Is Your Innovation Strategy Built to Last?
The Innovation Problem You’re Ignoring
Most innovation strategies fail—not because of a lack of ideas or talent, but because they’re built on a cracked foundation.
What’s missing? The platform
And no, I don’t mean technology. I’m talking about the invisible infrastructure that aligns your people, processes, and purpose. It’s the belief system your team buys into, the tools they rely on to execute, and the way knowledge is captured and shared.
Without this, even the boldest vision will collapse. And here’s the kicker: most organizations either overlook this entirely or assume their existing tools and culture will “just work” for innovation.
Spoiler alert—they won’t.
The Bank That Claimed to Innovate
A global bank once proudly displayed the phrase “Nurturing a Culture of Innovation” on giant screens in their lobby.
But upstairs, the story was very different.
When asked what those screens said, their innovation leaders couldn’t answer. They walked by the message every day, yet it meant nothing to them.
The statement on the screen was just that—a statement. No action. No systems. No platform.
Even worse, when pressed about their innovation goals, they admitted it wasn’t about creating new value. Instead, their focus was on maintaining regulatory barriers to keep competitors out and preserving the status quo.
That’s not innovation. It’s just survival. And without a real platform to support innovation, that’s all they could
The LEGO Turnaround: A Platform That Works
Now, let’s talk about a company that gets it.
In the early 2000s, LEGO was on the brink of collapse. Profits were plummeting, and the company’s leadership was in crisis. The problem? LEGO had lost sight of its core purpose and failed to adapt to changing consumer behaviors.
Here’s what they did differently: they didn’t just launch new products or hire a team of “innovation experts.” They rebuilt their platform.
A Clear Belief System: LEGO refocused on its mission to inspire creativity in children and families. This wasn’t just a slogan—it became the guiding principle behind every decision, from product development to marketing.
Knowledge Management Done Right: LEGO started capturing insights from every experiment, whether it succeeded or failed. For example, their LEGO Universe video game flopped, but the data collected helped them improve their understanding of digital play, paving the way for future successes like LEGO Mindstorms and LEGO Ideas.
Tools for the Job: The company invested in tools and processes that allowed teams to innovate quickly. They created systems for collaboration between designers, marketers, and even their customers. The LEGO Ideas platform, for instance, lets fans submit product ideas, vote on them, and bring the best ones to market.
An Environment That Encourages Creativity: LEGO redesigned its workspaces to promote collaboration and experimentation. They built physical and digital spaces where ideas could flow freely, allowing employees to test and iterate rapidly.
The result? LEGO went from near bankruptcy to becoming one of the most innovative and profitable toy companies in the world. Their platform wasn’t just about saving the company—it became their competitive edge.
Take Innovation to the next level with Next Lab
If you’re wondering how to build the kind of platform that powers true innovation, let me save you some time: check out Next Lab.
Next Lab is designed to help organizations move from ideas to impact. It’s not just a tool—it’s a complete system that gives your teams what they need to innovate effectively:
Capture Knowledge: With built-in tools for tracking insights and experiments, Next Lab ensures nothing gets lost, no matter how many projects you’re running.
Align Your Team: Next Lab’s frameworks help you clarify your mission and align your team’s efforts around shared goals. (Learn more on Next Cycle).
Focus on the Right Opportunities: The platform helps you prioritize and track the most promising innovation opportunities, so you’re not wasting time on dead ends. (Learn more on Serious Capital and Portfolio Management).
Work Smarter, Not Harder: From collaboration tools to decision-making dashboards, Next Lab gives you everything you need to streamline the innovation process.
Innovation doesn’t have to feel chaotic. With Next Lab, you’ll have the structure, tools, and insights to turn your boldest ideas into measurable results.
What You Can Do Today
If you’re serious about implementing an innovation strategy, start here:
Define Your Belief System. What does your organization stand for? And more importantly, does your team know it? Make your mission more than just words—make it the foundation for action.
Build a Knowledge Engine. Start capturing insights from every project. Whether it’s a breakthrough or a failure, every piece of data adds value to your innovation efforts.
Invest in Tools That Work for “Next.” Stop relying on tools designed for yesterday’s challenges. Equip your team with resources like Next Lab that support experimentation, collaboration, and progress tracking.
Redesign Your Environment. Innovation isn’t born in sterile offices or endless meetings. Create spaces that invite curiosity, collaboration, and serendipity.
LEGO’s transformation didn’t happen because of a single product or campaign. It happened because they rebuilt their foundation—one that aligned their people, processes, and tools around a shared mission.
It’s about building the platform that turns those ideas into reality.
If your innovation strategy feels like it’s crumbling, the problem could be in your platform. Fix that, and the breakthroughs will follow.
Let’s make next happen.