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Steps to Achieving Innovation in Business
By Cris Beswick
Ok, before you read on let me be absolutely clear about one thing. There are no quick routes, shortcuts or guru inspired equations that will deliver true innovation. The truth is that it’s hard work and it takes time if you want it to be a sustainable part of your business. But it’s absolutely worth the effort, as we all know it drives business growth and competitive advantage!
The challenge most MDs and CEOs face is how to create a company with an entrepreneurial and innovative culture. To help meet that challenge the companies I work with buy into my philosophy that ‘innovation is a by-product of being exceptional’ and that unless we strive to be outrageously good at what we do the chances of being truly different, innovative and world- class are remote.
The bottom line is innovation is all about people. Creating the right culture and engaging people to want to be exceptional is what the world’s leading, most innovative companies do best. They are talent-rich, entrepreneurial communities, collectively passionate about what they do and how they do it. Whatever sector or market you are in, whatever product you sell or service you offer, forget it. If you’re the MD or CEO, from now on I want you to think of yourself as being in the people business! The first thing to get your head round is that shareholder value is no longer delivered by the hard traditional metrics but by what I call the three emotions of business, Love, Desire & Hate!
You and all your people need to absolutely ‘Love’ what you do and how you do it. Your customers have to ‘Desire’ your brand to the point that you’re the no- brainer choice. Finally, your competitors should hate ‘Hate’ you. They should be constantly scratching their heads trying in vain to catch up. Now if that isn’t what we all want our innovation efforts to deliver us then I don’t know what is!
I believe building an innovative ‘people centric’ company is about your approach to these seven things, Strategy, People, Community, Environment, Creativity, Risk & Leadership.
These seven key themes are explored in more detail in my latest book ‘The Road to Innovation’ and all play a huge part in getting you, your people and your business further down the road to innovation.
So, if you’re up for the challenge here’s an insight into where I think you should start.
The fact is that the road to innovation is more important than the destination. The best companies in the world say they are on a journey as it’s the journey that creates significant change, especially when that change has a clear purpose.
Strategy… You need to be absolutely clear about the strategy for innovation and differentiation you want to achieve and most importantly, your people need to be clear about it as well so involve them in the process. After all, if they deem it ‘your plan’ they’re less likely to do it and certainly won’t do it well. There must be an overarching vision that drives what you do so don’t be afraid of using new language, think big and be ambitious.
People…
Change has to start at the top so if you’re now thinking in terms of being in the people business appreciate their value to the company but most importantly their as yet untapped potential. Give your HR director a seat at the top table. After all, if delivering innovation is going to be done through your people then his/her input is now strategically vital. Oh and by the way, change their title from HR to HB (Beings). They’re people not resources remember. Find out what individuals are best at and most enjoy then sculpt roles around them. Rewarding people for their efforts is key but not always in the traditional way.
Community…
Creating an innovative culture means creating a silo free community where everyone is able to contribute and where there is no place for the status quo but you can’t do it on your own. Vital to the success of
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