What is Real Innovation

If you've read through our other posts, you'll notice the repeated use of the term "real entrepreneur". We won't get into the complete definition of what that term means to us today, but we will introduce the only matter of business entrepreneurs should worry themselves with; real innovation.

"Real" Innovation rarely happens accidentally or sporadically throughout the career of a real entrepreneur. http://www.realinnovation.com/content/what_is_innovation.asp

"Real" Innovation is accomplished consistently and systematically, given the true voice of the customer and a process for delivering solutions. Companies that innovate successfully do so using an efficient and repeatable methodology. Success is not dependent upon genius – it emerges from the disciplined application of a proven innovation methodology"

So what is a "proven" methodology? While there are quite a few methods that are generally excepted as a reliable means to real innovation; Breakthrough and Open Source innovations are among our favorites.

Breakthrough innovations occur when a product or service disrupts the current state of a market-think iPhone and Google Docs. Open Source innovations are innovations which also which disrupt the current state of the market but are derived from both internal and external sources; meaning, a company will "open" the innovation process to a group of people and draw on their input to innovate a product or service. Eli Lilly is a great example of a company utilizing an open source platform to solve complex problems involved in the innovation process.

Despite whatever your innovation method of choice might be, accomplishing "real" innovation must at a bare minimum 1) improve the life of your customer 2) have a measurable return on investment and 3) strengthens the brand(s) of the company.

Check out the slide show in our previous post to get your self started. Of course we're always available to answer your questions.


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