Adopt innovation accounting for each project: The purpose of InJ Accounting is to establish a form of accountability that communicates the progress of the Innovator’s Journey. These activities create intersections of conversations between innovators and resource providers that decreases risk for innovators. Throughout the Innovator’s Journey there is an emphasis that activities are additive versus standalone. There are three main components to InJ Accounting: portfolio, traction, and workflow outcomes. The emphasis is that innovators produce evidence of innovation taking place within their venture.
Continuously innovate: Find ways to integrate innovation activities into routine planning.
- Good enough at the low end
- Good enough for new niche
- New product/New market
- New product/existing market
Continuously build your audience: Describe product/service frameworks to attract a minimum viable audience (MVA) and provide minimum viable product/service (MVP/S). This approach forces innovators to identify and serve the core needs of a specific audience. You are obtaining feedback and gaining insight to grow this audience. That information enhances product/service development to attract customer opportunities outside of the minimum viable audience.
Development targets (financial or productivity based): continuously develop, reach, & analyze targets related to customer development and service/product development.