Barriers To Innovation
Remember the days when you were a fledgling start-up company?
Every day was about creativity and innovation. You employed bright innovative people. Your goals were to identify a problem and create an interesting solution. Your passion was to think out of the box and be recognised as an Innovator, to bring something new to the market. Profit was a goal on the horizon but the real, everyday goals were getting new products and services off the ground. Each great customer review was a small win, because you knew that meant you were heading in the right direction.
Today you are a big successful company. Your only measure of success is profit. Customers are quantified, expected rather than valued. You no longer take risks because now there’s a risk of letting the shareholders down. Your employees no longer feel free to share their creativity and ideas. The entrepreneurial culture has dissipated, which means you no longer attract the bright innovators.
Where did you lose the edge? And what happened to Innovation?
Governance, bureaucracy and a focus on profitability may have changed your companies DNA. Blinkered by the bottom line, you can’t see beyond your successful product, brand or line. Your goal is to continue as you are while increasing efficiencies and reducing costs. Your success may not last long.
Bring in new people that are willing to help you think outside the box
How do you gain back your edge? You need a fresh perspective. Bring in new people or a consultancy that are willing to help you think outside the box, shake things up and embrace the unconventional thinking that led to your initial success.
Continue riding the wave of success but build on it with fresh ideas so it doesn’t come crashing down. Expand your brand to other products or services. Think like a brand new customer. Attract different thinkers. Take risks.
Don’t get stale, get creative.
Contact Elaine Griffin or Kirsty Auchincloss:
Elaine.Griffin@cadenceinnova.com or Kirsty.Auchincloss@cadenceinnova.com