What is Business Innovation? …and how can I apply Business Innovation education and systems (start-up, small/large company, or non-profit) to what I do.
As you read this, consider the simplest definition possible for innovation, which is doing something new.
Business Innovation is doing something with a new idea or applying the new idea to an existing product you have, a process or service you offer, or even cascading the new thing into your suppliers that you work with.
In some cases, Business Innovation can be a deep look at what you are doing currently and decide to make a smart kill, and stop doing something that truly is not working.
Each time…Innovation has to add value.
Value is the benefit of the Innovation…
…maybe the innovation helps to grow your profits, streamlines a process that takes way to long, gets your suppliers to deliver for you faster, or helps you to get something at a lower cost point but at right quality you need…ultimately innovation has to help you satisfy your customers…
If we refine the definition a little bit, we come up with creative thinking that adds value…
…this would be anywhere in your company or non-profit… and all of it’s operations…
…From Innovation Engineering® it’s what makes your offering meaningful and unique.
On the face of it…sounds pretty simple.
Should be easy, right?
But it’s not always the case. Every firm has some challenges to face…
It requires two elements, first… coming up with the innovation which might be difficult due to silos, internal resistance, and not knowing exactly how.
Second, and the big key is that once you have the Innovation… you must to DO SOMETHING with the Innovation…the best idea left un-actioned is, just an idea.
Depending on the size of the your organization, but more importantly, the mindset for innovation of the owner, leaders within, or your employees, it may be a challenge to accomplish successful Innovation execution.
Every company has some challenges in at least one of a few key areas for Innovation such as methods to come up with some new ideas, communicating benefits, or to figure out how to get the ideas commercialized- moving and making an impact, or collaboratively engaging your suppliers to help you amplify what you do.
If your firm executes well in each of these areas, perhaps the challenge is a little different in that INNOVATION SYSTEMS are needed to further strengthen what you already do so well.
In either case, THE INNOVATION GARAGE provides meaningful and unique value to it’s clients, with education, coaching, execution, delivery, and systems to INNOVATE – ACCELERATE – EXECUTE – AMPLIFY long term growth!