At Ericsson, using the lean startup approach to validate and prioritize new ideas
Some big companies wrestle with ways to get employees to generate new ideas, but that’s not the issue at Ericsson, says Ken Durand, the Head of Innovation at the telecom tech giant’s Atlanta Idea Factory.
Instead, the challenge is deciding which ideas to prioritize based on their economic viability — something the company has been approaching with the lean startup methodology, with its emphasis on talking early to potential customers and testing prototype products with them.
“We have way more ideas than we can possibly implement, so one of the reasons that we’ve really focused on the lean methodologies was because we need a way to evaluate whether an idea was worth doing.”
Here’s a slide that Durand uses in explaining to colleagues what the lean startup metholodogy is: