“Innovation distinguishes between a leader and a follower” – Steve Jobs
It’s the beginning of a new calendar year where businesses and consumers alike are enveloped in a gush of optimism. Never a better time to innovate, refresh and/ or create something new.
My goal is to share a very simple guideline about spotting, cultivating and creating innovation.
As I am based in the UK, I will use the UK as the base for my article.
There are three simple ways to create innovation in your company.
- Your customers will help you
It is important that you listen to your customer. Your customers will give you insights into what is needed if you have the right process of engagement. Having the right Customer Experience set up, engaging with a Customer Panel, and conducting regular Customer and User Research will help uncover what is working and what is not.
By aggregating insights into feedback from customers via all social and data sources, it will be easier to create winning user-centric products.
The 4 ways to meet unmet needs below give more insight.
2. Listen to The Market
For those lacking inspiration about innovation, there are multiple sources of information about creating solutions.
If you listen to customers as above or even more importantly the market and the newsrounds, there are regular updates that will show you what is feasible.
Earlier this week, the NHS bosses exclaimed that the NHS has run out of beds. I see a very great opportunity for innovation in the digital health arena. A strong business problem has been thrown into the public domain: No more space for patience looking to come in!
3. Ride The Perfect Storm
Any company looking into innovation or the creation of new products need to be aware of a lot of factors in the market they are located in.
The UK for example is facing a perfect storm called BREXIT.
To most traditional companies, there is an extreme panic about life after Brexit. My view is that there will be so much change in those new products; goods and services will have to emerge.
All in all, creating products that become winners is simple but not easy. That’s why organisations have innovation departments and experts who guide them through the right process of creating the right type of innovation.
I am a Business Growth Strategist and the creator of 5 Pillars of Business Growth. 5 Pillars of Business Growth framework help large companies (my audience) achieve sustainable, infinite business growth and continuous profitability
It will be a pleasure to have an initial conversation about how you can innovate to stay ahead of the pack. Get in touch – [email protected]
