verb: innovate; 3rd person present: innovates; past tense: innovated; past participle: innovated; gerund or present participle: innovating
1.0 make changes in something established, especially by introducing new methods, ideas, or products.”the company’s failure to diversify and innovate competitively”
1.1 introduce (something new, especially a product).”we continue to innovate new products”
the action or process of innovating.
“innovation is crucial to the continuing success of any organization”
synonyms:change, alteration, revolution, upheaval, transformation, metamorphosis, reorganization, restructuring, rearrangement, recasting, remodelling, renovation, restyling, variation; Morenew measures, new methods, new devices, novelty, newness, unconventionality, modernization, modernism;
a break with tradition, a shift of emphasis, a departure, a change of direction;
informala shake up;
“they favoured the traditional approach and resisted innovation”
a new method, idea, product, etc.
THERE YOU HAVE IT INNOVATION DEFINED! (Oxford Dictionary)
JOB DONE END READING AND GO FORTH AND INNOVATE
YOUR SUCCESS AWAITS YOU
Yeah right if only life was that easy
There are many forms of Innovation and indeed it is a buzzword thrown around like its going out of fashion but there are many interpretations of it.
But with No Real defined actionable methods or metrics of measuring it its very confusing
How do you know you are Innovating?
Again there are many taught approaches and methods which are tailored toward the different sectors and industries of the world and again vary from nation to nation
So do you want to hear my cheat especially for the heavily commoditised industries
INNOVATION DOES NOT HAVE TO BE INNOVATING
YOU DO NOT HAVE TO RE-INVENT THE WHEEL
ask yourself from your End User
What is it that I want and how easily can I have it?
Yeah you got it
- the state of being able to proceed with something without difficulty.
“services should be run to suit the convenience of customers, not of staff”
synonyms: benefit, use, good, comfort, ease, enjoyment, satisfaction
MARKET IS KING
The problem is the very Market that is KING is fickle and doesn’t know what it wants until it gets it most of the time, so be prepared to fail and fail, keep failing until you suceed!
Failure is the Sweat of Success
The Holy Grail is to create a consistent and outstanding cross channel experience with your business
Embrace the digital age , use whats at your disposal from using social media to offering other services.
Consumers will embrace businesses who can give them the experience they want, before they know they want it.
BRANDS are Dying
Those that are afloat and dominate spend with hefty pockets to keep in their consumers mind
why do you think that even with the brand power of CocaCola, Apple, McDonalds, Nike etc
Do they still bother to spend millions on advertising, you could argue why bother
Those that build brands have a loyal fanbase but in most cases in numbers that prevent them from real scale
In My Humble Opinion
The era of the DISLoyal consumer is upon us
Brand loyalty is tumbling
The Market values convenience first and foremost
So Keep striving to put yourself in your consumer/users/market shoes and ask how can I make this more …
How can I make make more Money?
Give Value Before You Get Value
Learn to be Selfless to the Selfish Market
Increasing PROFITS will be the Side Effect
Its a long term game, no quick cash in opportunity I’m afraid