Most people believe that leading innovators start off with a larger pool of ideas than those who consistently perform poorly in the marketplace. While this is certainly true – if you only start with a few lousy ideas you will end with a lousy product – there is another, and perhaps more important, characteristic of a successful new product innovator’s idea pipeline.
They kill ideas faster!
While successful innovators start with a lot more ideas than those who do not continuously innovate, some studies say twice as many; they also kill ideas faster and fund fewer candidates in the actual product development stage. That ensures that the products that actually have a chance to succeed are not underfunded. If you cannot shoot the marginal ideas fast enough, the potential winners will not only be underfunded, they will also lack the corporate attention to let them succeed.