How can leaders foster innovation even in challenging economic times? In this illuminating episode of the Innovation Meets Leadership podcast, host Natalie Born sits down with Robyn Bolton, founder and chief navigator at MileZero. Bolton shares insights from her extensive experience at companies like P&G and BCG, offering practical advice on structuring innovation within organizations and empowering employees to contribute meaningfully. The conversation touches on the importance of leadership in driving innovation, strategies for maintaining innovation during economic downturns, and the delicate balance between operational excellence and breakthrough thinking. Robyn M. Bolton is the founder and Chief Navigator of MileZero, a consultancy dedicated to helping medium and large companies drive revenue growth through innovation. With a rich background spanning Procter & Gamble, Boston Consulting Group, and Innosight, Bolton brings a unique blend of expertise to her clients. Her approach emphasizes flexibility, focus, humility, and humor, combining proven frameworks with practical, collaborative strategies. Bolton's mission is to unlock business potential, deliver tangible results, and build lasting innovation capabilities within organizations, all while maintaining high standards of work and a commitment to impactful involvement. [00:00:00 - 00:05:59] The Innovation Imperative: Navigating Corporate Challenges 1. Innovation is often a leadership problem, not an idea problem. 2. Short-term incentives can hinder long-term innovation efforts. 3. Brave leaders are needed to invest in innovation for future viability. [00:06:00 - 00:10:59] Weathering the Storm: Innovation During Economic Uncertainty 1. Economic downturns can be opportunities to double down on innovation. 2. Focus on innovations that align with current strategies and priorities. 3. Engaging in innovation can boost team morale during challenging times. [00:11:00 - 00:15:59] Ownership and Integration: Making Innovation Work 1. Different types of innovation require different ownership models. 2. Bridging the gap between innovation teams and core business is crucial. 3. CEO ownership of innovation is vital for organizational buy-in. [00:16:00 - 00:20:59] From Ideation to Implementation: Structuring Innovation Processes 1. Provide a focus for innovation efforts tied to organizational strategy. 2. Require detailed rationales and plans for innovative ideas. 3. Always provide specific feedback on submitted ideas to encourage improvement. [00:21:00 - 00:25:00] Looking Ahead: The Future of Corporate Innovation 1. Economic pressures may spark a renewed focus on innovation. 2. Leadership behaviors and organizational culture are critical for innovation success. 3. Encourage creative thinking balanced with critical analysis to unlock potential. Quotes: "Innovation is I always think of it as a means to an end and when you're in a company and you're innovating, that end has been defined by the company of, you know, what are its short term and long term goals." - Robyn Bolton "Be brave. When you make mistakes, admit it, because that actually gives your team a lot of courage and comfort to make mistakes themselves." - Robyn Bolton Connect with Robyn: LinkedIn: https://www.linkedin.com/in/robynmbolton/ Website: https://www.milezero.io/about/ LEAVE A REVIEW + help someone empower their businesses through collaboration, innovation, and transformation by sharing this episode or clicking here to listen to our previous episodes. Check Natalie's new book, SET IT ON FIRE: The Art of Innovation, available now at setitonfire.co These are proven solutions to advance your leadership and innovation process. Check out our website innovationmeetsleadership.com, or connect with me on Linkedin, Facebook, Instagram, Twitter, and Youtube. Don't forget to subscribe and leave a 5-star review. Let's go transform something! --- Support this podcast: https://podcasters.spotify.com/pod/show/natalie-born/support
