Innovate or Die!

Innovate or Die! The simple fact remains - if you want to survive - you MUST innovate, or your organisation will become another statistic. What will YOU do in order to survive?

Let’s face it, you don’t want to die, do you?

So, every day, you do things that are going to prolong your life – you eat, you drink, you exercise (or should do!)….the list goes on. The fact remains, from the minute you get out of bed, you start doing tasks that sustain life, mostly subconsciously.

So, if you’re in business seriously, how long do you want your company to survive?

Are you feeding it properly, not only with the right customers, but with the food it needs to grow and prosper, such new innovations and new products?

Look at some of the world’s largest companies, such as Apple, 3M, Google, to name a few – how do you think they got to where they did? Did they grow to the monstrous enterprises they are by just hoping customers would waltz in through the door and buy the products or services they had? Did they think that by being satisfied with what they have, that they would become market dominators?

No chance.

These conglomerates actually encourage innovation within their employees – Google and 3M actually pay their employees to spend time to innovate. In fact, the Post-It note was invented by a couple of 3M’s employee’s using time paid for by 3M to innovate. They played with it for 10 years before they found a marketable use for the adhesive that simply didn’t seem to be sticky enough.

Such a simple thing, and yet how many companies fail to do it.

Some of the largest companies failed because they didn’t innovate. Just look at the likes of Woolworths, Polaroid, Alta Vista, Kodak, Blockbuster, Borders… the list goes on.

Take Kodak – they had products that everyone used, but they didn’t look ahead – their products were made obsolete for them, and now the company is obsolete….

Maybe you’re a bit fearful or anxious about how to develop new products, or innovate? Maybe you’re afraid of failure – that it might not work….remember that failure is an important step in the process of success.  (Get a reality check on your idea)

Every failure brings a company closer to success, if embraced. For example, if a successful product brings in £1m in sales, and it takes 9 failures to achieve each success, each step in the process (including the 9 failures) can be viewed as bringing the company £100k in additional business – a positive way to look at failure!

OK, so to bring it back to earth – maybe you’re not a large company like Apple, or 3M, and perhaps you think that innovation only applies to those types of organisations – you’re wrong.

The simple fact remains – if you want to survive – you MUST innovate, or your organisation will become another statistic.

What will YOU do in order to survive?

Leave a Reply

Please Login to comment
  Subscribe  
Notify of