Seven Deadly Sins of the Innovator

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.
2. Gluttony: Trying to create too many initiatives with too few resources. Innovation takes emotional and financial capital and focus.
3. Greed: Taking short-term profits at the expense of long-term growth.
4. Sloth: Taking short cuts—not doing the hard work, not following the proven process.
5. 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.
6. Envy: In the context of innovation, envy means launching a “me too” product instead of finding a space you can own.
7. 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? :)