Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Developing innovative ideas for new companies

781 views

Published on

New companies are not burdened with bureaucracy that keeps bigger companies from adopting innovative ideas and a process.

Published in: Business, Technology
  • Be the first to comment

  • Be the first to like this

Developing innovative ideas for new companies

  1. 1. DEVELOPING INNOVATIVEIDEAS FOR NEW COMPANIESFor additional information about Innovationplease visit www.InnovationGrow.com
  2. 2. www.InnovationGrow.comNew companies are not burdened with bureaucracy that keeps biggercompanies from adopting innovative ideas and a process.By developing a good culture and framework for innovation from thebeginning people can ensure that their company is competitiveindependent of how new they are.Using the collaborative approach of all employees, mentors, consultantsand even its competitors, new companies can spark the creativeprocess to lead to game changing innovations from themselves andtheir industry.2
  3. 3. www.InnovationGrow.comThe old paradigm of having a creative or research and developmentteam seems to be fading and in any case is out of reach for newcompanies.By leveraging any available creative power (employees, businesspartners, customers) a new company can develop innovative ideas.The time that people need to output creative solutions varies fromperson to person, but by setting aside thinking and free time you canunlock their true creativity. Once they are able to generate the ideas itthen becomes important to put them into a carefully designed processto maximize each idea.3
  4. 4. www.InnovationGrow.comEach innovation process for developing the initial ideas will look slightlydifferent but the core concepts will remain the same.Finding ways to encourage idea creation that is then captured and ratedin some way, determined by your needs at the time, will increase theeffectiveness of the process.People involved in the innovation process of the new companies needto be encouraged to take risks in not only coming up with seeminglyabstract ideas, but also in the development of these ideas.4
  5. 5. www.InnovationGrow.comThe important thing to keep a handle on is the testing process for theinnovations.If something is exploding and testing really well you have to be able tothrough resources at it as long as it makes financial sense.The more new innovative ideas that a new company can test the morelikely they will be to find something that works.By removing the barriers to innovative idea creation and testing you willallow a new company to develop a few innovative concepts that couldmake the company a success.5
  6. 6. www.InnovationGrow.comIf the process is solid but the people that are inputting the ideas seemto be coming up short you can look to outside influences to spark theinitial idea generation.This can be achieved by holding a contest with staff and customers,bouncing ideas off of a mastermind group, or even discussing markettrends with your competitors.The important factor in not wasting any innovative ideas that aregenerated is to have a process to flush out and test this idea as quicklyas possible.6
  7. 7. www.InnovationGrow.comBy putting aside resources such as time and money you will be able todevelop and cultivate an innovative process that will grow as your newcompany grows.Take the time to innovate on theinnovative process itself and knowwhen to feed or kill the ideas as quickly as you can so that you don’twaste time or other resources on ideas that don’t pan out.As a new company you have fewer resources to waste and thereforeyou should tighten the innovative process so that you can still generateand test several ideas without wasting as many resources7
  8. 8. GROWING BUSINESS WITH INNOVATIONFor additional information about Business Innovationplease visit www.InnovationGrow.com

×