How to Kill a Unicorn
A practical guide to fostering innovation and turning bold ideas into reality.
Summary of 5 Key Points
Key Points
- Understanding ‘unicorns’ in business context
- The seven-step Innovation Delivery approach
- How to generate and select breakthrough ideas
- Transforming ideas into actionable projects
- Avoiding pitfalls in the innovation journey
key point 1 of 5
Understanding ‘unicorns’ in business context
‘Unicorns’ in a business context refers to privately-held startup companies valued at over $1 billion. They have a unique status because of their rarity and power. The word ‘unicorn’ creates an image of a mythical, one-of-a-kind creature, symbolizing the rarity of such successful ventures in the business world. The companies that reach this status have achieved something very unique and are often seen as leaders in their respective industries…Read&Listen More
key point 2 of 5
The seven-step Innovation Delivery approach
In the seven-step Innovation Delivery approach, the first step involves identifying and understanding the core challenge. This means dissecting the problem thoroughly to know what needs to be addressed and why. It’s not just about finding a solution but defining the right problem to solve. This involves rigorous research, questioning assumptions, and getting to the heart of what the real issue is…Read&Listen More
key point 3 of 5
How to generate and select breakthrough ideas
The generation of breakthrough ideas requires fostering an environment that allows innovation to flourish. It necessitates a blend of creative thinking, collaboration, and an open-minded approach to problem-solving. Every member of the team should feel free to express their thoughts and ideas without fear of judgment or dismissal. Encouraging diversity of thought and experiences can lead to a wider range of ideas. ..Read&Listen More
key point 4 of 5
Transforming ideas into actionable projects
The transformation of ideas into actionable projects is a central theme in the text, emphasizing that while creative ideas are plentiful, the ability to execute them successfully is what truly matters. The narrative underscores the challenge of turning abstract concepts into tangible, marketable products or services. It stipulates that an idea must not only be innovative and exciting but also feasible, viable, and desirable to the target audience. The process of iteratively refining an idea to fit these criteria is stressed as an essential part of making a project actionable…Read&Listen More
key point 5 of 5
Avoiding pitfalls in the innovation journey
Avoiding pitfalls in the innovation journey is a significant part of the path to success. This involves being aware of potential hurdles and obstacles, and making strategic decisions to navigate around them. It involves a combination of foresight, planning, and adaptability. It is not just about avoiding failure, but about enhancing the chances of success…Read&Listen More