Synthesis Solutions recently began tapping into the world of experts on LinkedIn to create its Great Conversations series, designed to address vitally important business topics through a lively exchange of ideas. Following a robust conversation around five Leadership Principles, we are pleased to launch Great Conversations: Innovation, a discussion of four separate aspects of innovation:
- Discovering creative solutions for existing problems
- Adapting to changes in the marketplace in innovative ways
- Finding innovative ways to increase operational efficiencies
- Looking at innovations in terms of new products and services
NO LONGER BUSINESS AS USUAL
A challenging economy, the threat to margins that commoditizing inevitably delivers, and an imperative to differentiate in unique and meaningful ways are each in their own way forcing organizations of all sizes to become more innovative in order to survive and prosper.
We were inspired to create this series based on research completed by our friends at Simple Truth, a Chicago based branding, marketing strategy and design firm. They appropriately dubbed their findings The New Innovation reflecting a significant shift in what innovation actually means in the minds of small-business owners. Simple Truth Uncovers: Six Takes on Small Business. It reveals that the economy has forced owners to become increasingly more innovative.
- 87% of small business owners say the economy has caused them to be more innovative with their business
- 72% are concentrating on creative solutions to existing problems
For small-business owners, innovation used to be about the development of new products, services, etc. Now, it’s about thinking in more adaptive and resourceful ways. While many talked about this shift as a consequence of meeting current economic changes, they recognized that innovating to solve problems and be more efficient ultimately made them smarter, stronger and more resilient.
The research found that a growing number of owners are also seeking innovative ways to:
- Adapt to changes in their marketplace: 69%
- Improve operational efficiencies: 44%
- Create new product/service offerings: 42%
DISCOVERING CREATIVE SOLUTIONS FOR EXISTING PROBLEMS
We’re beginning this conversation on Linked In with our first topic, Discovering Creative Solutions for Existing Problems. Here are just a few questions to get the ball rolling. Feel free to weigh in on any or all of these:
- What innovations have you brought to existing processes, products or services to gain a competitive edge?
- What was the inspiration or need to do so?
- How does you organization foster and nurture innovative thinking?
- What if any challenges did you face in winning buy-in from your team and how did you overcome them?
WHAT WE WANT TO ACHIEVE
Through Great Conversations: Innovation we want to engage business owners, their teams and all innovators who are interested in sharing valuable experiences and insights, in order to inspire and help others to boldly embrace innovation and excel at execution. It will help to make all of us stronger and more resilient in a time of economic insecurity.
We’d love to get your input so please join the conversation: Discovering Creative Solutions for Existing Problems
Jim Stoynoff, President, Synthesis Solutions LLC