Any technological endeavour will operate under a series of constraints. These constraints come in many forms, and understanding the existing, nature and extent of those constraints is one of the primary roles of technology leadership within an organisation. As we shall see, a deep understanding of your own constraints can also be a catalyst for the fundamental innovation that separates great organisations from merely good ones.
Constraints come in many forms. Starting with the most fundamental:
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Time - a physical property of not just capitalism but the fabric of reality. This is a finite resource that drips away day by day, and must always be treated as precious.
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Money - not always equal to #1, but ever a key variable in the operation of any commercial or publicly-funded enterprise. It is constrained - but under the right conditions it is possible to get more.
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Technology - the current state of technology puts limits on what is and is not possible for us to deliver today. Given constraints #1 and #2, we must choose wisely when it comes to R&D.
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Competition - if our goal is to succeed in a competitive environment, it is vitally important we know who and what we are up against.
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Regulations - governance of the environment in which we operate. These guide what we can and should do, where and when we can do it, and how and with whose permission.
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Transience - whatever the constraints under which we operate today, our one certainty is that change is inevitable. Ignore this constraint at your peril.
Let's explore how we should think about each of these in turn.
Time: Build, buy or bust?
When seeking to innovate, the speed (and momentum) at which we move will be determined by many factors. As time is a constrained resource, we must be constantly vigilant for ways to accelerate our time to market. Much of technology leadership can be boiled down to choosing when to build a new capability, when to buy off the shelf, and when to steer clear.
In my belief, most businesses fail because they forget this fundamental law of nature. Do not make this mistake - value your time and spend it wisely, in everything that you do.
Money: Make do and mend?
Research and development is the means by which companies accrue fundamental value, but also one of the primary means by which they expend capital. In a constrained economic situation, technology leaders should focus on becoming adept at maximising value while minimising expenditure. The lifespan of a startup is measured in current cash divided by burn rate - never forget this constraint.
Technology: What already exists?
Technology provides both the foundation and the limitation for whatever innovation you seek to undertake. If you want to invent the steam train, good luck doing that without the wheel! As all Civilisation players know, technology is a tree in which each innovation builds upon that which comes before. Therefore, if you are looking to innovate, make sure you have a comprehensive understanding of what the current state of the art is, so that you understand what can be used as the foundation upon which to build your new offering.
And of course, to make sure that the thing you're innovating has not already been done somewhere else without you knowing it. Speaking of which...
Competition: Us vs. them?
Most first-time founders make the mistake of assuming that competition is a bad thing. They fiercely guard their ideas, hide in the shadows, and curse if they see a competitor out in the world doing something similar to what they had envisioned their own success to be.
Experienced entrepreneurs understand that, when innovating in a novel space, competition is not only healthy for driving your own business forward, it can bring both investment and customers to you. It shows that the space is worthy of other people investing time, money and the rest into entering it, and that can be great at convincing investors of the value of your problem/solution. And it will light a fire under your team to make sure that everyone can benefit from the value of your innovation.
Regulation: Shifting sands or immovable mountains?
The rules of the game by which all competitors have to play. Having a very clear understanding of what is and is not allowed is clearly critical - as is understanding the degree of risk taken in entering grey areas that are unregulated. These can be more common than your might think, particularly for innovative technological solutions.
Remember - some rules can be bent, and others are made to be broken. Change can happen quicker than you think.
Transience: How to live in the future?
In fact, change is inevitable. As a startup or an innovative team within a larger organisation, you will spend time and money on building technology that can pull ahead of your competitors while adhering to the rules and regulations. And you might even succeed.
But even if you do - it will not last. Change will happen. And you will have to adapt or die.
Speak to any creative person, and they will tell you that constraints are the heart of creativity. An infinite canvas is impossible to turn into a work of art. A symphony of every instrument that lasts forever could never be written. The constraints of the world take ideas and pull them into reality.
By understanding and embracing constraints, you can position yourself at significant strategic advantage over dreamers and idealists who fail to understand the rules of the game they're playing.
And ultimately, you make possible your ability to change the world - and that was why you were doing this in the first place, right?