Innovation is the key driver for any business in the new global economy, yet most businesses struggle to find a process that works the way that they need.

1. IS YOUR INNOVATION
PROCESS LETTING YOU
DOWN
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Innovation is the key driver for any business in the new global economy,
yet most businesses struggle to find a process that works the way that
they need.
Most business executives agree that having an innovation process is the
best way to develop the next big thing, while at the same time allowing
their companies to adapt to any changes in the market before they
become problems. Innovations in business help to bring in more
business and develop your organization’s position in your existing
market. Although innovation can literally solve almost any challenge
that a business faces, most businesses just can’t find the right formula
for their innovation process.
While there is no specific innovation process that will work perfectly for
every business there are some key concepts that can be adapted to
your innovation cycle to help give it a boost.
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THINK BIGGER AND BROADER
Often companies tend to restrict the scope of the innovation too early
in the process because they do not have a good testing component to
their innovation process.
Being as broad as possible with the ideas and then looking to
implement them in a variety of ways will help the innovation process to
work more efficiently.
The important thing to keep in mind is to make sure that the testing
process is efficient so that you can test more hypothesises and increase
the potential for a blockbuster. Innovating on the implementation once
you have a good idea for a product or service will also increase the
effectiveness and should be incorporated to maximize every idea that
goes through the innovation process.
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FOCUS ON DEMAND AND FEED THE WINNERS
Instead of just building new products for people to consume, it is
becoming much more beneficial to go to the market or your customers
directly, find out what they need, and then create it for them.
Spending this extra time collecting data and even involving customers
more in the innovation process will increase the efficiency and virtually
guarantee success.
Once you know what the customers want test the innovation and have
the resources available to feed and implement the innovations that
start gaining traction.
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MAKE SURE THAT YOU HAVE A PLAN FOR
IMPLEMENTATION
Once your organization has gone through all of the effort to develop an
innovative idea, make sure that you have a process to implement and
follow-up.
Where most businesses tend to waste most of their resources because
of lack of planning, you can make sure that your innovation doesn’t fail
just when it’s starting to really develop.
Including implementation and follow-up components to your
innovation process will make sure that the ideas that make it past the
testing get fully evaluated and not just forgotten about.
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Use these tips to shore up your innovation
process and make the most out of every idea
that you generate;
you never know what will become a
blockbuster with appropriate nurturing.
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7. GROWING BUSINESS WITH INNOVATION
For additional information about Business Innovation
please visit www.InnovationGrow.com