A note from the editor: Everyone loves talking about innovation. I mean, it’s hard not to get excited about the next big thing, or the initiative that’s going to save everyone 1000 hours and make the company 10x more money. Talking about innovation and practicing it, though, are two very different things. Our Chief Technology Officer, Frank DeGeorge offered his thoughts on how we at Impact think about and approach innovation.
In his piece, DeGeorge talks about the Gartner Hype Cycle, how to map a path that sets you up for success, and the bamboo principle. All of which come together to create a holistic and philosophical approach to practicing innovation and implementing change.
You can read the full article below, and find additional content by DeGeorge on his LinkedIn!
If you’re looking for more inspiration on both ideating and implementing innovation in your business, watch Impact’s webinar, How to Identify High-Value Opportunities for Innovation!
Mastering the Ups and Downs of Innovation
What does fried chicken, tech adoption, and business innovation all have in common? 🤔
HYPE!
I’ve written about growth at Impact and the relationship between personal, professional, and company growth. I’ve written about successful failures, tech strategy, growing pains (and shrinking pains), and now, I’d like to talk about innovation. Specifically, the rhythm of innovation and hype.
Understanding the rhythm of innovation is critical, and not just for tech initiatives, but also in making general business improvements and quite frankly, any type of change. (Even the hype around a chicken sandwich got a spot in Business Insider - Yum!)
Ok, back to business.
Patrick Layton and I discussed business innovation and change during our LinkedIn Live, if you’d like to learn more. One model for business innovation that comes to mind that will help guide this conversation is the Gartner Hype Cycle.
The Gartner Hype Cycle provides a framework to help visualize the maturity, adoption, and social application of new technologies and concepts. It helps guide these engagements and connect expectations. And really, it did predict the rise and eventual plateau of the Popeye’s chicken sandwich when you think about it. (Ok, really back to business now.)
See the Gartner Hype Cycle here!
What Is the Gartner Hype Cycle?
The Hype Cycle (from Gartner) is essentially a graphical representation that tracks the life cycle of a technology (and apparently fried chicken 😆) from the "Innovation Trigger" to the "Plateau of Productivity." This framework helps identify the stage a technology or a business concept might be in following its movement from original hype to adoption.
For us at Impact, this isn't just about technology, it’s about aligning all of our business initiatives with these insights to maximize success.
From Innovation to Maturity: Mapping Our Path
- Innovation Trigger: This is where new technologies or ideas are conceived. For Impact, this might mean exploring novel tech or business changes that promise to revolutionize our operations or service offerings.
- Peak of Inflated Expectations: At this stage, excitement builds, and sometimes so does speculation. Here, it's crucial to clearly communicate the realistic potentials and limitations, setting the right expectations around capabilities.
- Trough of Disillusionment: Every new initiative inevitably faces challenges or falls short of initial hype. It’s during this phase that the principle of ”watering the bamboo” becomes essential. This means staying committed and continually investing in and nurturing the initiative despite a lack of immediate results.
- Slope of Enlightenment: As understanding and experience grow, adjustments and optimizations begin. Lessons from early setbacks inform refined approaches that gradually enhance performance and integration into our business processes.
- Plateau of Productivity: The new technology or business strategy becomes mainstream. Its benefits are widely recognized and accepted, proving that early persistence paid off.
Aggressive Patience and the Bamboo Principle
The concept of ”watering the bamboo” is particularly relevant during the Trough of Disillusionment. Bamboo farmers water their plants for years without seeing above-ground growth, yet they persist because they know the growth, when it comes, will be rapid and impressive.
Similarly, at Impact Networking, LLC, we exercise ”aggressive patience.” We actively work on our commitments while patiently waiting for results, understanding that success in technology and business often takes time to manifest.
However, just as is the case with our managed IT business, many times, impressive growth is the result. Or, an idea leads to substantial change, like opening our Impact Studios facility that includes revolutionary tech, even though we’ve been doing videos internally for years. Learn more about aggressive patience and watering the bamboo here in this video from two incredible professional leadership coaches, Lucas Jadin and Steve Jones!
Bridging Technology and Business Growth
Whether we're integrating new tech or launching a new division, the Hype Cycle helps us understand the complex dynamics of growth and innovation. This strategic patience ensures that when we commit to a new path, we're prepared to not only face the inevitable challenges but also to persevere when they arise, leading to sustained growth and success.
At Impact, we recognize that the journey through the Hype Cycle isn’t just a technological process but a business philosophy that has persistence, informed expectations, and strategic timing. It’s how we turn potential into performance, aligning both our technology initiatives and our broader business strategies with the natural rhythm of innovation.
For more information on folding organic innovation into your organization, watch Impact’s webinar, How to Identify High-Value Opportunities for Innovation!
