BUSINESS INNOVATION: A CATALYST FOR REVENUE GROWTH.

Ever heard of a collapsible shipping container? Neither had I until I discovered Staxxon.

Founded by George Kochanowski and Richard Danderline they have created the world's first foldable, 100% interchangeable shipping container, addressing the costly inefficiencies of shipping empty containers.

Their innovation offers a proven return on investment, it is a perfect illustration of business innovation.

Business innovation

Staxxon's story exemplifies how business innovation can solve seemingly impossible problems. Shipping companies accepted that they would forever ship empty containers. But Staxxon founders had a different idea.

George’s determination to “optimise the movement of nothing” led to the development of this revolutionary solution, which has been hailed for easing supply chain woes and solving the shipping container conundrum.

Key to Sustainable Growth.

Long-term, sustainable business growth is the holy grail for all companies, and innovation is the answer.

But why do some companies find that business innovation delivers results while others don’t?

A common mistake is thinking innovation must be monumental or complex.

Evolutionary innovation—like LED lighting or QR codes—strives to make small but revolutionary changes to existing processes, services, and products.

Innovation can play to your strengths by identifying your strongest business capabilities and understanding the market.

Companies like Apple, known for simplicity, functionality, and cutting-edge technology, exemplify this. They anticipate the market and design products that push the boundaries of innovation and transform how we live and work, growing market share and revenue.

The Transformational Concept

Innovation starts with a transformational concept for example, the Staxxon founders didn’t just wake up one day and decide to invent a foldable container. They sought a better way to handle empty containers, driven by their curiosity and challenge.

“It’s madness to ship empty containers; there must be a better way.”

Their structured focus led to the creation of a game-changing product. Innovative thinking can only begin when companies identify and understand the need for a transformational concept.

Embracing Failure

Not every innovative idea will succeed, but each failure provides valuable lessons. Businesses must nurture a culture where failure is seen as a step towards success, encouraging teams to take calculated risks.

Having delivered revenue growth through business innovation I often started without knowing if it was possible or how we would make it happen. Willingness to try is vital. There were many failings and learnings along the way, which as a team we took on the chin together.

Collaboration and Co-creation with Clients

Successful innovation in business for revenue growth requires collaboration and co-creation within teams and with clients. Engaging customers in the innovation process ensures that the solutions developed are relevant and valuable.

Staxxon worked closely with industry stakeholders to refine its container design, ensuring it met the market’s needs. When we secured a large account with retailer Next, it started with our transformational concept. We worked closely with their team members, from the frontline to the executives. Co-creation with clients is essential.

The Power of Collaboration

Collaboration brings diverse perspectives and expertise, leading to more comprehensive and innovative solutions. It’s essential to encourage cross-functional teams in the ideation process. This enhances innovation capabilities through different perspectives and challenges.

Companies like Apple, Google, Ikea and Marriott create innovation labs and ‘play’ workspaces to nurture a culture of innovation to stay ahead. Their people are encouraged to collaborate and co-create to develop new ideas to ensure the business remains the industry leader.

“To be innovative, we can’t look to what others have done. The whole idea of blazing a path is that there was no path there before.” Simon Sinek.

Conclusion

Business innovation that results in revenue growth is a multifaceted process.

It begins with a deep understanding of client problems and their strategic intentions.

For this process to be successful, you must initiate a structured approach like my V.I.T.A.L. methodology and engage in collaborative efforts with your team and clients.

By embracing these principles, businesses can unlock new revenue opportunities and achieve sustained growth. Staxxon’s journey is a testament to the power of innovation in driving transformative change.

Next Steps

Register for notification of future free live events ?about securing, sustaining, and scaling your business revenue the V.I.T.A.L way.

About the Author

Rebecca Jenkins has extensive leadership and business growth experience. This includes securing, sustaining, and scaling revenue in her previous business and for clients.

Rebecca is a specialist consultant in B2B revenue growth and the author of Winning Big In Sales

Her award-winning V.I.T.A.L. method delivers results for businesses wanting a proven way to profitably increase revenue and secure long-term large client accounts. You can watch and read client case studies here on the RJEN website.