innovation
Innovation is about people using new knowledge and understanding to experiment with new possibilities to implement new concepts that create new value.
It's about turning a creative idea into something useful. But how do you do it?
Try this Innovation Tool if you score less than 2 - your project is in trouble! Click << HERE >> to download.
1 - Know exactly who will buy your product or service, under what circumstances and at what cost.
2 - Make sure the product or service is high on the list of priorities for your customer and they need it urgently.
3 - Your product or service should at least save time, save money or be the easiest to use.
4 - Produce evidence of these benefits so you can demonstrate them easily to the customer.
5 - Build a team with one vision and one goal, where there is trust and everyone is motivated to succeed.
6 - Make sure everyone in the team has a clear understanding of the aims and objectives of the project, as well as awareness of their own roles and responsibilities in achieving them.
7 - Understand the geographics, demographics, psychographics and behaviours of your target market.
8 - Know exactly how much your customer will profit or otherwise gain from using your products or services.
9 - Make sure your project team has inexorable energy, strong self-belief, confidence, integrity, self direction, initiative, commitment, drive and determination.
10 - And make sure the team takes 100% responsibility for getting done what needs to get done, no matter where in the organisation they have to go.
Critical success factors: some of the comments from innovation managers:
“I would take the right people first, that’s my number one. I would take an ability to understand the markets as number two. And I would take the resources to do the job as number three.
Because I believe that with the right people, you generate the ideas and the leadership and form a strategy – The team can put a structure together, and with the resources they can implementat properly”.
Overall, successful new products had considerably more time, money, and energy devoted to market-oriented activities than did failures.
Innovation requires time - time to think, to experiment, time to talk about possibilities and ideas. People need to share their vision through curiosity, talent and motivation.
Leaders need the wisdom to manage & evaluate ideas, recognising and rewarding those involved.
Download your personal Innovation Gap Analysis It demonstartes the skills and behaviour you need to be more innovative.
For more about the theory, and original research, click here: - A Study of Innovation, Ananatomy of the key success factors
Stay Connected