Author Topic: Google's 8 Innovation Principles  (Read 410 times)

0 Members and 1 Guest are viewing this topic.

Offline G1ng3rBr34dM4n

Google's 8 Innovation Principles
« on: November 10, 2014, 06:19:41 pm »
Just received Peter Diamandis' latest "Tech Blog" e-mail newsletter and thought you all might find it interesting.  Below is an excerpt outlining the 8 innovation principles of Google.  I believe these innovation principles have been [or will be] applied to the BitShares platform.  At the very least - a few ideals to stay cognizant of when developing a world-changing product...  ;)  What do you guys think?

Google's 8 innovation principles

The following principles are derived from a 2011 article by Google's SVP of YouTube, Susan Wojcicki.

  • Focus on the user: Larry Page, Jeff Bezos, Richard Branson, and many other successful entrepreneurs speak about the importance of building customer-centric businesses. Everything you do should solve a problem or fill a need for your "user."
  • Open will win: In a hyperconnected world with massive amounts of cognitive surplus, it's critical to be open, allow the crowd to help you innovate, and build on each other's ideas.
  • Ideas can come from everywhere: Ideas are everywhere these days, and tapping into the power of the crowd is the best way to succeed fast. This is the basis for XPRIZE itself – when you're looking for a breakthrough, turn to crowdsourcing for incredible ideas, insights, products and services.
  • Think big, but start small: This is the basis for Singularity University's 10^9+ thinking. You can start a company on Day 1 that affects a small group (with a minimally viable product), but aim to positively impact a billion people within a decade.
  • Never fail to fail: The importance of rapid iteration: Fail frequently, fail fast and fail forward.
  • Spark with imagination, fuel with data: Agility—nimbleness—is a key discriminator against the large and linear. And agility requires lots of access to new and often wild ideas and lots of good data to separate the worthwhile from the wooly. The most successful startups today are data-driven. They measure everything and use machine learning and algorithms to help them analyze that data to make decisions.
  • Be a platform: Look at the most successful companies getting billion-dollar valuations -- AirBnb, Uber, Instagram, Whatsapp -- they are the platform plays. Is yours?
  • Have a mission that matters: Does the company you're starting have a massively transformative purpose (MTP)? Passion is fundamental to forward progress, and having an MTP is absolutely necessary to keep you moving during the most difficult times, keep you focused and attract the best talent to your company.

Offline feedthemcake

  • Full Member
  • ***
  • Posts: 158
    • View Profile
Re: Google's 8 Innovation Principles
« Reply #1 on: November 10, 2014, 07:14:15 pm »

Offline hadrian

  • Sr. Member
  • ****
  • Posts: 467
    • View Profile
  • BitShares: hadrian
Re: Google's 8 Innovation Principles
« Reply #2 on: November 10, 2014, 09:32:04 pm »
Wooooooo!!!!! This is, like, pretty much, like, what's been going on around here!!! :-* :P :P 8) ;D :) :P ;) 8)

"Agility—nimbleness—is a key discriminator against the large and linear" BitShares vs Bitcoin

We'll soon be at a good point to start acting more on solid data gained from proper feedback as the marketing tests kick off.
« Last Edit: November 10, 2014, 09:34:43 pm by hadrian » | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline G1ng3rBr34dM4n

Re: Google's 8 Innovation Principles
« Reply #3 on: November 10, 2014, 09:42:31 pm »
"Agility—nimbleness—is a key discriminator against the large and linear" BitShares vs Bitcoin

Great point.  The challenge will be to maintain agility at scale.