The tech world is evolving at breakneck speed. What was once cutting-edge is now outdated, presenting a simple but formidable choice for those in the tech industry: innovate or become obsolete.
Understanding the Role of Labs Teams
This brings us to the concept of Labs teams, a dynamic driver of change. Regardless of an organization's size or industry, Labs teams function as agile, multi-functional squads focused on rapid experimentation and pushing boundaries to solve problems.
Recently, I had the pleasure of engaging in a LinkedIn Live discussion with Apoorva Dornadula, co-founder of Viralspace.ai (acquired by Smartly.io) and Senior Engineering Manager of Smartly.io’s AI Product Lab. During the event, we discussed how we each have driven continuous innovation at our respective organizations through the creation of a dedicated Labs division.
G2 Labs’ Approach to Innovation
Now that we’ve set the stage, let's zoom in on G2 Labs. In our context, G2 Labs is more than just an innovation incubator; it's G2’s embodiment of adaptability and constant improvement. Our small, two-pizza team, including a product manager, 2 developers, a designer and a marketer moves swiftly to create, experiment, and test new products.
The lessons we've learned and the values we've embraced at G2 Labs extend beyond the tech sector, offering universal insights – the importance of adaptability, thorough research, and the invaluable role of customer feedback in shaping successful innovations.
Products Successfully Built by G2 Labs
Delving into tangible outcomes, G2 Labs has introduced innovative products, enhancing the experience for software buyers and users. Recent creations include:
- AI Monty: G2’s collection of chatbots designed to provide personalized software recommendations, educate users, and offer support to our customers.
- G2 Deals: A dynamic marketplace empowering software buyers to discover discounts on popular tools.
- Team Buying: A centralized tool facilitating collaboration for teams building software shortlists, evaluating capabilities, and finding the best-fit software.
These initiatives show G2 Labs as more than an incubator—it's a hub delivering tangible value to our customers through cutting-edge products.
Would Your Organization Benefit from a Labs Team?
As founders and engineers, Apoorva and I may be biased in our recommendation for a Labs team in any organization that can support it. However, as we acknowledged in our discussion, there are distinct signs that signal the necessity of a nimble innovation division. When should you consider a Labs team? A few things to consider:
- Is your organization at the right stage for a Labs team? In the early stages, your entire product team innovates. Yet, post-product-market fit, as you scale, your core teams focus on incremental improvements. A Labs team can step in to quickly drive the development of entirely new products, creating fresh revenue streams.
- Is there disruptive technology that may impact your long term strategy or rapidly changing competition? When disruptive tech or rapid competition shifts threaten an organization, a Labs team becomes essential. A Labs team’s role is to anticipate and navigate these changes, ensuring your long-term strategy remains resilient.
- Would your organization benefit from running quick proof of concepts to decide if further development should be completed? Short, iterative cycles are essential for exploring high-risk, high-reward ventures, a Labs team runs quick proof of concepts. This controlled experimentation assesses groundbreaking ideas before committing to full-scale development.
In essence, a Labs team is your strategic bridge, ensuring adaptability and innovation coexist with existing product maintenance.
The Value of Experimentation & Adaptability for Sustained Innovation
Labs from both G2 and Smartly.io showcase the transformative power of innovation, allowing the company to have a division dedicated to experimentation and iterating quickly. At G2, maintaining our startup spirit as we've grown in the tech industry has spurred lessons and honed values that transcend tech — offering universal insights into innovation.
Whether establishing your own Labs team or not, the core message stands: Adaptability is key to thriving in an ever-changing market. At G2, we're committed to pushing boundaries and creating new solutions that matter.
For more insights on driving innovation, be sure to check out my recent LinkedIn Live discussion with Apoorva Dornadula. Let’s continue the conversation there.
