How to make money on ideas!
And how not to...

One important thing about serious innovation is getting the best ideas. A second thing is getting the best ideas first. And a third and crucial parameter is making money on the ideas that are put into effect. To get the first two product development phases right and then fail on the business-model is like getting thrown out of your own party.

Ask Apples Steve Jobs, he knows.

In the latest issue of Fast Company the magazine takes a look at the amazing innovative skills of the Silicon Valley based computer company that is as close to corporate religion as it comes. But the religion part does not hide the fact that Apple is superb in delivering products, but a failure when it comes to making money on the market. Apple has introduced things like the graphical user interface, the mouse, the laser printer, and the color monitor and still fights for the bucks. Apple has issued 1,300 patents, almost one-and-a- half times as many as Dell that turned Michael Dell a billionaire, and half as many as Microsoft - which earns 145 times as much money. Fast Company means that if Apple teaches us anything - it is that strategic bottom dollar innovation is about more than producing beautiful and cool things (which of course still is very important).

Here are the top 5 things to remember when you think that you have done everything right, but your Apple-glossy new products still do not make money:

Not All Innovation Is Equal
Technical innovation will earn you lots of adoring fans (think Apple). Business-model innovation will earn you lots of money (think Dell). 
Idélaboratoriet comments: To be a total success on the market - learn from both.

Innovate for Cash, Not Cachet
If your cool new thing doesn't generate enough money to cover costs and make a profit, it isn't innovation. It's art.
Idélaboratoriet comments: And art is a good thing, but don't expect your shareholders to love Mona Lisa too long.

Don't Hoard Your Goodies
Getting to market on time and at the right price is vital. If that means licensing your idea to an outside manufacturer or marketer, do it.
Idélaboratoriet comments: Don't be afraid to let your babies out of the nest.

Innovation Doesn't Generate Growth. Management Does
If you covet awards for creativity, go to Hollywood . Managers get rewarded for results, which come from customers.
Idélaboratoriet comments: And never forget to be creative together with your customers.

Attention Deficit Has No Place Here
Every innovation worth doing deserves your commitment. Don't leap from one new thing to another. If your creation doesn't appear important to you, it won't be important to anyone else.
Idélaboratoriet comments: If you really like it - do it! If you are luke warm about it - don't!

Making new things happen and being the at the forefront of technology and design is still a top priority when it comes to innovation. But don't forget to bring in some guys from sales and marketing along the way - they may just be the difference between the moneymaking i-pod and the i-am-fired.

N E W S

Idélaboratoriet has become the first Scandinavian retailer of the idea management software Idea Central by the Boston based company  Imaginatik. Idea Central 5.0  is the leading Idea Management software application in the world today. It supports the process of focusing creative brainpower on business problems, capturing the ideas in a structured format, developing them in a collaborative environment, evaluating and prioritizing them, and selecting the top ideas for further development.  Idea Central  contains extensive workflow and is highly configurable, allowing companies to quickly implement the solution and reducing the cost of ownership of the software. Idélaboratoriet will start its promotion campaign of the application this spring, but if you would like to have an introduction to the software do not hesitate to contact us for more information. If you prefer to take a look right now then head over to Imaginatik at www.imaginatik.com

Idélaboratoriet is together with Malmö Incubator ( Minc ) and a number of the big multinationals in southern Sweden, launching the business development concept Minc Booster.
The concept is based on two platforms - one is the competence sharing between internal and external research and development experts, and the other one is the possibility of placing spin-offs or joint ventures in Minc's incubator environment. Minc Booster strives to be a globally competitive hotspot for innovation in the Öresund region.
www.minc.se

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