Finding or mining diamond rough:
- Develop an approach/approaches.
- Conduct geological research and exploration.
- Acquire mineral/ mining rights.
- Start extracting. 


Sorting and selecting the diamond rough:
- Look for high potential value (size, shape, colour, clarity) relative to the costs and risks. 


Analyzing and marking the diamond rough:
- Considering the shape and crystal structure, an expert will develop a cutting plan that will maximize the value.


Cleaving and/or sawing the rough crystal:
- Take the first step to shaping the diamond rough.


Bruting and polishing the facets:
- Continue to work on the material employing a variety of methods and tools iteratively until it reaches its final finished/polished form.






Presenting and selling the polished diamond:
- Price and display the diamond.

Identifying problems or opportunities:
- Observe one’s environment and trends.
- Identify potential approaches/solutions/innovations.
- Explore and conduct preliminary research on these potential innovations.

Sorting and selecting the innovation project:
- Identify the one/ones that offer high value (revenue, profit, cost savings, growth, survival benefits) while considering their probability of success.

Analyzing and planning the project:
- Prepare a draft plan that identifies the key questions, issues and potential hurdles.
- Conduct preliminary research including seeking expert opinions.

Executing the initial steps and experiments:
- Where feasible, test the key/critical assumptions (prototyping, costing, market and customer research).

Researching and developing detailed plans:
- Develop an extensive business plan that examines and integrates the technical, commercial, financial and operational aspects of the project, identifies the risks and the project plan/initial steps going forward.
- This is an iterative process that continues beyond the initial “sale”.

Presenting and selling the “polished” project:
- Pitch the project to internal senior management and/or external investors for approval and funding support.