To help businesses in getting started with innovation, it is useful to look at the different types of innovation, as well as, the impact on a business marketplace and the latest technology employed.

Innovation is so important for the future of any business and it’s something that every business can do from the solopreneur through to Microsoft.

Different types of innovation

In principle the more radical an innovation and the bigger the market impact it may have, the higher the risk of failure.

Practice makes perfect

The rewards for getting it right however are substantial. Most businesses should hone their innovation skills on incremental and sustaining innovation first, and then build confidence to start to take a more radical approach to innovation.

Being good at innovation requires training and development in the team on how to use new tools and techniques, practice and investment.

Getting started with innovation process

 Start the innovation process on the following areas first:

1. Business model innovation 

2. Process innovation

3. Incremental product innovation

4. Improving customer experience

Engage your customers by envisioning and building better products and experiences, developing go-to-market approaches and improving business models— Innovate to generate new growth, meaningful differentiation and real economic value.

How we can help

Business Navigation Services specialise in facilitating and supporting you with workshops, keynotes and project management. Book a FREE 30 minute consultation call with us to help you identify the next steps for your business.