Developing new solutions can be expensive, complex and risky. So why not identify new applications and markets for your existing knowledge and solutions? This lowers the risk and leads to new successes faster and cheaper.
Innovation is often seen as risky, but it doesn’t have to be a fuzzy process of trial and error. By applying a proven method and understanding your industry and market, you can make informed decisions, removing the risk from innovation.
Getting the timing of innovation right is fundamental to maximizing the returns. Bad timing can lead to disaster, whether you get to market too early or too late. These are the items to consider.
Biomimicry or learning from nature will only gain importance in the future. Before companies make any design decisions, they should ask: “How would nature solve this problem?”.
What is of no use for you can still be valuable to someone else. Audit your waste stream. It can pay off to put some effort into identifying partners who are keen to take your waste and use it as a source material for their product.
Nothing is permanent except change. Pick up these societal changes as fast as possible and think about how they impact your business. And dare to disrupt your own business.
Do you fear that robots will take your job? A lot of jobs wil likely disappear, but it is up to us to arm ourselves against a future of uselessness. Learn to hit the ground running.
Stubbornly developing a product nobody wants will lead to disaster. So, think critically about your idea, discuss it with others any way and any time you can. Challenge your idea and adapt to new insights and understandings.