How to Adapt Innovation into your Business

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What do successful companies such as Samsung, Toyota and 3M have in common? They all have transformed old, existing ideas into new ones. If there’s anything we can learn from these companies, it is that new ideas fuel the success of a business. One of the big new ideas sweeping the globe right now is high value talent. A high value talent is a professional virtual assistant who works for a client at a remote location. The idea is that businesses – using technologies like the Internet and partners like Flat Planet – can source the best, most highly trained and experienced talent for their business at the best price, without regard for where they are on the planet and without regard for where the talent is. In order for an organization to be successful, the company must constantly think of new approaches and ideas that will not only push it towards its business goal but also possibly turn it into an industry leader. In other words, ideas that drive a sustainable competitive advantage that helps the business be super successful. Innovation is a fancy word that means New Ideas. These new ideas may come from something obscure, an inspiration from a life-changing experience, or out of necessity. Innovation empowers businesses to do better, to create something extraordinary from ordinary things. However, only few companies are able to do this successfully. Innovation is like the Holy Grail for most businesses. It’s the secret ingredient that a business has to master. As a business, how do you become an innovator? Here are five steps that you can take so that your business can get ahead of the competition. Shake Things Up We all have heard of the adage, “Think out of the box.” And yet this is something that some businesses fail to do. They might hire staff using old, habitual practices and not think about innovating or they are too afraid to step into unfamiliar territories that might deem risky. Thinking out of the box sometimes means shaking things up and coming up with something that challenges old ideas and processes. It also means stepping out of your comfort zone. Taking risks is something that businesses have to do to innovate. Forming a creative discontent within the organization can lead to that eureka factor that your business just might need to propel it forward. This is why innovative companies are considered as movers and shakers in the industry because they’re not afraid to be bold and speak up their minds about fresh ideas no matter how silly or controversial they may be. Certainly, considering using high value talent from the Philippines is going to shake things up and might be controversial. But it also could open the business up to a whole new level of competitiveness and success. Be a Matchmaker Mixing and matching can sometimes lead to new ideas. Commonly referred to as “forced association,” matching and combining different products or industries together to come up with new ones is another way to achieve innovation. By associating different things with another, you just might be surprised with the results. For example, one Flat Planet client has moved onto the next step in the relationship hierarchy, developing a new joint venture called Xilch. This new venture combines high value talent market with a cloud-based service that will support the growth of a business. Treat Failure as a Step towards Success Every successful endeavour has encountered failure one way or another. Some entrepreneurs failed many times before getting their lucky break. 3M previously failed as a mining company but through acceptance of failure, they were able to rise above the challenge and eventually came up with a new invention. Today, 3M’s Post-It Note helped make the company become one of the world’s leading brands. Failure then should not be seen as something that is detrimental, but rather as an opportunity for growth. Be Proactive Use the many tools available today to understand the market. To be always at the forefront of industry trends will greatly help you plan ahead and strategize so that your business stays relevant. There are many analytics and market research tools out there that will give you insights to the market so you can move forward and take the necessary actions. Being proactive lets you avoid the pitfalls of bad decisions that will affect your business. Use your company’s mission and vision as the guiding force for innovation. Much like what Flat Planet does, envision a future where your ideas and goals converge into one great concept that can tip the market scales favourable to you as well as help shape the world. Armed with added knowledge, your business will eventually flourish because you are one step ahead of the competition. Never Stop Improving Even a perfect product needs improvement in the long run. Take Toyota for example. For many years, the brand has enjoyed a reputation as a world leader in the automotive industry. Previous recalls of some of their model units did not stop them from being consistently ranked as one of the world’s successful companies. Imperfections in their products enabled them to improve their brand for the better. The same concept applies to professionals. For professionals, self-improvement is always a good thing. One does not end up at the top without the encouragements and positive influence of others. Self-improvement strengthens business relationships. A harmonious relationship between a business and a professional enables them to effectively work together towards a common goal. A fine example of this is the dynamic relationship between a client and a virtual talent. Through continuous improvement, the virtual talent will be able to deliver better service to the client. If your business is always on the lookout for opportunities for growth and you have an open mind to try new things, then there is a chance that you can become an innovator. Success is more or less a result of trial and error and you must accept the fact that some ideas may work while others may fail. No matter the outcome, keep in mind that your willingness to try new ideas is what’s important. As what Christopher Columbus once said, “You can never cross the ocean until you have the courage to lose sight of the shore.”