Innovation? Two things to Consider

on

 What is Innovation?



We can say I in innovation is either 

  • ·      “Introduction” of a great product or service into the market.
  • ·      “Improvement” of an existing product or service

 

Let’s talk about the Framework on which any innovation element should be built on. 

 

“Coming up with ideas might be easy many a times, implementing those ideas innovatively is the tougher challenge”

 

VALUE

First and foremost, comes VALUE. In the context of value there are some key questions every organization should ask themselves. I am taking an example of company who sells Denim Jeans to explain this.

 

1.     Who am I?

a.     We are a company who sells Jeans

2.     Who are my target audience?

a.     Our target audience are between ages 20-25.

3.     What are the pain points which the audience miss in other products?

a.     Fun Factor

b.     Trendy

c.     Youthful

4.     What is the Value?

a.     Youthful, Trendy, Fun Factor, Colorful and few dollars less than the nearest best brand.

Once you understand who you are serving and respect their pain points you generate value and once you generate value you have become innovative.

 

Brilliance (Simple and Smart)

Every product or service we develop should be simple and easy. 

  1.       If we see a product and service can that communicate or tell a story without being trained or with very little training to the end user?
  2.       If the above statement is achieved, your end product is “Brilliant. Smart. Simple” and most importantly “Innovative”

 

Lack Innovation? Want to hire an Innovation Consultant for your organization? 

Are you a Solo Entrepreneur and want some innovation in the product or service?

Are you a start-up? Feel that your products are not innovative?

Or are you an Individual who wants to understand Innovation?

 

Talk to Innovation Consultants at EVAL-BI. They helped me and they can help you too.

 

Contact EVAL-BI

 

Follow EVAL-BI on Facebook

 

About the Author:


 Raghav is a Seasoned Data Analytics professional for 12 years now. He loves talking, teaching and believes mentoring can help everyone to make this world a better place. He is strong believer in Innovation.

 

Areas: Data Analysis, Data Visualization, Data Science, Startup.

Comments

Post a Comment