Law 2: It’s the Law! One Great Innovation Starts with at Least Three Good Ideas - Lorraine Marchand

Lorraine Marchand

Albert Szent-Györgyi once said, “innovation is seeing what everybody has seen and thinking about what nobody has thought.”

A life sciences consultant, speaker, writer, and professor — Lorraine Marchand is an expert at showing entrepreneurs how to communicate the value of their innovations to investors.

Professor Marchand is bringing forth the key to innovation in her upcoming book ‘The Innovation Mindset’.

We are in an ongoing conversation with Lorraine to discuss her upcoming book The Innovation Mindset. Our monthly conversations provide a sneak-peak into what’s to come, and how to grow and nurture an innovation mindset. During this conversation, Professor Marchand shares the Second Law of Innovation.

Lorraine, over the past months you have provided us with interesting insights into your upcoming book. You shared what innovation really means and then went on to tell us about the First Law of Innovation. Tell us about the Second Law.

“The process of innovation starts with the right attitude — the “Innovation Mindset” that gives my book its title. It’s a frame of mind that welcomes change — that is biased toward asking questions and solving problems. This is the starting point. From there you must then lay down the Law — the Eight Laws of Successful Innovation. Let me tell you about the second law of innovation.

“While Thomas Edison and his Menlo Park team may not have used this word, they would have been familiar with the process of “brainstorming” — generating ideas or possible solutions with few if any constraints. And that’s the kind of free exchange of ideas you will need to foster with your colleagues as you develop three possible and innovative solutions to the problem you’ve identified.

“In the second law, we will look at the rules for brainstorming, idea generation, and selecting the best solution(s) for an MVP (minimum viable product) and prototype. It concludes with the next, critical step after brainstorming — a clear problem statement and possible solutions. At this stage of innovation — it’s time to commit!”

Thanks for sharing, Lorraine.




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