The tale of the tortoise and the hare is an inspiring one with a debatable moral, ‘slow and steady wins the race’. This does not fit our usual perception -success is achieved opportunists, those who plunge into action taking rapid steps for their growth. Common belief has it that the quick will win the race while the slow and deliberate will trail behind. Most entrepreneurs think similarly; rapid changes are done in product design or marketing practices to achieve quick successes. The entrepreneur needs to maintain a sense of urgency, true. But he must wait for the right time to introduce his product. He must also seek to build an innovative strategy that involves new technologies, ideas and creativity, which lead to innovation and ultimately commercialization.
Innovation is important, I know, so what?
If your product doesn’t solve a problem or solves it with less than efficient means, it isn’t innovative enough. Innovation is about progress – if you aren’t solving problems more efficiently – where is the progress? Progress, implying innovation, gives life to a business in a market economy. A product or a service of a great value yesterday may be, without innovation, un-competitive, out-dated or even unwanted today. The greatest potential lies in the unknown, the undiscovered. The capability of capitalising on the unknown makes one an entrepreneur in the true sense of the word.
It’s also important to note that sometimes some entrepreneurs decide to simply follow a successful business model with very little innovation on their side and still taste success. Recent examples are the several photo pinning websites which are heavily ‘inspired’ from the online pinboard “Pinterest”- most of these websites have come up with pinboards targeting a certain segment of users. Many entrepreneurs pursue cloning business models from across the world and applying it either in their local market or make a niche vertical.
So where does it start?
We know where the most creativity, the innovation, the stuff that drives productivity lies – in the minds of those closest to the work– Jack Welch, ex CEO General Electric
Want to be innovative? Look around! The answer is all around you. Think about anything in life, and get your lazy self together to do it in a simpler and efficient way.