The way innovation takes place these days is almost comical. The innovation process is like a catchphrase that people bandy about to highlight their own ignorance. The fact is that innovation, like any other process, is difficult, time-consuming, and does not necessarily mean that you will achieve greater business returns.

Sure, it would be nice if every innovative business idea achieved economic returns that were positive. Often, the returns are negative.

In any case, here’s a 5 step process for making your innovation goals successful. It doesn’t mean you’ll achieve positive economic returns, just positive innovative returns.

Use this as a guide, not as a bible:

1. Identify The Issue - If you don’t identify the issue, you can’t identify the problem. Sure, you can work on processes like brainstorming, etc… but you need to know what you’re trying to solve. If your business revolves around launching blogs and you’re discussing E = MC^2, you’re either very smart or very off point.

2. The Timetable - Innovation can’t be an open-ended process. You’ve identified the issue and realized that you now need a solution. Solve it, but on a timetable.

3. Flatten Hierarchy - So you’ve now identified the issue and the timetable by which you need the answer. Flatten the hierarchy. The best ideas may come from the people in the trenches. The ones you never listen to. Listen to them.

4. Research - It’s not enough to brainstorm and come up with a bunch of ideas. Rate the ideas, massage them, move them from here to there. Give them meaning and feeling and see where they lead you in terms of practical usefulness. Above all, scour the marketplace and see how they compare.

5. Act - There’s nothing more worthless than innovation without participation. Act on your findings and move forward with a solution, any solution. Do the A/B hypothesis, test multiple scenarios, and make sure you’ve identified and encapsulated your metrics of success.

Otherwise, you can continue to twiddle your thumbs like the rest of the world. You could always say “I should have.” It may make you feel better.