Whether you are at the stage of starting or completing a new innovation project, designing experiments, prototyping, or being stuck with your pivot, having an unbiased external view is often eye-opening and highly beneficial. Working with both venture- and project-level innovation failures for the past few years, I am happy to share my experiences about the mindset, techniques, and methods that help innovation projects succeed without wasting valuable resources.
I particularly enjoy looking into "failure portfolios" and analyzing them for corrective and preventive actions. I am fascinated by the new avenues that innovation failures can create for individual entrepreneurs and innovation teams alike.
While analyzing your “failure portfolio,” I might spot a project, typically requiring a radical pivot, which I would consider worth revisiting. Here you have three options:
Option 1 (highly recommended): Allow me to hold a PIVOT workshop for free where your commitment is only the investment of circa 2–3 hours from the members of the original team. If the outcome of the workshop develops further in your organization and becomes a new product or service, I take 5% of your EBITDA—generated from that project in the form of a royalty.
Option 2 (recommended): Allow me to hold a PIVOT workshop for a one-time fee only, where your additional commitment is the investment of circa 2–3 hours from the members of the original team.
Option 3 (not recommended): Let a potentially successful new product or service idea slide into your drawer and be forgotten, possibly forever.