You're faced with innovation and deadlines. How do you strike the right balance?

In the dietary supplements industry, product innovation often takes the form of new product development. It’s very important to have a priority list of the innovations/new product developments. And, in the backdrop of all your efforts, there are time considerations coming from the internal team, as well as from your customers. Whether it’s a trade show when the innovation debuts, or your customers need to submit the product within a certain time frame, your most important tactic will be your prioritize the tasks so that importance can be given to the most consequential advancement.

Here's a rewritten version of the text: Innovations vary in importance. Focus on core 'must-have' features that directly support your main value proposition. Avoid getting sidetracked by 'nice-to-have' add-ons. This helps your team prioritize impactful innovations that meet deadlines. Adopt an iterative process and set practical timelines and roadmaps.

First important point when considering the time vs. innovation paradox is that innovation is a process that takes time. That's means, companies need to follow continuous process to be able to innovate. And here I am not saying that innovation is achieved through a cake recipe, far from it, what I mean is that innovation is achieved through trial and error, through cycles that are done and redone and perfected until they reach the state of the art. Knowing that innovation takes time, it is extremely important that activities that are more relevant to achieving the company's objective need to be prioritized, thus avoiding a dispersion of focus and consequently time and effort are channeled towards achieving that objective.

Leverage Collaboration: Foster a collaborative environment where ideas flow freely. Team synergy can spark innovation and meet deadlines. Together, we achieve more! 🤝

I believe in a hybrid approach that combines agile with elements of traditional project management. This "agifall" method maintains agile's adaptability while incorporating upfront planning and documentation from waterfall methodologies. Set clear, overarching goals and milestones at the project's outset, then use agile sprints to work towards them. This approach provides structure and predictability for stakeholders while allowing for iterative development. Additionally, implement regular "step-back" sessions to ensure the project hasn't drifted from its core objectives. This balanced strategy helps maintain focus on long-term goals while leveraging agile's responsiveness to change.

Innovation is a challenge for most companies. One of the factors that most influences this situation is the dynamics of teams around this topic. Research and practical experiences have shown that the less centralized innovation is in areas, people, et cetera, richer and more productive the innovation process is. That is why it is very important for companies to encourage collaboration, exchange and shared construction of innovation. Every idea is relevant and has potential in the right context and at the right time!

Iterate Quickly: Rapid prototyping helps refine ideas fast. Test, learn, and adapt swiftly to meet deadlines without compromising innovation. Keep the momentum going! 🔄

Every product leader encounters a stage in their product execution journey where strong risk management skills are essential. Calculated risk-taking is crucial. Deciding between innovation and deadlines often depends on the level of risk one is willing to accept, whether that means flexibility with the timeline or addressing potential roadblocks in innovative plans. This enhances confidence and facilitates the delivery of innovative solutions within the specified timeframe.

Fail fast, learn faster! Feedback is an invaluable tool for developing an innovative product, especially in a time-constrained context. Lauching the product and consulting users and stakeholders about expected performance and opportunities for improvement helps the product reach out the best state faster.

Striking the right balance between innovation and meeting deadlines involves setting clear priorities, focusing on the most impactful innovations, and using agile methodologies to iterate quickly. Break down the project into manageable phases, allowing for creativity within set timeframes. Ensure constant communication within the team to address challenges promptly and adjust as needed to stay on track while delivering innovative results.