Calibrating your idea generation pipeline
Do you have an idea generation pipeline? Most large organisations talk about their ‘sales pipeline’. Without knowing all of the details we understand that a) the pipeline should produce a stream of sales b) the pipeline should ideally be full. Linked to this we also understand that to produce a certain volume of sales we need a given number of contacts, sales appointments or exhibitions to go to. To increase sales we simply tweak our pipeline and hey presto, something happens.
When it comes to ideas we are not quite so methodical. Ideas are random and come along whenever they feel like it, right? Well yes and no. A large number of random ideas will at some stage begin to feel less random but the actual ideas (or quality) might still be so.
Imagine a business based on ideas. DIY suppliers such as tool manufacturers consistently seem to be trying to catch our eyes with drills, screwdrivers, unbreakable gardening implements etc. Your sales and marketing department may tell you that to keep ahead of the competition you need to have 5 new products each year in production and ready for distribution. Now let us work from the other end. A typical idea generation session might generate say 1500 ideas of which 150 might be worth considering and 15 worth trying to mock up or create prototypes. This might lead to only 1 product. At least you know that you might need to run 4 such sessions or create over 6000 wacky ideas.
Then you must allow for some sort of customer feedback, production set up etc which means that your year timeframe has now become 6 months! At least if you can calibrate your processes you can actually plan getting an idea from conception to customer, and with feedback built into the system you will get better at it. Then, when your Sales Director says ‘we need a new product for this market, now’ you can estimate the effort and cost required and tell him how long he will have to wait. Remember, miracles we can cope with but the impossible takes a little longer!
The same concept can be applied to services although the ratio of wacky ideas to actual services will be different. Also, because there is little manufacturing involved, services can be brought to the market place quicker.