3. The Innovation Life Cycle
Now that we know about ideas and the transformative value process necessary to decide whether those ideas should be dismissed, are worthy of becoming inventions, or maybe even are innovations, it’s time to understand in more detail the types of innovation and the life cycle that innovation takes. This is important since where our idea falls in the life cycle will determine how we need to think about the idea and what next steps we take to maximize the value of the idea.
Yes, ideas that are successful (or even some that are not) do go through a life cycle. It can be that the idea is so new and radical that it is a new innovation and must go through all of the growing pains and excitement of initial innovation that ...
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