One of the toughest aspects within Innovation is making the Business Case. Much of the information is imperfect, the returns are often fuzzy and unclear in the early stages and the doubters line up ready to block and deter new ideas from entering the commercialization process. Justifying new innovation can be often really hard to make to others.
How can you reduce down many of these uncertainties?
Often what is missing is ensuring the innovation business case takes a clear methodical approach and builds the arguments up in a sound structured way. Far too many cases are based on emotion and gut feel. Some of these clearly work but an awful lot get lost along the way, especially in the more structured organisation.
So often good ideas are ‘killed’ because the Business Case was not as well thought through as possible. It simply became the necessary chore at the end of a set of events that were in themselves a mountain to climb. It is putting together the best possible business case is the last nine yards, sometimes the hardest to achieve but the accumulation of all your efforts rest on this document in many cases.