Stand up take my people with me I go to
Architectural innovation destroys the usefulness of a firm’s architectural knowledge but preserves the usefulness of its knowledge about the product’s components. A component is defined
When I think of innovation I think of improvements in price size products service,ideas ,cost saving equipment.
Innovation requires a little thinking .
Any product and service that is built to enhance a product or service is innovation.
Innovators make mistakes not every project is a home run.
The reward of researching and developing far outweighs the losses that occur.
The gains that you make researching and developing are second to none.
Just look At Amazon.
Fortunately enough the market Is here to answer and it leaves clues .
Sounds too good to be true but that is apart of the process
Build measure and learn, that is what innovators do.
If you take a look at the businesses that are failing it only comes down to a few things .
- Not innovative
- Out of control spending
- Not in intune with customers
- Obsolete services products
- Bad management
- Lack of communication with team
- Low Team moral
- Not willing to give value
- Not producing and or distributing content
- Feeding pockets not the business
- Micro managing
- Not entrusting employees
- Rigid and regimental
I understand because it was hard for me to break out of some bad practices but I knew it was necessary for me to grow.
My outlook and approach towards things are not the same.
I had to change my approach in order to grow.
Innovation drives business growth.
Hence why innovative businesses live longer and grow faster.
Innovation can increase your sales volume however you have to control cost in order to maximize profits .
Neverthless it is hard breaking out of bad habits but is necessary to survive .
Too many of us are rigid .
In these times we have to start thinking creative.
We should be testing new formats even when things are going right .
Innovative minds are proactive minds
Innovators don’t sit around waiting for change they actually go out and initiate change .
Innovators lead the markets and control majority of the market share .
That is how business goes.The first person to the market has the advantage but ofcourse other things come into play .
Think of innovation as enhancement in service a person or product design or making things at a lower cost selling at a higher profit and beating the competition price wise .
Start getting more proactive instead of waiting until problems arise .
Some establishments refuse to make adjustments even when evidence is suggesting otherwise .
Not only is it lazy but it shows you are out of touch and lack interest.
When you start losing interest that is when you need to walk away and let someone with the foresight to take over .
You can’t starve your business and expect to get a return from something you never invested in .
What you put in is what you get out .
Amazon , Apple , Facebook wouldn’t be a big as they are today if they wasn’t innovative.
They control the market share in their niches.
Amazon keeps expanding and solidifying it’s spot .
Study Apple And Amazons business formats.
Apple is always enhancing its products or designing newer ones .
Now look at This list of 3 innovations
- Dirsruptive
- Architectural
- Incremental
A few years ago I wasn’t keen about innovation until I found out about Apple and Amazon being the leaders in innovation and technology.
On to my next point .
Any business that holds on to old business models is bound to go out of business or have to restructure .
Rather than sit back and waite until that happens why not be proactive.
In order For your firm to grow you are going to have to be flexible .
Amazon invest profits back into research and development in it’s early stages and still does today.
Look at how much of the market share they control.
The average business isn’t willing to take on losses like Amazon did in the early stages investing all their profits back into the business.
Most people can’t see past now so instead of feeding their businesses they are feeding their pockets .
This is what you need to understand about technology
- Techniques
- Products
- Services
All Become obsolete at some point in time .This is more of a reason why you should invest back into research and development .
Do your research and development get feed back from the market .
Facebook wasn’t created out of thin air it was created out of a necessity to improve communication.
For some reason We keep thinking we need to do something magical in order to produce something worthwhile.
Look at what needs aren’t being met before you embark on your product journey .
Remember Success leaves clues .
The people have some of the answers because they are the ones making the buying decisions.
The people decide how long an item is going to be trending .
In other words people create trends.
Just Make sure you incorporate them in the process .
The problem I see with brands is that they think they have the solutions without getting confirmation .
Let me explain to you in more detail about innovation.
Innovation does not always mean something new ,it could be a simple product and service enhance ment .
This is why you have to rain your mind to do things unconventionally.
When you think of growth don’t think about numbers think about innovation.
Get into the habit of visualizing things before it happens .
I know a marketer that is very innovative .he always comes up with new methods to get leads or make sales.
He is the macgiver of social media marketing .
A Stand up guy .His name is Keder Cormier .
The thing about his methods is that they are fun to learn.
He is a very fun marketer to associate with .
You can’t be afraid of making mistakes and expect to get longevity in this game .
Amazon made a lot of mistakes along the way but look at how much market share they control .
Not every project is going to be successful but some will .
If you keep investing in research development you will experience your breakthrough.
Inmovation Is the only way to measure the failure and success of new products and services.
Even as individuals we have to be innovative and creative.
Train your mind to visualize things.
You don’t have to be a genuis to come up come with new concepts.
Conclusions
To grow you have to be innovative and creative and willing to make mistakes.
What tips and tricks do you have for innovators ?