Free the Idea Monkey

Insight

Enter the Idea Monkey

November 8, 2011

Contributors

Who makes innovation possible? In the past, professional investors would find companies that could benefit from operational expertise and put in their people to streamline everything. The combination of great management and cost cutting meant higher profits. But that strategy only works well if you are hoping to sell the company you acquired as soon as you wring out every bit of excess you can find.monkey hanging

If you want to grow the firm, you need a different strategy. Enter the Idea Monkey. Today, many VCs are actively looking for companies that have unique intellectual property that can be deployed in new, profitable ways. Professional money is now hiring chief marketing officers to invent new possibilities and launch new products and services based on the newly acquired IP. Why? Because they have learned that is the way to make a lot more money. While the cost-cutting savings are a one-time thing, the revenue created by Idea Monkeys can continue for a very long time.

 

How do the Idea Monkeys where you work get management onboard when they have an idea?