Episode 212: Avoiding Common Pitfalls in Corporate Innovation with Ben Hafele

Listen to this episode from Product Thinking on Spotify. In this episode of the Product Thinking Podcast, Melissa Perri is joined by Ben Hafele, CEO of Lean Startup Company, to explore the complexities of corporate innovation. Ben shares insights on how large companies can effectively integrate lean startup methodologies into their existing frameworks. They discuss the importance of aligning innovation efforts with business strategies and how to avoid falling into the trap of unnecessary complexity. This episode is a must-listen for anyone interested in fostering meaningful innovation within large organizations while maintaining strategic alignment.Are you looking to navigate the challenges of corporate innovation and strategic alignment? Tune in to this episode for valuable insights from Ben Hafele's experience with lean startup methodologies.You'll hear us talk about: 10:45 - Establishing Connective Tissue for Innovation:Ben introduces the concept of creating a "connective tissue" that links build-measure-learn cycles with overall business strategy. He explains how fostering this connection ensures that every experiment conducted is aligned with the company's broader objectives. 22:17 - Balancing Experimentation with Strategic Goals:The discussion delves into the challenge of balancing experimentation with strategic goals. Ben shares approaches for ensuring that innovation initiatives do not deviate from the company's strategic priorities, maintaining relevance and purpose. 45:30 - Overcoming Complexity in Corporate Innovation:Ben and Melissa discuss ways to overcome the inherent complexity in corporate innovation. They highlight practical strategies for simplifying processes and ensuring that innovation efforts remain effective and focused on delivering value.Episode Resources: Ben Hafele on LinkedIn: https://www.linkedin.com/in/ben-hafele/ Lean Startup Co: https://leanstartup.co/ Sign up for a free Liveblocks account: ⁠https://liveblocks.io/⁠Timestamps:00:00 Coming Up00:47 Dear Melissa11:25 What Defines a Startup?19:08 The Importance of Strategic Filters24:38 The Innovation vs. Legacy Divide31:35 B2B vs. B2C Experimentation Challenges39:50 The Right Way to Build Capability in Organizations46:42 Evolving Corporate Innovation