successful innovation is paying attention to customer pain points and solving real-world problems.
• 😀 Startups often succeed by addressing existing frustrations in industries like fintech and grocery delivery, not by flashy technology.
• 😀 Large corporations sometimes overlook customer pain points and focus too much on their brand or internal capabilities, which slows innovation.
• 😀 Prototyping is about learning and refining ideas quickly and cheaply, not about perfect models or success at first try.
• 😀 A willingness to fail and learn from mistakes is essential in prototyping and innovation.
• 😀 The right mindset for innovation is like that of an inventor — persistent and focused on learning from each iteration.
• 😀 Innovation is about people, not just products. Behind every great innovation is a person or team committed to challenging the status quo.
• 😀 Innovation can be taught and cultivated in individuals and teams, as seen in the success of startups and small businesses.
• 😀 Large corporations can drive meaningful, world-changing innovation if they focus on fostering a culture of innovation rather than getting distracted by trends.

Q & A

What was the surprising discovery the speaker made while checking their LinkedIn feed?

The speaker discovered a photo from a hundred years ago showing a woman riding a motorized scooter to work, which made them reflect on the long history of innovation.

How does the speaker define innovation in the context of their talk?

Innovation is not a modern concept but something that has been happening for over a century. It’s about finding solutions to problems, especially customer pain points, rather than being defined by shiny new technologies.

What are the three core ingredients for innovation that the speaker discusses?

The three core ingredients are: 1) Focusing on customer pain points, 2) Embracing prototyping and failure, and 3) Cultivating innovative people.

Why does the speaker mention pain points as a key ingredient in innovation?

Pain points are crucial because successful innovations, like those in fintech or grocery delivery, are driven by the desire to solve customer problems. Addressing pain points creates value and makes businesses more successful.

How does prototyping contribute to innovation according to the speaker?

Prototyping is important because it allows innovators to quickly test their ideas, gather feedback, and make improvements. It’s not about having a perfect model, but learning from the process and iterating.

What mindset does the speaker suggest is necessary for effective prototyping?

The mindset required for prototyping is one of acceptance towards failure and learning from it. Innovators should be willing to face criticism and adjust their ideas based on feedback.

What role do people play in innovation according to the speaker?

People are at the heart of innovation. Successful innovations are driven by individuals or teams who challenge the status quo and push for improvement. Innovation is not just about technology, but about fostering a culture of curiosity and rigorous problem-solving.

How does the speaker view the relationship between large corporations and startups in terms of innovation?

The speaker believes that while startups tend to focus on real customer pain points, large corporations often get distracted by technology and branding, losing sight of the fundamental aspects of innovation. However, large companies have the resources to create meaningful global impact if they refocus their innovation strategy.

Why does the speaker emphasize the importance of cultivating innovative people?

The speaker stresses that innovation is not an inherent trait but a skill that can be taught. By focusing on building innovative people, large corporations can unlock the potential of their existing talent pools and foster a culture of continuous innovation.

What message does the speaker have for large corporations regarding innovation?

The speaker advises large corporations to focus on solving real customer problems, prototype ideas quickly, and invest in building a workforce of innovators, rather than getting distracted by flashy technology and trends.