One of the hardest truths NEW is that today's solution may create problems in the future. That is, no single victory offers the promise of continued achievement.

Whether companies have enjoyed tremendous success or are catching up on initial traction, they face many of the same obstacles to moving forward. The more deeply embedded they are in today's practices and products, the less likely they are to have new benefits.

As the leader of a company comprised of iconic brands such as TiVo, which introduced DVR, and DTS, which successfully landed offering Sounds like the scary dinosaur of Jurassic Park in theaters, I've witnessed the excitement of developing game-changing advancements in entertainment technology, as well as the pressure to drive those businesses into the future. Here's what I've learned about navigating barriers supporting innovation.

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Objectivity is a superpower

Focusing on past success can cause us to cling too tightly to what once worked instead of looking to the future.

There are no shortage of examples of this in business. Get Kodak, which had the means to establish the digital imaging market, but insisted on modeling its digital business after its film business. So when digital photography, and eventually cell phones, completely transformed the market, Kodak filed for bankruptcy—a failure of head stuck in the past.

Progress requires abolishing that narrow control over our achievements and instead striving for objectivity. This means constantly assessing opportunities on the horizon while also monitoring incoming threats. One of the most important assets that leadership can bring to the table? Clear-eyed analysis that can help signal when it's time to pivot.

But it is not always easy to do. My company has reached this crossroads time and time again. For example, we saw extraordinary gROWTH when our revolutionary theater audio system debuted with Jurassic Park. But this technology was based on film. Within a few years of the film's release, it became clear that the future was digital. So we sold half the business – the same technology that had catapulted us to fame. It was an emotionally draining decision. It was also the right one, allowing us to reposition ourselves for the digital world.

However, it is important to note that this kind of radical objectivity can only occur within a company culture that welcomes constructive criticism and tRANSPARENCY – one where leaders, managers and teams challenge each other to overcome success bias.

Company culture should focus on adding value

Another obstacle to innovation? Failing to bring your people along for the ride.

IN a global survey, 75% of respondents reported that they were not given input into developing a shared vision for their work. A similar percentage said their work did not give them purpose.

A Culture Without Purpose – “why” – is a recipe for stagnation. Cultivating progress requires a clear expectation that employees will engage and seek to add continuous value. At the same time, it requires a company to motivate employees to increase their skills and contributions – by promoting thinking outside the box, promoting personal and professional development and providing opportunities for career advancement.

However, employees need more than purpose; they need to believe that their contribution is valued.

I've found that our team tends to be more accepting of moving forward when they're given some context and options for how it's going to happen. We start adopting change with a clear plan for who, what and when, and also thinking about the effects on all components. Sometimes, we start with a pilot or survey to gather important information about the changes. This effort prepares the waters by allowing for the employee feedback and buy-in required for larger shifts ahead.

I saw this first hand with one great union we did it in 2020. We developed a clear strategy to combine and then separate the two parts of our business in a certain time frame. We explained it up front with lots of context, found our change champions, and then spent the next two years executing and adapting to successfully deliver strategic plan.

Interestingly, a transformative opportunity like a merger offers impactful ways to evolve and innovate culture as well. I encourage executives to integrate as soon as possible to ensure not only the success of the transaction, but also to challenge and restore cultural norms. Reinforcing the best cultural aspects of both companies provides a refresher.

Data is essential – but it doesn't get the last word

Data equals power. Except when there isn't.

JCPenney made this costly mistake. The company used data suggesting customers wanted lower prices to justify the move from promotional prices to everyday low prices. The attempt failed; they did not count on their customers to be motivated not only by low prices, but also by the promotions themselves.

I greatly appreciate the input. And sometimes, it can explain a discrete issue. However, when dealing with a nuanced problem, interpretation and contextualization are as important as the numbers themselves.

To us, this looks like the constant weighing of new data against longer technology arcs, like the concept that processing power increases over time and costs decrease. We also figure in our decades of victories and missteps.

Sometimes, this bundle of information leads us to critical insights. Years ago, when consumers started using headphones, the technology didn't yet exist to pack high-quality spatial sound into them. At the time, data showed that people wanted convenience over quality, so the industry produced headphones to meet this demand.

We interpreted the data differently, anticipating that, eventually, our research combined with those technological arcs would allow us to provide a high-quality headphone experience and that consumers would demand quality again. Fast forward to today: our headphones are now prominent technology used for advanced games.

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Partnerships can unlock unprecedented potential

A laser focus on internal innovation can hinder another important path forward: COOPERATION.

Most innovations are not born from scratch, but from tweaking an existing product to create a surprising new feature. For us, progress often means building partnerships in neighboring industries. The key? Both parties should benefit from entering each other's markets and technologies to deliver something that all their customers want.

These powerful relationships have resulted in countless innovations. For example, a partnership with BMW has moved our immersive entertainment technology from the living room to the vehicle. This collaboration opened up a new vertical for us allowing BMW to meet the demands of drivers who increasingly use their cars as a third space for relaxation.

Sustaining innovation is never a small matter. It takes tremendous and sustained effort to run a large organization made up of many moving parts. On the other hand, newer companies may lack the capital and sophisticated data required to shift gears or have founders who are too attached to visions or early wins. Regardless, embracing objectivity, fostering a culture of continuous value growth, and looking to contextualized data and external parties for feedback can position a business to avoid the one-hit-wonder trap and, instead, enjoy the excitement of many more innovations to come.