Innovation: Translating an idea into a sale

There are many definitions of innovation but, as always, business is ultimately about making sales.  So, let’s get to the point.  To be successful on a continuous basis, you need new ideas; one’s that can be commercialized.  What does that mean?  Your idea is relevant to your current or next-great customer group, and that you have the means to bring it to market in a timely and profitable manner.

Where do the ideas come from? They certainly do not come from staring at the same four walls. They happen when you look through the window at the changing landscape beyond because inspiration comes from everywhere.

We suggest looking at innovation on three levels when you meet with your R&D, marketing, sales, engineering and finance teams to inspire holistic (not industry or company-specific) conversations.

– social innovation (movies, events, books, ads, programs)

– industrial innovation (seen, heard or experienced in other industries)

– category or brand innovation (relevant to your brands or business categories)

So, the next time that somebody asks if you have seen a great new movie or tried a super new product, don’t just answer yes or no. Remember to ask what they liked about it and why.

The great ideas are already out there, right in front of you.  You just have to remember to ask and act, and the sales will come.

– Ken Tencer

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