Innovation

Innovation Principle #2: Creativity is Essential to Survive

May 17, 2017

Today’s Transparent Online Global Market Requires Creativity

Creativity is not always innovative, but innovation is always creative. When it comes to innovation, it’s creativity that differentiates products and services from the competition in a world of:

  1. product proliferation, where thousands of new products are created each year;
  2. a global economy that’s increasingly integrated, where options are transparent and easy to buy online; and,
  3. business, that’s easier than ever to start and get going online.

I recently gave a presentation to explain more about the creative economy and why creativity is so critical for differentiation, which we turned into a fun short video.

What we see is that most innovative businesses go beyond supporting creative talent on an individual level, to cultivate an overarching culture of creativity that is replicable and scalable. In these environments, deviations from the norm are not only acceptable, they’re encouraged, with the understanding that the seeds of creativity can propagate innovation.

Reinvent Yourself

In this world of transparent global competition, routinized services and products end up going to the cheapest location. Creativity and innovation help keep a business or products fresh and harder to replicate. Sometimes, businesses need to reinvent themselves to ride a shifting landscape. Take Netflix, for example. As streaming technologies surpassed physical rentals, they overhauled their business model to focus on streaming subscription models. As a result, Blockbuster went bankrupt, and Netflix went on to be one of the fastest growing stocks in 2013.

reinvention

Companies that don’t seek creative solutions to innovate end up regressing and can potentially die. Make creativity part of your innovation culture to stay competitive and avoid becoming obsolete.

Founder and CEO of Fresh Consulting, student of all things creative, innovative, and fresh, professional snowboard instructor trainer, father.

You might also like...

21

Jul.

Innovation Principle #6: Ideate Alone First

Ideate Alone First Before you Analyze and Discuss as a Group Have you ever gone along with a proposed plan just to be agreeable, only to find out later that everyone else was doing the same? The Abilene Paradox describes exactly this phenomenon of “Group Think”. When a group of people decides on a course … Continued

13

Jul.

Innovation Principle #5: Frame a Beautiful Problem

Focus on Creating a Beautiful Problem First When approaching a problem, it’s important to not jump directly into considering how to solve it, but rather how to frame it up. Establishing an effective framework for the problem engages the creative mind more deeply. The idea is to plant the problem in your brain, so that … Continued

6

Jun.

Innovation Principle #4: Present a Challenge

From Elon Musk’s Hyperloop competition to reality TV shows like Shark Tank to the spaceflight challenge from XPRIZE foundation, challenges are utilized to spur innovation. Using challenges is an effective framework that leads to innovation because they are exciting to people, they spur motivation to drive to results, and they are often tied to solving problems, … Continued