Why Innovation Pipelines Need to Be 10x Your Current Sales
From Define to Deliver
You can call the phases what you want, but typically innovation pipelines start with capturing the ideas and end in delivery when the project is shipped or selling.
Not every project survives this process, in fact, based on data from Jump Start Your Brain’s innovation project management system only 4% of projects that are defined end up in delivery. The means for every idea that completes development, you need 25 unique ideas at the start.
%
of ideas get to delivery
Innovation Success
Organizations who are successful with innovation have 40% of their sales from new products or services that they didn’t sell 3 years ago.
%
of sales should be from new products or services
Pipeline Value Should Equal 10x Your Current Sales
To end up with projects worth 40% of your sales in deliver,
you need to start with a collection of projects worth 10 times your current sales.
10 * 4% = 40%
Enough New Sales to Prevent Decline
40% is a healthy balance that reflects a companies ability to generate new sales from new products but also have successful products still in the market for more than 3 years. Most companies need help creating more new products and service to go from about 15% up to 40%. On the other side are other companies that have closer to 100% of sales from new products, because nothing last. This could be due to the nature of their industry, but often times they need bigger ideas, that can be patented and provide sales for the long term. With a healthy innovation pipeline, companies can introduce new products as past offerings are done peaking. This strategy prevents the companies overall sales from a decline.
Assess Your Pipeline
A short 8 question survey to about your innovation problems, so we can recommend which innovation systems to learn and apply.
The Path to Success
More Ideas
If you know what percent of ideas survive your development pipeline, then you can create more ideas at the start in hopes of having enough ideas at the finish.
Bigger Ideas
Inventing bigger ideas at the front that have a bigger ROI allows you to succeed with innovation without more projects in the pipeline.
Better System
Improving an innovation system can result in both decreased risk and increased speed. If your company is not able to develop ideas that are meaningfully unique, then you need to fix the system.
Fill Your Pipeline
Our most popular services help your fill your “what’s next” pipeline with quick wins and disruptive game changers. Perfect for organizations that want to pivot and win.
Eureka! Winning Ways
Get up and running with new ideas for growth in less than 30 days.
For small & mid-size companies
Eureka! Inventing
Fill your new product/service pipeline with horizon 1, 2 or 3 innovations, complete with customer feedback, prototyping, ROI and feasibility scoping.
For large companies
Eureka! Labs
Accelerate development of a new concept into test market using our in-house R&D, Incubation and Production capabilities
For food, beverage & pharma
The Eureka! Ranch Has Helped Companies Invent Wow Ideas and Pivot Faster with Innovation for over 30 Years
About Us
Eureka! Ranch was founded more than 35 years ago by Doug Hall. Doug was at P&G and got a record number of innovations shipped in a short period of time with a tiny staff and budget (9 products in 12 months with a team of 3). He did this by using a systems approach because of his knowledge of the work of Dr. W. Edwards Deming, the inspiration for Lean, Total Quality, and Six Sigma.
Doug left P&G and founded Eureka! Ranch and started helping large companies like Nike, American Express, and Disney create big, disruptive ideas, which it continues to do today.
By the early 2000s, it became clear that some companies did not have the systems in place to commercialize the disruptive ideas Eureka! Ranch helped create. They would either compromise the ideas (to pass Stage-Gate milestones) or even kill them due to fear of change.
That experience inspired a sabbatical at the University of Maine and the creation of a new field of study, Innovation Engineering®. It includes 48 skills or competencies for creating, communicating, and commercializing meaningfully unique ideas and system-driven leadership skills that help innovation leaders implement the system company-wide. It teaches people to create disruptive ideas like we do (not guru, it’s a system) but also teaches them what to do next – all the way to market/implementation.
Today the Ranch is led by CEO, Maggie Nichols, and a strong cadre of innovators, engineers, educators, and programmers, with founder, Doug Hall, remaining actively engaged as CIO and on special projects. We help organizations in 3 ways: 1) building their innovation pipeline, 2) improving their innovation process, and 3) training their people to think more innovatively. We work with large multinationals, non-profits, and small and mid-size companies around the globe to help them think & act smarter, faster & more innovatively.
Learn More About Us.