Innovation Leadership

6    You have the idea, now how do you fund it?

Juliette Kleinmann

So, you have an innovative idea? How do you get your leadership team to get on board to fund it? Innovations require funding and the persuasion of leadership teams to support the initiative. Draper (2015) makes a poignant connection between the business engine and the fuel of funding. Without fuel the engine cannot run and without funding an innovation cannot be realized. Whether your idea is meant for a large scale, small scale or entrepreneur level implementation, the identification of a return on investment (ROI) is necessary to add value.

Often the method to identify funding falls on the innovation leader. Gathering a cost analysis and expense forecasting are critical in ...