Everyone knows innovation involves developing unique understanding of a market, thinking expansively to develop a solution, and then finding a way to test rigorously and adapt quickly.

One of the biggest mistakes large companies make is creating innovation teams that mirror all the functions of the core business. Those teams make no progress because they spent forever updating each other on what they are doing versus really crushing the most critical problems they need to address.

Avoiding along some dimensions is easy. Create organization space and bring in some new talent so the innate cultural resistance is less material. Unfortunately, it's rarely that easy.

I use the term "fool's gold white space" to highlight a common problem for innovation. People see a market that doesn't exist, and assume that one should exist.

In the early stages of innovation, your goal is to learn as much as you can as quickly as you can.

Creating the new increasingly is more than 50 percent of a top leader's job.

Bring different groups together internally, send them out to visit other companies, or bring in interesting speeches. Show that you love learning by having people on staff whose job it is to explore without any near-term metrics. Publicly shut a project down and talk about what a great job a team did because they learned so much. And so on.