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How do you learn from other industries?

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Learning from other industries can be a powerful way to boost your business innovation. By exploring how different sectors solve problems, create value, and deliver results, you can gain new insights, perspectives, and ideas for your own industry. But how do you learn from other industries effectively? Here are some tips to help you.

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Jeffrey Tjendra

helps ambitious leaders drive AI transformation
Jef Menguin

International Speaker, Strategic Learning Consultant, and Author | Founder at SLC Inc. | Develop Leaders Who 10x Growth…
Maria Jose Perea Marquez

Tech-savvy leader helping people understand technology | Driving Innovation & Growth | Notion Ambassador | Expert in…

1 Identify your goals

Before you dive into researching other industries, you need to have a clear idea of what you want to learn and why. What are the challenges or opportunities that you are facing in your industry? What are the gaps or needs that you want to address? What are the innovation metrics and indicators that you want to improve? By defining your goals, you can narrow down your focus and select the most relevant industries to learn from.

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Jeffrey Tjendra

helps ambitious leaders drive AI transformation
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The goal of learning from other industries is mainly to cross-pollinate what works really well for them into your industry. This could be their services, processes, policies, pricing, GTM.

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2 Look for analogies

One of the easiest ways to learn from other industries is to look for analogies or similarities between them and your own. For example, if you are in the hospitality industry, you can learn from the airline industry how to optimize your pricing, loyalty, and customer service. Or if you are in the education industry, you can learn from the gaming industry how to design engaging and interactive learning experiences. By looking for analogies, you can find common patterns, principles, and practices that can be adapted to your industry.

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Maria Jose Perea Marquez

Tech-savvy leader helping people understand technology | Driving Innovation & Growth | Notion Ambassador | Expert in Cloud, AI & IoT | Making Businesses Future Ready
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Beside implemented inventions, innovations can also be the result of a combination of already well functioning approaches to different problems with a slight modification. Indeed the know how transfer of another industry is a good starting point. In order to learn about approaches regarding innovation management and product development, there are different ways: - visiting and networking on related industry events to foster interdisciplinary exchange - reverse innovation / engineering - co-creation with customers from the target industry

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3 Seek inspiration

Another way to learn from other industries is to seek inspiration or novelty from them. This means looking for industries that are very different from your own, but that have something unique or innovative to offer. For example, if you are in the health care industry, you can learn from the fashion industry how to create personalized and customized products and services. Or if you are in the manufacturing industry, you can learn from the art industry how to foster creativity and experimentation. By seeking inspiration, you can discover new possibilities, perspectives, and ideas that can challenge your assumptions and spark your innovation.

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Jef Menguin

International Speaker, Strategic Learning Consultant, and Author | Founder at SLC Inc. | Develop Leaders Who 10x Growth Faster!
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Being an advisor for leaders has taken me to many different kinds of jobs and places. Each job has its own way of doing things. When I share ideas from one job to another, people often say, "Wow! That's a new idea!" But honestly, I'm just sharing what one group knows with another group that doesn't. For example, a toy company might have a special way of checking if their toys are safe. A food company could use a similar idea to check if their food is good to eat. It's not a new idea, but it's new for the food company! So, it's not always about coming up with something brand new. Sometimes, it's just about using an old idea in a new place. And when we share what we know from different places, we can come up with great solutions.

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4 Connect with experts

A third way to learn from other industries is to connect with experts or practitioners from them. This means reaching out to people who have deep knowledge, experience, or skills in their respective fields, and asking them questions, seeking advice, or exchanging feedback. For example, if you are in the retail industry, you can connect with experts from the logistics industry to learn how to optimize your supply chain, inventory, and distribution. Or if you are in the media industry, you can connect with experts from the data science industry to learn how to analyze, visualize, and communicate your data. By connecting with experts, you can gain valuable insights, tips, and guidance that can help you improve your innovation.

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Jeffrey Tjendra

helps ambitious leaders drive AI transformation
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Connect with 2 kinds of experts: 1. Vertical experts who know about the industry well. 2. Horizontal experts who know how about certain capabilities well + vertical experience.

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5 Experiment and iterate

The final way to learn from other industries is to experiment and iterate. This means applying what you have learned from other industries to your own industry, and testing, evaluating, and refining your solutions. For example, if you are in the banking industry, you can experiment with applying the principles of gamification from the entertainment industry to your products and services, and measure the impact on your customer engagement, retention, and satisfaction. Or if you are in the agriculture industry, you can experiment with applying the techniques of biotechnology from the science industry to your crops and livestock, and measure the impact on your productivity, quality, and sustainability. By experimenting and iterating, you can learn from your failures, successes, and feedback, and continuously improve your innovation.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you learn from other industries?

1

2

3

4

5

6

1 Identify your goals

2 Look for analogies

3 Seek inspiration

4 Connect with experts

5 Experiment and iterate

6 Here’s what else to consider

Business Innovation

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How do you learn from other industries?

1

2

3

4

5

6

1 Identify your goals

2 Look for analogies

3 Seek inspiration

4 Connect with experts

5 Experiment and iterate

6 Here’s what else to consider

Business Innovation

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