Shark Tank Your Gate Meetings

Shark Tank Your Gate Meetings

A gated product development process implemented to scrutinize projects needs to have teeth to ensure weaker concepts don't squander resources. The T.V. show Shark Tank (and the UK Equivalent Dragons' Den) teaches businesses the importance of being ruthless with weaker projects. Decision makers should be swayed by data and facts, and not by emotions or personalities. Gatekeepers need to scrutinize the potential of each project, looking to invest money wisely to deliver maximum returns. For a good gate meeting, there needs to be high visibility and fact-checking to ensure that each product has the best chance of being successful.

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Maximizing the potential impact of employee ideas can provide a competitive edge for a company. This article outlines the key steps to create an effective idea generation process, from submission to implementation.

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The concept of Open Innovation has given rise to Crowd Innovation where companies open up the process to internet users to co-create business innovations.

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