What to Do When Innovation Stumbles

Many organizations today recognize the benefits, as well as the necessity, of successful innovation to evolve their businesses. I’ve written previously about developing innovation from several perspectives, including:

change management,

providing opportunities to generate innovative ideas, and

not blocking idea-generation,

but the launching process differs from organization to organization. Read more …. virginia-69004_700x400

Optimize Your Optimizing, Part II

A key strategy to remaining competitive in your industry is to implement operational efficiencies, also called “process optimization.”

It’s important to truly customize this initiative to your own organization, rather than simply choose a standard methodology and work to integrate it. Your processes and people are particular enough to your organization that standard methodologies such as “Agile” or “Lean” will not fully achieve maximum results without some level of customization, much like tailoring a suit.

You can read more about this topic here. That link sends you to my most recent monthly blog for the Business Advice section of the New Hampshire Business Review. Please check it out!

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Thoughts on Creating Useful Innovation

I’ve been writing a lot lately about innovation and its importance in business. Recently at a TechWomen Power Breakfast hosted by the New Hampshire High Tech Council, I had the pleasure of seeing a presentation by Dulcie Madden, CEO and Co-Founder of Mimo. Read my blog post about it here.

Mimo was founded in 2011 and in 2013 launched its first product, a baby monitor that tracks sleeping trends using wearable technology and leveraging the Internet of Things (IoT) to enable the collection and distribution of useful data.

Two things struck me about Dulcie’s presentation, relevant to innovation.

First, this particular innovation started with a developing technology that was customized to a specific target market.

The back story is that while Dulcie and her partners were students at MIT developing a new kind of sensor to better understand how people sleep, they spoke with many users during the testing phases. Some were parents and asked about applying the technology to the nursery, and the team recognized the unmet needs of this market. They also realized this market’s needs resonated with them.

Second, the recognition of an under-served market where it intersected with technology (the evolving “connected” state of the IoT) yielded an excellent opportunity. That is, by recognizing an application (pardon the pun) to a particular purpose and leveraging the building momentum of today’s evolving technology, Mimo developed a highly marketable innovation. Now they are well on their path to helping parents create The Smart Nursery.

These are two excellent best practices to consider relevant to your innovation strategy. How can you leverage technology and apply it to a particular use or target market to fulfill an unmet need?

Read my blog post about Dulcie’s presentation herebaby-1266116_700x400.

 

Optimize Your Optimizing, Part I

The science-slash-art of business process optimization provides an opportunity to engineer more productivity and time-savings from your systems while reducing waste. In truth, it requires both an objective assessment of your business — the way an outsider would see it — and the creative development of new techniques to improve your competitiveness. It’s a necessary and worthwhile undertaking to optimize your resources.

You can read more about it here. That link sends you to my most recent monthly blog for the New Hampshire Business Review. I’m excited to announce a new relationship with that publication in their “New Hampshire Tech Roundup” of blogs with business advice. (You can sign up on their website to receive email notifications each week about the latest insightful content.) Click or tap here to read part one of “Optimize Your Optimizing” to learn more about business process optimization.

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If Not You, Who?

I’m participating currently in Leadership New Hampshire, an initiative that annually gathers together a group of skilled individuals and provides opportunities to connect, to learn about issues facing the state in which we live, and to grow to serve our communities in positions of leadership. The most recent session’s topic was Government and Politics, which was apt given that it was held two days after the New Hampshire Primary.

I can hear you groaning now. No, I’m not going to discuss the current political candidates, which gives us hope that the comments section won’t devolve into contentious ranting and name-calling. Read more …. congress-74032_700x400

Open Mind, Open Doors

One of the keys to fostering innovation in your business is to keep an open mind. Leveraging disruptive innovation requires the ability to embrace different approaches to your processes to evolve them creatively as the world continues to change everywhere you look. For example, not too long ago, who would have envisioned a business model in which renting rooms for the night did not require owning any properties?  Read more….

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