Contrary to the cartoon above, you don’t always have to face the maze of destruction when bringing an innovative idea to market.
Today we speak with global innovation & trends expert Debra Kaye. Debra is an author of the brand new book Red Thread Thinking. We have covered innovation in the past before with both Mark Sebell and Bryan Mattimore. Mark’s episode focused more on how large brands can innovate from the C-Suite and what that process looks like. Bryan focused on the brainstorming process itself. What I really like about Debra’s perspective is the tie to profit.
Let’s be honest, ideas are great. Innovation is better. BUT unless you can take it to market and make a profit out of it, it is just another idea. And in the immortal words of Dave Knox, “The problem is, people have ideas and aren’t taking action.” Applying this to Debra’s book, it is fundamental to tie new ideas to profitability. Debra puts it simply:
“I think what holds us back is fear and doubt; that’s what actually holds us back a lot in life in everything. Right? And innovation’s really all about connections. [. . .] You don’t really need to have any creativity. You just need to do a really good gap analysis of what’s missing. Any company today that really looks at their marketplace and looks at gaps and looks at consumer needs can be great innovators. That’s what innovation’s really all about.”
One of the key things that Debra touched on is separating creativity from innovation Once you realize that it comes down to analytics and seeing an opportunity, the pressure of being creative goes away. Take a listen to the episode below and hear more from Debra about this and her nuggets on insights. Enjoy!
[Lead Image by The Marketoonist | Tom Fishburne]