If you’re not that Innovative . . .

. . . that’s okay.
There are other Factors more important then the Myths about Innovation!!!

from INC Magazine 9/13 enhanced by Peter/CXO Wiz4biz

Myth #1. Innovation is Disruptive !!! (not always)
Big break-thru’s may be a harder change to acceptance by an organizaton. Smaller changes are easier to adjust to, adopt, and make the path to success easier.

Myth #2. You can have “too many” Ideas,
If you don’t know what to do with them. Share them with potential Customers and see what they think. Go with the 1 or more, that has the best combo of highest acceptance & good payoff.

Myth #3. It pays to be 1st to Market (not always)
You may have to educate the Customer on what you can do for them, then sell these benefits – to convince them they need it. Sometimes, it’s better to be a smart follower. Let the other have the heavy expenses from cracking open the market. Don’t do a “me-too” product. Figure out how you can be “Better, Faster and/or Cheaper” & they’ll flock to you.

Myth #4. Innovation is about things. (ie, new or improved Products & Services)
Actually, you can get more ROI [Return on Investment / Profit] out of improving your Business Model, internal Processes and/or your Customer’s experience.

Myth #5. You must be Innovative “constantly” (in some industries)
It’s often more important to get the current product & operations flowing smoothly, before starting on launching a new product.

Myth #6. Innovation is Costly (not always)
Some products have been developed on a shoe-string Budget. The less $$ available, the more creative the teams gets and amazes everyone. So challenge the Team to do it !!!

Myth #7. If you have a good Product, that’s all that matters.
No! Customers buy products from people they enjoy doing business with, that serve them well. The products with the highest Customer Satisfaction grew 2x as fast as the ones with the lowest Customer Satisfaction.

Comments: Do you have any on Innovation?