Business Like Branson Exposed

Innovation is a key for growth today and understanding innovation is a massive advantage for business in the 21st century.

As we can be certain of 4 issues about the future;

It will be a time of great uncertainty
It will be very different from today
The difference will come at an ever increasing pace
Those who don't innovate will become obsolete!

Innovation is quite often misunderstood, so I'll go through some key points;

What is Innovation?

Innovation I a nutshell could be summed up as continual improvement on steroids. Continual improvement is taking baby steps forward, where as a successful innovation is taking a giant leap forward.

Innovation is the successful implementation of creative ideas, which begins with people thinking creatively.

It's about asking smarter questions;

How can we do it better?
How can we do it faster?
How can we improve on quality without blowing out the costs?
How can we achieve more with less?

The best businesses today are the innovators!

The leading corporations of today all embrace Entrepreneurship & Innovation. There are countless examples of junior team members identifying an opportunity to make the company millions of dollars that senior management has missed. This is why leading corporations hire entrepreneurs internally to champion innovation projects.

Virgin Blue airlines are a great example; Richard Branson has created a fun environment to work in, resulting in people wanting to work for them even though they can earn more working for Qantas, and which airline do you get more smiles from staff... Virgin wins hands down! - This is a great competitive advantage today when it is so competitive to retain staff.

"An innovative business is one which lives and breathes 'outside the box'. It is not just good ideas, it is a combination of good ideas, motivated staff and an instinctive understanding of what your customer wants." - Richard Branson

Quite often, the words creativity and innovation are used interchangeably, which should not be the case, as while creativity entails coming up with ideas, it's the "bringing ideas to life" . . . that makes innovation the distinct undertaking it is.

Through encouraging innovation throughout your business can result in exponential growth and ensure long term sustainability. There is no point in growing your market share with a product that is almost obsolete, like vinyl records or videos, whilst the competition has moved on to the next big thing.

The 3M Post-It notes

3M were trying to develop a glue so powerful that once it was applied could not be pulled apart. Initially this project looked like a failure, however they had invested a large amount of R&D in this project so rather than just scrap the project they brain stormed to work out if the product could be used for something else.

To cut a long story short 3M Post-It notes was born and what a successful innovation it has been. Post-It notes are used in most offices all over the world today. Plus 3M didn't just stop there they continued innovating and 3M Post-It notes come in all sorts of sizes and applications.

Innovation is not only a major key for business success today, but a key for survival.

Today it's Innovate or Die!

This article is an excerpt of Aaron Parsons Best New Book "How To Make A Million Dollars In Your Business In The Next 3 Years Or Less". To claim Your FREE copy of this priceless book go to http://www.BusinessGrowthGuru.com

Plus you will also receive a free success audio of Robert Kiyosaki's former business partner DC Cordova, mentor to Billionaires, World Leaders and CEO of Money & You.

You're welcome to use this article provided the active links and the author signature box is included.