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Posts Tagged ‘Innovation’

3 Ideas to Spur Your Innovation Agenda for Next Year

November 30, 2011 Comments off

InnovationWhat’s your innovation agenda, budget or time allowance?  We’re about to change calendar years and for most business leaders, we’re fine tuning our forecasts and budgets for next year.  It’s all so…Financial.  No matter how sophisticated your business is, you need to think about ensuring you have an innovation agenda – it makes a difference in your income as the following article from Europe points out: Highly Innovative Low-Tech Companies? This well researched piece states income even in low-tech companies is higher for companies who invest in innovation.  So, here’s three ideas to get you started:

1. Look over your budget/goals for next year, can you itemize/list those dedicated to innovation?

2. Can you identify who is accountable for advancing your innovations?

3. Is it measurable with time deadlines?

Here’s to innovating and succeding this year!

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Innovation Execution – Make it Happen

October 26, 2011 Comments off
Mount Rainier over Tacoma, Washington, USA.

Image via Wikipedia

There seem to be hundreds of good ideas out there.  Actually, I hear a lot of them from aspiring innovators – many really good and some that could change the world.  What differentiates ideas from reality is execution.  Who can do it?  How can they do it? and Will it succeed?  I spend a lot of time with businesses and entrepreneurs building those plans to validate a credible idea and turn it into a revenue generating business.

A recently published book: The Other Side of Innovation: Solving the Execution Challenge speaks to this.  Below is a quote from author’s Vijay Govindarajan’s blog summarizing his findings:

“In fact, we point out, organizations today are only modestly more prepared for the challenges of innovation than they were fifty years ago. While most companies have plenty of creativity and plenty of technology, they lack the managerial skills to convert ideas into reality.

We liken innovation to an ascent of Mount Rainier. Most climbers focus their energy and enthusiasm on attaining the summit, leaving very few resources for the less glamorous and more dangerous part of the expedition—the descent. Similarly, companies devote their energies only to reaching the innovation summit—that is, identifying, developing, and committing to a brilliant idea. “Getting to the summit can seem like the fulfillment of a dream, but it is not enough. After the summit comes the other side of innovation—the challenges beyond the idea. Execution. Like Rainier, it is the other side of the adventure that is actually more difficult.” In short: There is too much emphasis on ideas, not nearly enough on execution.”

Americans are known for their innovative spirit, let’s hope we also nurture skills and entrepreneurs willing to execute ideas into reality.  Do you think we are losing our edge?

Speaking of executing on promising businesses, a few celebrities continue to invest in promising start-ups:

Leo DiCaprio Gets In On Celebrity Tech Investing, Leads $4M Round In Photo Sharing App Mobli

Lady Gaga Invests in Backplane

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