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innovation

Move Your Company Forward Through Innovation

The ‘power of innovation’ is a phrase that sounds like a corporate tactic or slogan, a secret talent worthy of only the rich and powerful. Actually, the power of innovation is an innate quality that we all possess. If you tend to marvel at the creativity of others, you may be surprised that you can create and innovate too. Everyone is born with creativity.

Innovation is the foundation of new beginnings. Through innovation we can find new products, learn new techniques, offer better quality and a more simplistic style and even help to bring the dollar out a little farther. But, what many business owners do not realize is that you can use innovation to help move your business to the next level, one that is better for the customer and better for you.

In a fast-moving world where people expect things to get better and better, and cheaper and cheaper, innovation is your route to getting ahead of your competition. Here are 7 ways to put new life blood into your organization through innovation.

Create A Climate For Innovation. Goran Ekvall of Lund University in Sweden has defined three conditions needed for a climate of innovation. They are: trust, dynamism, and humor. One of Ekvall’s case studies was a Swedish newspaper where the team working on the women’s section consistently outperformed all the other teams. The reason? Quite simply, this group trusted one another, had a high level of energy and shared a common sense of humor.

Seek An Insight Most flashes of inspiration come to people when they are away from work and not forcing their conscious brains to find solutions to their problems. For some, ideas come while mowing the lawn or taking the dog for a walk or playing golf or waiting on a railway station. For Isaac Newton, it was an apple on the head while sitting in the garden. For Archimedes, it was in the bath. For others it’s while doing the dishes; that’s why these flashes of insight is called “washing-up creativity”.

Make New Connections. Making new connections between existing features of your product or service is a popular way to innovate. Akio Morita, chairman of Sony, said that he invented the Walkman because he wanted to listen to music while walking between shots on his golf course. His team simply put together two seemingly incompatible products: a tape recorder and a transistor radio.

Know Your Customers’ Needs. Necessity is a great spur to innovation. Take, for example, writing paper. The Chinese had already made paper from rags around the year 100 BC but because there was no need for it, nothing came of it. When it did reach Europe in the Middle Ages when writing was all the rage, the supply of rags and worn-out fabric soon dried up. That’s when a French naturalist made the discovery that wasps made their nests by chewing wood into a mash that dried in thin layers. Within 100 years, all paper was made using the idea of wood pulp.

Test, Test, Test. Product testing is the way most inventors and organizations go about innovation. It may not be the quickest route to success, but it is often the surest. Jonas Salk, for example, discovered the polio vaccine by spending most of his time testing and testing and continually finding out what didn’t work. Thomas Edison, the inventor of the filament light bulb, recorded 1300 experiments that were complete failures. But he was able to keep going because, as he said, he knew 1300 ways that it wasn’t going to work.

Adopt and Adapt. One relatively easy approach to innovation is to notice how others deal with problems and then adapt their solutions to your own. It’s known as “adapt and adopt”. It’s what watchmakers Swatch did when they realized that the more reliable their watches became, the less people needed to replace them. Their solution? Borrow an idea from the world of fashion and collections by turning their watches into desirable fashion accessories. Now people buy Swatch watches not just to tell the time but because it’s cool to do so.

Take Lessons From Nature. If you really want to be inventive, you can’t beat nature. The world of nature gives us an endless supply of prototypes to use in our own world.

Think it is too difficult to manage on your own? Consider hiring a product development company to help you complete the process. Or, simply hire on a group of creative people to manage innovation on your own. You would be amazed at the quality that can be improved as well as the efficiency of even the simplest of tasks when you call on innovation in some form.

It is challenging to get started. Innovation research will be needed, brainstorming will have to be done and ideas will have to be brought to the forefront. But, there are enormous resources available to everyone in every type of business out there. Books, websites, organizations and many more avenues are available to you. The bottom line even looks better when you use innovation that is targeted and accurate. Even though you are spending time, resources, and money on finding the answers, learning how to make it better for you will help you increase your business’s profit margin. Innovation changes every single day. Do you know what it can do for you, yet?

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