There was a great article recently in the MIT Sloan Management Review, Using Open Innovation to Identify the Best Ideas by Andrew King and Karim Lakhani, that discusses how to use open innovation, both across your company and with your customers, to find the best ideas. The article describes how companies are opening up innovation (which can be anything from game design to new products to new processes to marketing creative) but also the challenges you face when doing so. As the authors point out, success relies on finding the best ways to organize and manage the process.
Opening the ideation process
The first step in optimizing open innovation is successfully opening the idea-generation process. You need to first decide whom you are opening the process to: your entire team, the company, your key customers, all customers or the world. Once you have selected whom the process is open to, you need to create the optimal way to generate strong ideas. Continue reading
Last week, Mary Meeker published her annual Internet Trends presentation (see embedded presentation below) and as I did last year I went through it to see which trends would most influence the social and mobile game ecosystem. Before highlighting the relevant trends she has identified, I went back and examined how prescient her analysis last year was.
Mary Meeker’s 2012 accuracy
Nobody’s predictions will be perfect, and I am not looking to punch holes in Meeker’s analysis. However, it is useful in looking at this year’s predictions to understand her past performance. The big thing that I noticed is that many of the trends she identified last year have not yet had a chance to play out … or even develop. Thus, many of her prediction this year may not have an immediate impact even if they prove eventually to be correct. If you pivot to leverage these trends too quickly, you may have a product before the market develops. Continue reading
This is a great post on GamesBrief about accounting issues tied to crowd-funding (as a site note, I highly recommend you follow GamesBrief). I have written before about how crowd-funding is increasingly important, especially in the games space. Although the post is focused primarily on the UK (and accounting is different in every country), it highlights some universal issues everyone should be aware of regarding crowd-funding.
As I said, 2013 will be the year of crowd-funding.