Pursuing Innovation
Have you ever searched for the word innovation on Google Images? Well, I have and the result is an endless variety of lit light bulbs. As you can imagine, this is because modern lighting that electricity brought to the masses changed and facilitated people’s lives forever and this is the only result that we ought to expect when we hear the term: innovation.
But what exactly is innovation? By this, so broadly used term, we mean that something generates value for the world and that its main motivation is the passion to provoke a significant shift in people’s lives. Innovation does not necessarily concern a product. As explained by MIT professor Bill Aulet, there are many types of innovation, some of which are technology, process, business models and position (meaning how you position yourself). Also innovation is not always disruptive, as it doesn’t always have to be about something brand new. Innovation can also be incremental, if you are able to improve something by 10–20% or even lateral in the case that by adapting an element from another field you bring innovation to your own.
According to MIT professor Edward B. Roberts, what we call innovation is a multiplication of invention and commercialisation and it is wrong to define it simply as a new idea. In order to turn an invention (an idea) into an innovation, we need to find the way to commercialise it, so as to really create value out of it. It is commercialisation that actually drives innovation and not invention, as many might believe. On the other hand, if we multiply the level of commercialisation with a non-existent (“zero”) invention, the result will not be qualified as innovative. Thus, we first need a great invention and then we have to look for the best way to commercialise it so as to create an innovation.
This process is quite easy to write, but in reality not many people are able to reach the willing outcome. For marketing specialist, Guy Kawasaki innovation is an “art” and he has tried to help the aspiring “artists” by providing to them the following ten main tips.
- “Make meaning”: It is only the desire to change the world that can lead you to an innovation, not the desire to make money.
- “Make a mantra”: A2–4 word explanation of why your meaning should exist will help you make a clear mission statement.
- “Jump to the next curve”: You should be able to seek for opportunities everywhere even if this means to move to a different curve. You ought to define yourself over the benefits that you provide and not over what you specifically do.
- “Roll the DICEE”: Every great innovation needs to have five qualities . Deep (with lots of functionalities), Intelligent, Complete, Empowering and Elegant.
- “Don’t worry, be crappy”: “It’s ok to have some crappy elements while you are evolving”.
- “Let 10 flowers blossom”: Positioning and branding depend on what the consumers decide.
- “Polarise people”: Only great products and services polarise people, so you’d better embrace it.
- “Churn baby, churn”: Ignore the failure and the negative comments that you might face in the beginning and only as soon as your innovation is out, start taking into consideration the feedback you receive. Then, start evolving your product to meet your consumers’ needs.
- “Niche thyself”: On a Unique-Value chart you want to find yourself qualified as both unique and valuable.
10. “Perfect your pitch”: Use an introduction customised to your audience and follow the 10, 20, 30 rule of presentation: 10 slides-20 minutes- 30 points font size.
Bonus tip: “Don’t let the Bozos grind you down.”: Don’t let others convince you that your innovation is not worthy, because they might not be able to see the next curve.
“The ones who are crazy enough to think they can change the world are the ones who do” had said Steve Jobs, one of the greatest innovators of our times and while reading about innovation, we can realise that he was right. According to innovation speaker and trend hunter Jeremy Gutsche, it is of great importance to be able to recognise opportunities everywhere even if others overlook them. “The big ideas are closer than you think”, but first you need to decide which ones are worth chasing, as every decision you make will lead to a different version of your potential. Many innovators end up failing because once they figure out what they are good at, they start harvesting and investing on the same decisions over and over again, even though these might no longer work. It is crucial to be able to find that “next curve” that Kawasaki was talking about.
Finally, Gutsche presents two roles that can lead you either to success or to failure. The first role is the one of the farmer, who tends to be repetitive (repeats the same once successful steps), complacent (has lost the “hunger”) and extremely protective. These qualities are sure to harm what one has created. The second role, the only one that can lead to a long success, is to be a hunter. A hunter remains insatiable, curious and willing to destroy (in this case destroy in order to create something greater). It seems that these qualities are the ones to keep someone moving, constantly trying for something better and in the end of this tale innovating.
Team members: Athena Styllou, Olympia Georgakopoulou, elena kouki, Anastasia Koutsothodorou, Tonia Molvali
Professor: Betty Tsakarestou
