Reach Beyond Imagination
True innovation requires the courage to go outside of the comfort zone, to let go of the standards and habits that drive so much of our activities.
It requires seeing beyond the big picture, to expose the entire picture from several angles. Breaking down any barriers and limitations, enabling identification of any, and all possibilities worth considering.
What is Innovation?
Innovation is one of the most popular buzzwords in the world of business, especially in marketing campaigns. It seems like everywhere we look some brand is claiming to offer or do something innovative. In most cases, an improvement has been made, but not something truly innovative.
Innovation is about creating a better mouse trap. There are currently over 4,400 mousetrap patents, with approximately 400 new patent applications every year. However, disruptive innovation focuses on developing a way of never having to deal with a mouse in the first place. After all who really wants to handle a mousetrap?
Criteria for Innovation
Innovation is a term that often misused, replacing words like invention or improvement. Our innovation consulting practices go beyond improvement, focusing on strategic criteria to truly achieve innovation and generate growth:
- Creating greater value through a purposeful change in products or services
- Make life better by solving problems through developing a new process, product, or service to accomplish goals
- Empowering brands to enter and effectively compete in new markets
- Fulfilling customers’ unmet wants and needs in a way that goes beyond satisfaction to create a sense of joy and delight
The old cliche, “Think Outside the Box” is not the way truely innovative thoughts are developed. This is a misconception because thinking outside the box does place some limitations on the mind, by defining a starting point and creating a belief that the box defines what is good enough.
The innovative mind says “What Box?”
Innovative minds are free of restrictions and limitations. They do not have to start where the box is, enabling them to develop extremely unique ideas, ideas that many would call crazy.
I am fairly certain that people thought the Wright Brothers were crazy when they shared their idea of an airplane. But that did not deter or limit them.
Disruptive innovation is a powerful method for growth. Unfortunately, the core concepts of disruptive innovation are widely misunderstood and frequently misapplied. An Astute Innovation Consultant will eliminate the confusion and help determine if there is truly an opportunity for disruption.
Disruptive innovation is ideally suited for
1. Dissatisfied market segments that are currently overlooked by competitors – The focus is often on the low-end, where margins are slim and profitability is difficult to achieve. We help assess and evaluate opportunities to determine feasibility and develop go-to-market strategies that greatly increase the likelihood of sustainable growth.
2. New-market creation by converting non-consumers into consumers (Think of leasing in the new car market, enables many to drive a new car rather than buy a lower-priced used car)
Considerations to address when implementing a disruptive innovation
- Most disruption is created by a business model, rather than a product
- Disruption is a process that takes time to evolve, it rarely happens overnight
- Disruptive innovations are not always successful
- Disrupters are often overlooked by the big players
- Do not get too comfortable with your existing success