Innovation… What & How?

May 28, 2013 in General by Roger Khater

I constantly came across entrepreneurs with a brilliant idea that they cannot share, fault to be stolen and been implemented by someone else.

My response is quick and simple: if you cannot protect your idea, you are better off seeking another one.

So, before getting into a business modeling and/or planning, you better assess well your idea, introducing as many innovation into it, to protect or delay copying as much as possible.

What is Innovation?

Innovation is the practice to develop new values on any of the main business functions: idea, product/service, process, technologies and/or business model.

Innovation is not invention nor improvement, it differ from being better and different.

Innovation also differ from creativity that you can protect and minimize copying.

Innovation is a thinking style, measured by a balanced score cards.

How you can Innovate?

You can innovate by thinking beyond the common logic in order to identify new values, better and/or different, in your business proposition that you can ultimately protect.

When you follow the same common logic or normal creativity, expect having lots of competitors.

Always capitalize on particular values, skill sets or particular environment to innovate.

Finally, once all innovations are identified, make sure keeping within the confidentiality of your team and never list the details in a public business plan.

 

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