Innovation Not Spots
Turn Your Not Spots Into Innovation Hot Spots:
Banish The Cycle of Non-Innovation.
Could you be caught in this cycle? Has your ROI simply turned into a massive cost? This can be turned around with a carefully constructed break out!
Let me explain. Over a number of years, I have observed that many businesses enter what I call the ‘Cycle of Non-Innovation’.
Businesses for whatever reason, decide that they must innovate. They also decide that the initial spend is an investment and so should produce an appropriate return. So far so good.
The initial state is what I call ‘Market Directed Innovation’. It is a state in which a business feels it must respond to something in the marketplace.
Not wishing to spend too much money, a business will decide, we can do this, it’s not difficult.
For many, this becomes a state of ‘False Confidence’. You think you know what to do and how to do it but don’t.
As time progresses, a business will realise that there is more to this Innovation lark than meets the eye. Maybe you realise that there is a lack of planning, finance or even management.
You are now in a state I call ‘Scramble’ where you are beginning to rush around like the proverbial headless chicken.
You now carry on, perhaps spending even more because you either wish to save face or believe that it is better to move forwards rather than backwards. By now you have not made an investment, but have a significant cost instead.
Your spend has gone up but there is no return on your investment. Enter the ‘Panic’ state.
At this point, your competitors, who were behind you, are now overtaking. You must do something. And the next state? Next, you progress to ‘Market Directed Innovation’.
You are in a cycle which will become ever more costly and ever more dangerous. On the way around, you do have a couple of opportunities to break out but the more you go on, the more costly and more brutal the interventions become.
Help is at hand and there are ways to measure your capability to Innovate and determine exactly where interventions should be made. If you are stuck in the cycle of non-innovation then please do get in touch. Don’t leave it too late.