Putting Innovation at the Heart of Your Business

by Matthew Link

‘Nothing restricts our ability to innovate more than what we already know, and what we therefore believe not to be possible’ (Geoff Mulgan, founder of think tank Demos)

What is innovation?

Innovation is all about doing things differently, exploiting new ideas and taking risks. It enables businesses to bring new and improved products or services to market, re-energise brands, refine processes and, most importantly, improve profitability.

Innovation should be an on-going process that’s embedded in the company culture at all levels. It’s a team process that thrives when passionate people are encouraged to create ideas that challenge the status quo.

Everything starts from an idea, and the best way to find that magical innovation is to generate a lot of proposals. Success comes from filtering those ideas, identifying ones that the business will focus on and applying resources to exploit them effectively.

Why does innovation matter?

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Stay small, stay profitable

People often ask me to explain a statement on our website:  “we can we can supply what we design, even in low volumes.” Some people understand  my explanation right away; others take longer. Recently, marketing guru, Seth Godin, blogged about the virtues of “being small”. In some ways, he’s says it a lot more succinctly

“Economies of Small

by Seth Godin

Economies of scale are well understood. Bigger factories are more efficient, bigger distribution networks are more efficient, bigger ad campaigns can be more efficient. It’s often hard to defeat a major competitor, particularly if the market is looking for security and the status quo.

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