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Open Innovation Myth #1 – It Takes Longer

Tue, 06/29/2010 - 15:14 -- admin

There appears to be a belief in some companies that it takes too long to set up the necessary infrastructure and links for open innovation.  "By the time we’ve set up the OI project, we could have finished the project internally'. The first time you do anything you haven’t done before it takes longer.  If you took that attitude consistently you would do everything the way you’ve always done it.

Innovation Fixer believes it is actually QUICKER to do many projects using Open Innovation, a view supported by experience.  There are several reasons for this

- in general, there are more solutions outside your business than inside – so go and find them.

- if you’re looking to build new competencies, by the time you’ve done it, those people who are already experts will still be way ahead of you – so go and work with them from the start.

-  once you have the OI option up and running, it complements your internal expertise and resource.

If you haven’t done it before, build the competencies in parallel, either by using OI on projects with a comfortable priority; or applying a little extra resource to existing projects to find complementary external solutions.  Putting the extra effort in up front enhances your organizational capability and will be more than worth it. If you’re still not sure – call us.

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