For those with trouble prioritizing which of their next great ideas to undertake, there’s a fun column in the Oct. 20th edition of Business Week: The Seven Deadly Sins of the Innovator [1]:
- Lust: Innovating in a space you have no business being in.
- Gluttony: Trying to create too many initiatives with too few resources. Innovation takes emotional and financial capital and focus.
- Greed: Taking short-term profits at the expense of long-term growth.
- Sloth: Taking short cuts—not doing the hard work, not following the proven process.
- Wrath: Being so focused on your competition that you miss the same opportunities your rivals are missing. You can’t read the label when you are sitting inside the jar.
- Envy: In the context of innovation, envy means launching a “me too” product instead of finding a space you can own.
- Pride: You won’t give up on your favorite idea—even when the numbers prove you’re wrong.
I’m sure I have a hex on my head with #2. Anyone else care to confess? :)