The art of killing innovation projects.

Starting is easier than stopping.

Many companies heavily invest in innovation to sustain business growth, pouring time, money, and resources into new initiatives, products, and services. What is often overlooked is the art of ending projects that no longer add value. Ending a project is an art form in itself, and critical, honest evaluation of a running project is essential to keep your business relevant and future-proof.

3 reasons why innovations aren't succeeding.

First, missing vision and strategy: a clear, shared innovation vision ensures everyone understands the purpose, objectives, and desired outcomes of a project. Second, resistance to change and fear of failure: progress requires a culture where people feel safe to share new ideas, experiment, make mistakes, and learn from them. Third, lack of resources: innovation needs money, time, and talent, so prioritize innovation in resource allocation, establish cross-functional teams, and provide the necessary tools and training.

Desirability.

Ask how big your potential customer base is and whether customers are willing to pay, and how much. Guessing is not enough; conduct market research, gather customer feedback, and run experiments to validate willingness to pay. If the project lacks a large enough customer base or fails to generate revenue potential, that is a clear sign to consider ending it and reallocating resources to more promising endeavors.

Feasibility.

Look closely at the production infrastructure, supply chain capabilities, and distribution channels required to bring your product or service efficiently to market. Evaluate whether your company possesses the capabilities and resources to produce and deliver a scalable solution. If you encounter significant limitations that cannot be resolved independently or through strategic partnerships, it may be wise to terminate the project.

Viability.

Examine the overall market size and growth potential, and assess whether the market is large enough to generate the desired impact for people, planet, and profit. Analyze potential profit margins and the revenue the project could generate. If the market is too small, the impact insufficient, or financial viability weak, terminate the project and redirect resources where you can achieve more significant and sustainable impact.

Making the call.

Once you have a clear picture of desirability, feasibility, and viability, you can make an informed decision about a project's future. Regular evaluations and a willingness to make tough choices keep your company agile, focused, and positioned for long-term success. Quitting takes courage, but it allows you to reallocate resources, focus on more promising initiatives, and foster a culture of adaptability and continuous improvement.