IN today’s business world and in particular the executive boardrooms, many companies thrive in operating in a disruptive environment. Innovation is a on every business agenda and is absolutely critical for sustainable growth.
It’s thought that 85 per cent of CEOs rank innovation as one of their top three strategic imperatives. And for good reason. When executed properly, innovation can be a game-changer in a business, whatever the size. Consider how electricity, the steam engine, the fax machine, flight, the Internet and the mobile phone (to name just a few examples) had the power to move us forward.
With the power of the internet and the level of logistics available, small new-starts now have the potential to disrupt major industries – and you won’t even see them coming. Consider Airbnb: Founded in 2008, the company now has 3,500 employees and is valued at $35 billion, making it the second most valuable start-up in America (after Uber). In stark contrast, Hyatt Hotels, founded in 1957, has 45,000 employees with a market cap of $7.6bn.
Uber offers another example. Founded in 2009, it has 16,000 employees globally and a market cap of $75bn. Automaker BMW, founded in 1916, has roughly 135,000 employees globally and a market cap of $45bn.
But these massive growth stories should not lead us to believe that innovation is simple. If we have an idea, new product or service could that could make money, save money or help us be more efficient, the key to success is mastering the skills to get your message across. Mastering these important skills will provide a platform for others to sit up and take notice of your ideas, to get others to listen to what you have to say.
If you cannot explain your idea, capture and energize people around it and galvanise resources for it, you’ve already lost. Your idea has become the proverbial tree that falls in an empty forest. No one is around to hear it make a noise.
So you need to ask yourself - How are you planning to have your ideas stand out among the crowd in this busy world overloaded with information? How are you planning to demonstrate that your ideas matter?
You must be able to think differently, and for that, you need bravery, creativity, and imagination. Organisational leaders who embrace this philosophy have thrived in the digital age. Don’t be fooled into thinking that creativity is a natural-born talent either. Creativity is actually a way of operating. Next time you have an inspirational idea, focus on your surroundings. What were you doing, and where were you? Was it morning, afternoon, or evening? What triggered the inspiration?
The goal is to understand what your specific rituals and routines were in that specific moment of creative awareness and then reaffirm them over and over. This is how creativity becomes a habit or even a lifestyle of sorts. This is how you get to control your creative process and keep churning out ideas.
You need to know what you are talking about. That doesn’t mean you must be the top expert in the domain of your idea, but you at least need to understand the fundamentals and how they relate to moving the business agenda forward.
Take ownership of your idea. It is your idea, after all. Make sure you drive it, you give it life, you own it, you inspire others with it, you generate energy around it, you get the necessary resources for it – you, you, you! Remember - If you don’t build your dreams, someone will employ you to build theirs!
Mastering this skill of getting things done is critical. If you can’t get things done, your idea will die - end of. In fact, many entrepreneurs’ ideas die here, because they are unable to master this skill and actually execute on their ideas.
Finally, getting things done is the most critical aspect to ensure that your idea makes it from concept or the idea stage to execution whether it be a service, product or whatever.
So what’s next for your idea, for the industry you find yourself in? What impact will your ideas have on the world around you? How will you use your ideas to create value and drive purpose that makes a difference? Master your innovation skills in our digital age and create a bright future for yourself.
:: Trevor Bingham is in charge of business development at Tarkenta – Focused Battery Solutions
