Business innovation can transform your company from a mere competitor into a market leader; however, you need to see this as a daily process instead of a firm-changing revelation. To make innovation a reality for your organization, you need to set realistic goals and make them happen.
Great business leaders put themselves at the forefront of innovation by setting expectations for those around them and being honest about what it will take to achieve them. They do NOT accept mediocrity within the ranks.
5 Tips To Quickly Innovate Your Business:
1. Take Advantage Of Technology - Studies report that technology is "significantly or profoundly" important in gaining competitive advantage. But only 16% of companies surveyed felt that their companies were taking advantage of technology. Make sure your company is being innovative with your usage of technology - the proper technology will save you and your company time and money.
2. Think Outside The Box - This may seem obvious, but many people can be afraid to bring up an idea due to fear of rejection or simply a lack of opportunity to communicate innovative ideas. Have a company meeting to brainstorm ways to improve your business daily and in the long-run. You may be surprised at what is discovered.
3. Demand Change Within Your Company - Obtain input from everyone at your company in order to pare down ideas from "could do" to "should do." Actively focus on the most important projects that will have the best impact on the company.
4. Communicate Your Expectations Clearly - Set expectations and be honest and up-front about how long it will take and what it will cost. Make sure everyone knows his or her role in the tasks required for successful business innovation.
5. Make Sure Projects Get Completed - A successful leader will garner support from everyone to stick to the project goals as best as possible in order to complete innovation projects and move the company forward.
7 Competencies Great Leaders Have When Innovating Their Business:
1. Adaptability - An innovative leader is open-minded. They demonstrate flexibility when faced with changes at work.
2. Change Management - An innovative leader seeks opportunities to redirect self, others, and the organization to achieve results.
3. Creative Thinking - An innovative leader incorporates existing ideas and new ideas to resolve issues and capitalize on opportunities.
4. Vision - An innovative leader is future-oriented and develops an exciting picture of what could be.
5. External Awareness - An innovative leader sees things from multiple points of view. They keep up to date with issues that affect responsibility.
6. Interpersonal Skills - An innovative leader displays a consistent ability to build solid relationships inside and outside the organization.
7. Decision Making - An innovative leader obtains and understands facts, weighs risks, and objectively prioritizes alternatives.
Summary: Many people don't feel they are creative, so encourage brainstorming to come up with new and exciting ideas that will not be met with judgment. Helping people see opportunities for innovation in both breakthrough leaps and continuous improvement can generate new ways of thinking. Also, allowing everyone to participate in a group meeting regarding innovation will lead to better acceptance of new processes.
"More important than change itself is the speed of change we face today. The amount of time it takes to double our knowledge in many fields has gone from being measured by centuries to being measured in months."
-Anonymous
