The Houston Tech Rodeo took place last week in a new hybrid platform. The startup event across Houston hosted a multitude of in-person events that were primed for networking. While their digital platform provided a plethora of live seminars from innovators around the country.
One of the virtual sessions on Wednesday, May 19th, examined how to properly build a framework for innovations. The seminar was hosted by R. Leigh Johnson, Business Strategist, and Agile Coach, and was presented by The National Black MBA Association, Houston Chapter, and The Houston Tech Rodeo.
To begin the session, Johnson used a quote that best describes what innovation means at its core, “innovation is the creation of significant new value that did not exist before,” – Greg Satell, Forbes.
Innovation is not only creating a new value but a significant one. An example can be found in one of the stories on txinnovators.com that was published earlier in the week, Draper Startup House (DSH). DSH provides a great example of innovation creating a significant value as the organization allocates its resources to provide housing, assets, and collaboration to aid all levels of entrepreneurs.
Johnson uses a framework to help innovators and startups organize their work teams, provide value for others and ultimately, understand who they are and why they are innovating. By understanding the why, how, and what, an innovator can deliver value to its customers.
Through the use of an innovation circle, Johnson builds a framework to help innovators find clarity, purpose, and an understanding that everything flows from the inside out. If an innovator does not understand what they believe in, then how can they justify or properly dictate their actions?
The innovation circle highlights:
Growth strategy: why are you innovating? What are you trying to do? What is the reason?
Product vision: how are you creating value for your customers? How are you delivering that?
Consistently execute: to standardize your innovation, you must develop consistency with your actions and purpose.
While this innovation circle and frameworks were built off of common sense, understanding where you are, what your purpose is, and then aligning it within your framework is how an innovator can truly deliver that significant, new value.
Johnson was able to summarize his frameworks by dividing them into three categories, the why, how, and what.
Framework: Innovation growth- understanding what the purpose is and identifying a strategy based on your purpose (why).