Expert Panel: 15 potential pitfalls to eliminate from the innovation process
Extracted from: 15 potential pitfalls to eliminate from the innovation process| 05-30-2025
In today’s fast-moving world, it takes a spark of creativity to develop a unique product or service that will have a profound impact in the marketplace. But without a clear vision and structured path to take an idea from inception to execution, it won’t make it across the finish line. However, breaking down the innovation process into manageable stages can help companies systematically develop solutions that address real-world pain points and create true value for every stakeholder involved.
Here, 15 leading experts from Fast Company Executive Board each list the common mistakes some companies make when trying to innovate, and why these practices should be avoided.
Shayne Fitz-Coy, Sabot Family Companies
BUILDING AN ‘INNOVATION TEAM’
Don’t treat innovation like a department; make it a habit. I’ve watched companies build “innovation teams” that become expensive idea museums. At my company, we scrapped our innovation group and instead embedded “possibility sessions” into every team’s workflow. The virtual assistant who suggested our best product last year didn’t need whiteboard walls, just permission to question the status quo.
