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How To Land A Chief Innovation Officer When You Can't Afford One

CenturyLink

Part of a series of stories recognizing National Small Business Week

A generation ago, the use of analog technology was a badge of innovation. But times change quickly. IT became critically important as salespeople learned they could get the jump on rivals by digitally organizing their contacts, businesses with an early web presence created e-commerce, and digital document storage saved them time and money.

As the complexity of technology grew, so did the demands of managing it. A subsequent C-suite expansion gave rise to chief officers of information, technology and now innovation.

The chief innovation officer, or CINO, carries a mantle that previously may have been the responsibility of the other chief execs caught up in the care and feeding of the company’s information technologies.

It is the duty of chief innovation officers today to refresh the company’s commitment to growth through novel, unexpected and experimental gambits. While 20 years ago chief innovation officers evaluated what e-commerce could do, today they guide investments in unconventional customer channels, explore the potential of mobile and virtual reality platforms, and investigate new lines of business. They need to know which areas to pursue or disrupt and which technology will move the company in a desired direction.

Although many large organizations can afford to expand the C-suite to make room for a dedicated chief innovation officer, most small businesses cannot. Small businesses can, however, designate an existing executive or employee to assume the role.

For small businesses considering whether to appoint a chief innovator — even if the new title might not come with a chief executive salary — here are four tips for what to do:

1. Start At The Top.The responsibility for innovation might already be in place at the top of your organization, said Bill Sanders, principal and senior consultant at Roebling Strauss, a consultancy specializing in custom project and management solutions.

“In a small company, the owner or leader needs to be the direction setter — financially, for marketing and for innovation,” he said.

This is often the business owner, president or principal. But sometimes chief executives get off track. Sanders invokes an argument put forward by small business strategist Michael Gerber — that small business leaders can trap themselves in tactical roles instead of exercising true leadership.

Abdicating responsibility to drive innovation could be a sign that the leader is too deep in the weeds to truly lead. If this is the case, someone else might be better at spearheading innovation.

2. Keep An Open Mind.Your CINO-in-waiting could be working anywhere in your company. Telltale behavior makes candidates easy to spot.

“Without exception, it is someone who asks to do something, or learn something, or be a part of something above and beyond their day-to-day responsibilities,” said Bryce Austin, a veteran CINO.

Effective chief innovation officers don’t necessarily have to fill whiteboards with new ideas. Being able to cultivate ideas from anywhere in the organization — and pick winners — is what’s important.

“Ideas don’t just come from people with a ‘C’ in their title,” said Deidre Paknad, CEO of collaboration platform Workboard. “They come from everywhere. The C-suite’s job is to harvest those ideas and make them reality.”

3. Encourage Everyone To Think Big. Small businesses also have the option of encouraging innovation throughout the company.

“Every quarter, some of our clients ask (their staff) for 10 innovative concepts in product, process or customer experience, and then to bring two of them to fruition,” Paknad said. “It’s a way of institutionalizing the idea that innovation is part of who you are as a business and part of what you do every day.”

4. Consider A Consultant. Your ideal innovation mentor might be working at a company in your area but outside your industry.

Find them by joining local professional groups, such as the National Association of Women Business Owners, which matches mentors with members, or your local Rotary Club, chamber of commerce, or U.S. Small Business Administration office.

Advisers might also be found among the business faculty at nearby colleges. Some teach business innovation courses, which in themselves can be helpful. One locally focused group, Chicago Innovation Mentors, supports new tech ventures by drawing upon resources at colleges and the Argonne National Laboratory.

Stay Focused On the Business No Matter What

Above all, ensure that the chief innovation officer understands your core business challenges, not just the landscape of innovation.

“A trusted adviser to your organization who has a genuine passion for the industry you are in and for cutting-edge technology can fill this role best,” Austin said.