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Harvey Mackay
Column for the week of November 16, 2009
Spark Innovation
in Your Company |
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If you have a dollar and I have
a dollar and we exchange them, you still only have one dollar
and I have a dollar. But if you have an idea and I have an idea
and we exchange ideas, you and I now each have two ideas. And
ideas lead to innovation.
One of the hottest words in business
is innovation. The word, and its significance, never actually
went away, of course, but it was heard less often during the
booming '90s. Now, companies like the Ford Motor Company are
basing their entire advertising on the concept of innovation.
"The imaginative organization
understands that innovation starts with an idea," said Peter
Drucker, the late management consultant and author. "Ideas
are somewhat like babies. They are born small, immature and shapeless.
They are promise rather than fulfillment. In the innovative organization,
executives do not say, 'This is a damn fool idea.' Indeed they
ask, 'What would be needed to make this embryonic, half-baked,
foolish idea into something that makes sense, that is feasible,
that is an opportunity for us?'" |
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Innovation is not a one-time
event. It is a dynamic process that we must do every day. Truly
innovative companies allow employees to take risks, large and
small, to build a better mousetrap.
Whether you're the CEO of your
company or a front-line employee, you can't afford to take innovation
for granted. Take an active role in inspiring new products and
services with these strategies:
- Start close to home. You don't have to design a brand-new
product or come up with a revolutionary idea that's never been
seen before. Improve on what already works, or apply it to a
different problem. Can you add features, make it faster, or deliver
more value? Listen to your customers. Are they asking for changes
that you hadn't thought about?
- Stimulate the right people.
Recruit employees who
are talented, but frustrated with the status quo. Their energy
will produce some outside-the-box thinking that will spark new
ideas.
- Cross-pollinate. If only engineers are working on a project,
they'll tend to see engineering problems and find engineering
solutions. Get as many people and departments actively involved
as you can manage. Innovation thrives in an environment of different
perspectives. Bring in people with different experiences to open
up possibilities. Ask those who use the products what they would
change if they could.
Tolerate risk. Expect some failures, and treat them as learning
experiences. Be open to the possibility that a "mistake"
may turn out to be a great idea.
- Don't just follow the money.
Revenue is your ultimate
goal, but other factors should guide your decisions as well.
Innovation should produce value to customers, employees, the
community and your other stakeholders. Focus on delivering value
and the revenues will follow.
- Start the clock. A deadline creates urgency and excitement.
While innovation in general should be ongoing, it's reasonable
to set a firm timeline for results on specific projects. "Perfect"
solutions may be elusive, but improvements that are workable
are an important first step. Implement them while they're still
fresh to keep enthusiasm alive.
- Reward your team. Share the financial benefits, but don't
forget to show your appreciation in other ways. Praise your employees
for their creativity and commitment to the project. Celebrate
their success and willingness to take chances.
- Encourage ongoing innovation. Create a culture of innovation where
employees know their ideas are welcome and valued. Provide continual
learning about your products, services, customers, technologies,
competitors and industry. A well-informed and educated workforce
is more likely to recognize opportunities for innovation.
Richard C. Notebaert, former
CEO of Ameritech and Qwest International, illustrated how lack
of innovation has been an issue for thousands of years: "In
a museum at Princeton University, there is a toy from a pre-Columbian
civilization. It's a pull-toy complete with wheels. Now the question
is, if the craftsmen of the day were able to conceive of and
construct wheels for an amusement—a toy—why didn't
they take that technology a step further and design carts and
wagons? Why didn't they develop tools that would ease their burdens?
Many scholars conclude they just never thought of it."
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Mackay's Moral: |
Charge up your work environment!
A tiny spark can produce electric results. |
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