Ship and iterate. This innovation principle is the updated version of former Google executive Marissa Mayer’s 2008 “innovation, not instant perfection” innovation principle. “Ship and iterate” means to ship your products out to market early and often rather than waiting until they are absolutely perfect to take them to market.
Celebrating success and discouraging failure is a familiar binary for most, but what would happen if a business decides to reverse that paradigm? What if we celebrated failure, and discouraged dwelling on our successes? This may seem completely counterintuitive and many would balk at such a consideration, but consider this: how often has a given company released a successful product only to find itself shuffled into irrelevancy a few years down the road?
There are many possible roads to innovation. Successful innovation means defining your own road. Much like Nik Wallenda’s walk across Niagra Falls, some of the best innovations come from stepping outside your own comfort zone and balancing the many different facets of innovation. The formula for success in innovation is about finding the middle ground, walking the tightrope between risk and innovation; between ideation and value creation. The Innovation Balancing Act.