Download - ROI: Return On Imagination
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REAL ROI(Return On Imagination)
© Idea Champions, 800-755-IDEA
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We dedicate this show to all top-of-the line
managers whose job it is
to watch the bottom line.
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We know your job isn’t easy,
having to balance short-
term needs with long-term
development efforts.
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We know you are operating under a lot of
constraints and everyone seems to be competing
for the same resources.
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The innovators think you’re too
conservative and the
conservative folks think you’re too
innovative.
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You can’t afford to fail and – at the same time –
you can’t afford not to try
something different.
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Clearly, you need a breakthrough,
but you also need to make sure
things don’t break down as you
proceed.
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It is in these rough waters that you find
yourself repeating the same 3 letters
whenever approached by a
starry-eyed innovator.
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ROI
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In French, it means “King.” In your world, it has become king. It is
the criteria you use to decide on what projects to
fund.
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But ROI is a funny thing – a guess at
best, an attempt to foresee the
future (based on the past) and your
own gut feel.
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What business leader doesn’t want
a good return on investment?
Anyone in their right mind (or is it
right brain?) would.
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The problem is this: even the
savviest of business leaders
don’t always know what projects will
result in a good ROI.
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And the challenge
becomes even stickier when you
are aiming for game-changing
ventures.
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Who could have foretold Chester Carlston’s ROI
when he invented xerography?
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Who could have guaranteed 3M’s ROI
when Art Fry came forward with the idea
for the post-it?
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Who could have predicted Dell’s ROI when Michael Dell
conceived the notion of going direct to the
customer?
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And of course, the opposite is true, as well. “Sure things”
don’t always result in a profitable ROI.
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Petco bombed in its attempt to go direct to the customer. And Enron’s
creative partnership scheme? Polaroid’s
attempt to reinvent itself?
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No one can deny the fact that ROI is a useful tool when it comes to easily measurable projects.
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But it is far less useful when it comes to
evaluating the viability of an innovative new product or service.
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Well then, what is a forward-thinking,
bottom-line oriented business leader to do?
Is there any hope?
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Yes, there is. (And in the words of nobel-prize winning
physicist, Niels Bohr, the hope lies
in the basic paradox of it all).
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“Now that we have met with paradox,” said Dr. Bohr, we
have some hope of making progress.”
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And the paradox for YOU, as a key
decision-maker with the challenge
of growing your business during
these tough times?
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How to take a risk without
seeming to take a risk that will be
risky for you to explain to your
risk-averse peers.
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HINT #1: Small companies do this
better than big companies and start-
ups do this better than small companies.
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HINT #2:
(from Albert Einstein) “Imagination is more
important than knowledge.”
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AND SO... If you are trying to decide whether or
not to fund any organizational efforts
to spark innovation.
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ASK YOURSELF:
1. Will it open minds?2. Spark new ideas?3. Challenge old assumptions?4. Teach new tools?5. Increase collaboration?6. Catalyze commitment?7. Quicken communication?8. Energize the workforce?9. Get results?
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Yes, ROI is important.
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All we’re asking you to do is expand your definition
of it to include a new, perspective…
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Return On Imagination
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The results won’t show up overnight, but then again how long did it take for vulcanized rubber to go from concept to execution? The PDA? The
post-it? The ball point pen?
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Your company’s biggest capital asset? The collective brainpower, imagination, and commitment of its workforce.
Invest in that!
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“If not you, who? If not now, when?”
Idea Champions • 800-755-IDEA