Identifying The Innovation Blockade

Innovation is all about turning opportunities into ideas and then forming those ideas into a plan can disrupt the industry or market you’re in. Coming up with an idea isn’t the hard part, coming up with an idea that can challenge the boundaries that most people are working under is and there are a few big obstacles that like to get in the way of making those ideas happen.

1. A lack of focus and an abundance of stress – You can’t really think about what you need to think about when you can’t stop thinking about everything else. That may sound redundant, but it makes perfect sense when you think about it. You need to be calm and collected enough to see the light at the end of the idea tunnel so you know exactly what to do to get there. Otherwise you end up thinking yourself into a labyrinth with no exit.

2. Tunnel vision on one product or service can limit your potential – You really need to look at your business, your industry, and the world from a holistic perspective. If you are only focussed on your new widget you won’t be able to think about how your widget can make a bigger dent in the bigger picture.

3. Assuming that your idea isn’t good enough or isn’t needed is a great way to waste your brilliance – If you ever hear a company say, “We don’t need any more ideas,” you are talking to a company with a dimly lit future that’s fading fast. You really do need to take the time to remove the ideas from your head and figure out what potential they really have. If you aren’t going to dedicate the time and energy it takes to do that, you mine as well stop trying.

Learn how to break down those barriers here.

Is It Time To Change Your Strategy?

You never want to give up before your plan has really had a chance to spring in to action. But, there is such a thing as waiting too long for a strategy that might not pan out. So how do you know when it’s time to switch gears?  There a few very extreme situations that are actually becoming more common, one of which was described and explained in this article from Inc Magazine.

Don’t forget to connect on Facebook and Twitter for more tips, articles and discussion.

Dear Norm,
Our small business provides government agencies and consulting firms with specialized computer models that simulate flooding. Sales have been very slow this year, and one of my partners thinks we should make the software available as a free download to anybody who wants it. That’s what our main competitor does, and a lot of people use its product even though it’s not as good as ours. My partner’s theory is that by getting our software into more hands, we would be able to sell more support subscriptions. My fear is that we would succeed only in losing a lot of revenue at the worst possible moment for our company. It would be one thing if price was the main reason we aren’t selling more software. But, in fact, price plays a small role in a customer’s buying decision. I’d love to hear your thoughts on what we should do.

—Reinaldo G.

Click Here for the expert response.

 

3 Opportunities Your Business Is Missing Part: 1

You may have built the company from the ground up or you may have been there since before it was even close to being the company is today, but I bet there are a few hidden treasures in your company that you didn’t know about. Not hiding in the boiler room or the basement, but right in front of you, in fact you probably greet half of these treasures on a daily basis.  Pay attention and you will catch on quickly.

  1. There are better ways to get everything done. Believe it or not, some of your employees aren’t doing things exactly the way they were trained and this is actually very good for you.  You might have to look around but I would be willing to bet that some of your employees have found ways to do things better and faster than how you taught them to.  The only bad part about this whole situation is that some or most of your employees are wasting time doing things the way they were taught to do them.  Invest the time in learning the new methods from your employees, because no one knows the job better than the people who do it full-time.  Then you should invest the time to train the rest of the team and also let it be known that you are always looking for better ways to get things done.

For more articles, tips and discussion connect with me on Facebook and Twitter.

What do you think are some big opportunities businesses are missing out on?  (Share in the comment box below)

Get Adobe Flash player