Innovation Resourcing for Success
Martin Hoffmitz
Select Business Development/Innovation and Sales Help With Investments in Specific Companies Needing Capital and Help with Growth Strategies and Implementation
I often talk to corporate leaders at all levels about Innovation - Everyone likes to talk, but execution takes a few additional steps - Nick makes a nice point here:
Nick Skillicorn
What is your definition of “innovation”: Turning an idea into a solution that adds value from a customer’s perspective
What mistake do companies often make when they talk about it?: They talk about it being a company value without actually putting the required level of support behind it to make it happen. Coming up with ideas is relatively easy, fast and cheap, but then those ideas need to be executed. This is where companies often fail, by not providing the required level of time and budget to take a rough idea, refine it, experiment on it and finally turn it into a real solution. Additionally, companies usually think of it just from an internal viewpoint, such as whether they think the offering is being improved when it is updated. In reality, if the customer doesn’t perceive the changes as having value, then they won’t be compelled to purchase it. So it is all about the customer’s perceived value.
What simple thing can a company do to change their conversation / perspective about it?: Flip it on its head, and look at every new thing you are trying for various customers’ perspectives.
Nick is the chief editor of Idea to Value and also the CEO & Founder of Improvides Innovation Consulting. He was voted one of the world’s top innovation bloggers for 2014 and is a leader in thought leadership on the science of improving creativity. Follow his two twitter accounts here: