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As an entrepreneur, you’ve probably had a good idea or two. Or, perhaps, you have new ideas just about every day.
How many of those ideas actually hit prime time? How many of those ideas actually achieve the goals that you have set for it? Why or why not?
Whether a new product or service, customer experience, marketing method or any number of ideas, the best idea on the shelf is no better than the idea that never happened. How do you avoid this?
1. Have a process. Innovation without a process is really just a list of ideas. While they have the potential to create lasting change, they are still just ideas. Rivier University online offers the following 5 stages of the Innovation process:
2. Follow Through. A lot of times when we (myself included!) start a project, especially when it requires multiple steps to get it done, that project tends to fall by the wayside…or a half-baked project gets launched with a serious need for fixing. Fairly forward, roughly right, right? If your goal is to gain strategic advantage, your innovations need to be well done.
3. Ongoing Feedback. While the feedback loop is part of the innovation process, ongoing input and feedback will help the process along faster. Don’t wait for it…go and get it.
4. Continue to innovate. As mentioned before, Apple and Samsung regularly enter the market with new versions – continuous innovations – of their products.
5. Create a culture of innovation. Everyone in your organization probably has some idea of how to do something better. Promote their thinking! Enable them to try new things and experiment! Your company, your customers and your profits will benefit. When all the ideas come from the top, your company’s knowledge base is severely crippled.
Ideas are a dime a dozen. If you had a nickel for every idea you had…you’d probably be rich, right? If your goal is to build a company that is extraordinary, you’ve got to remember that standing out in the marketplace is a moving target. Every time you do something great, someone else will soon follow. If it is too easy to duplicate what you’ve done, they will follow much more quickly and potentially improve on the idea that your company originally brought to market. Make sure your company’s innovation environment is executing consistently with excellence.
Rick Meekins is the Managing Consultant at Aepiphanni, a Business Consultancy that provides Management Consulting, Implementation and Managed Services to business leaders and entrepreneurs seeking to improve or expand operations. We are the trusted advisor to those seeking forward-thinking operational and strategic solutions to help them plan for and navigate through the challenges of business growth.
If you are ready to discuss how Aepiphanni can help you with business strategy, overcoming challenges to growth or any number of business solutions for your business, whether a small, growing or established company, contact us directly or submit a request for a complimentary Coffee & a Consult to learn how we can help you CREATE | DESIGN | BUILD an Extraordinary company.
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