The world of business is constantly growing, changing, adapting and modifying. Innovative business leaders understand that constantly hanging on to the past leaves no room for the new future – future that will build your businesses and your life. The future is new and exciting, providing you with the opportunity to work with new people and serve a different consumer for a greater cause. Innovation should be a part of your business foundation as a key success factor. If you don’t evolve and constantly re-create your ideas, your business will die.
Running a thriving business is like swimming in a shark tank where survival is a daily achievement. There are keys to continued existence. Innovation is an integral element. Many business trend analysts confer the notion that innovation can really save a dying company.
Innovative for the People and a Purpose
Innovation should keep a company fresh and progressive while also generating cash flow. If not, shareholders will not be happy. However, the purpose of innovation goes beyond making money. It must be customer-centric. The product of good innovation answers the needs of the customers, and communicates that the CEO is listening and is dedicated to their satisfaction.
Examine the world, your organization and your partnerships, your competitors and your operating environment. Be aware of opportunities, trends and emerging markets. If you don’t see a solution, create one.
Choose to Live
Never switch off, keep your business antennae alert…. And, yes, it does require energy. If you are already thinking you don’t have the energy or the time then that tells me you are one of the blinkered rather than one of the brave. When energy and time are not an issue, it becomes a question of choice. It is choice not chance which determines our destiny.
An Apple a Day
Apple is a great example of how a company strives and succeeds by constantly executing innovative ideas. Some say Steve Jobs turned Apple around purely with innovation. He also possessed the guts and vision to push his ideas forward. The question is can your company be innovative like Apple. The article You Can’t Innovate Like Apple shares:
The vast majority of executives who say, “I want to be just like Apple,” have no idea what it really takes to achieve that level of success. To succeed at innovation as Apple has, you need a leader who prioritizes new product innovation.
Nokia and Samsung are additional notable organizations in advancing innovation. Companies like Yahoo and Microsoft are on the grind to stay in the rat race with their big brothers in business.
Efficiency: Designed to Achieve Survival
The epic conflict between efficiency and innovation as a story told by The Innovation Bound Blog:
The story of a business typically begins with some differentiation, something different about that organization that yields a competitive advantage. Maybe it’s a new method of production, new product, secret recipe, or a new combination of many things. The competitive advantage is born from creative thinking. The business manages to get a foot hold in the market, because of the new value it can offer customers.
The story continues. Positioned for growth, the company begins to change. It leaves behind its dreamer and strives for streamlines, efficiency and scalability. It hires John Sculley, who fires Steve Jobs. And the company grows. It grows massive, captures huge portions of market share. Fat and happy it seeks to maintain its place. It hires lawyers and lobbyists to help prevent trouble from the law, hires marketers to keep the consumers wanting more, and managers to keep the labor in line. And then something happens. Growth slows, perhaps even halts. The company scrabbles to figure out why. Did the consumer change? Did the competition change? What happened?
The truth is that the environment, consumers, and competitors are all changing ever faster. Some companies dwindle here. They layoff employees and sell off divisions in an effort to get lean and mean again. But some lucky firms rediscover creativity. It was always there, the company was born from an idea. Some companies find their dreamer again; they get Steve Jobs back. They take risks again, make mistakes, open their minds and learn from experimentation. And, because these firms know efficiency and creativity, they can innovate like no other. It is imperative that our companies know creativity. Survival is hinged on it.
Innovate or die!