There has never been a better time than today to innovate and create something that is revolutionary. With access to infinite resources and a wider-than-ever-knowledge base, the potential to create something extraordinary is limitless.
You, as an individual, have the chance to create something for the present and future generations of mankind to harness for our greater good.
When it comes to business, innovation is your immunity against volatility. Since no industry is resistant to change, it is futile to stay stagnant and become irrelevant in the market.
Innovation helps you connect the three crucial dots that represent past legacy, current relevance and future success.
1) Disrupting The Status-Quo
When you’re looking to enter a market ripe with competitors in the same playing field, it is the power of innovation that helps you disrupt the market and grab the world’s attention. That’s exactly what Uber and Amazon did with their unique and innovative business models.
Digital disruption has helped thousands of startups to transform into global conglomerates over time.
Solving existing problems in new and more efficient ways gets you into the entry door and continued innovation helps you create a stronghold in the market.
2) Maintaining Stronghold In The Market
While new brands are able to gradually enter and grow in the business world through innovation, what about the companies that have been there a few decades and counting?
How do they survive and progress?
Constant Innovation.
Firms like Apple, Google, Hindustan Unilever and many more have stood the test of time with flying colours and piling profits by understanding the need to create new products and services as well as improve the existing ones. The universally applicable principle of “Adapt or die” is not an exaggeration in any sense, especially when it comes to business.
3) Innovation Equals Identity
In an ever-changing world of fads and trends that come and go within the blink of an eye, how does a company stay relevant?
New realities and sky-high expectations from consumers create the need to innovate in such a way that you form the foundation for building things that complement your business model. As you build your brand over time, you need to create a unique identity for your brand through dynamism and innovative products and services that help you stay relevant.
It will also help you save time, money and effort which can be productive elsewhere. Moreover, if you are able to differentiate yourself from other competitors, you have a higher chance of standing out and creating a special place in the minds and hearts of the customers. This is a great way to differentiate yourself as a brand and build a loyal customer base as well.
Welcoming Innovation To Your Life and Business
Now that you know how innovation benefits businesses, how do you actually do it?
Innovation requires you to step out of your comfort zone and challenge yourself. Take up live projects and tasks related to your business that make you charter into unexplored territories in a bid to make you think out of the box and push you beyond your limitless limit.
Give yourself and those around you the freedom to think and experiment.
Written by Gagan Dhawan
