We work in an inherently creative and ideas driven industry, but it's not ideas that propel adland forward, rather it's the execution of those ideas according to Isobar's regional mobile and innovation director, Erik Hallander.
Speaking to AdNews, Hallander said he believes the industry has an unhealthy admiration for ideas and that it's not ideas on their own that have value.
“An idea by itself has no intrinsic value – there's no marketplace for ideas, there's no place anywhere where you can sell an idea, it doesn’t really mean much,” he said.
Hallander explained that if you're building your business solely around ideas it won't work, there need to be a counter balance between generating ideas and actually ensuring their execution, otherwise you won't have a viable business model.
“The problem is as an industry that component is missing. A lot of people underestimate the value of good execution, it's all around being able to 'de-risk' something and prove out the smallest component of an idea.
“It's around governance, it's around funding models, approval structures, all those things actually come into play when you have an idea and you want to make it. Ideas on their own aren’t worth much,” he added.
When it comes to businesses that are seemingly great at coming up with ideas, Hallander cites Google as an example, but says rather than being able to solely come up with great ideas, what businesses like Google can do is at execute great ideas and then roll them out on a larger scale.
Hallander is speaking at Isobar's Summit Series, which is being held in Melbourne, Canberra and Sydney next month, with the summit focusing on talking a 'no bullshit' approach to what's affecting the industry and how the agency network operates.
As part of his talk, Hallander will also look into the trend of big business attempting to tap into the startup trend.
Hallander explained that in order for big businesses to act more like startups they need to play with different business models. This includes giving staff equity in projects and rewarding them for successes.
“Usually what they [businesses] say is lets do things quickly without being obstructed by processes – what they don't mean is let's work 19 hour days and have equity – the reality of a startup.”
AdNews has six tickets to give away to Isobar's Summit Series, a double-pass in each location. In order to win, tell us in 25 words or less where you think the industry is headed over the next 15 years. Send your answers through to competition@adnews.com.au. Competition closes on 3 August.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.