Every successful business needs to innovate to achieve and maintain a competitive advantage in today's ever-changing industry. Innovation is the key to advancing and growing your business and ensuring your customers keep coming back for more. But if we know innovation is so important, why do so many companies struggle to successfully innovate? In most cases, the problem lies in one or more of these 5 innovation killers.
1 You're unwilling to take risks
There can be no innovation without risk, as risks are inherent to change. However, large risks can yield large rewards and its important to consider the benefit of taking risks. Companies which don't take risks cannot grow and change rapidly enough to meet the fluctuations in the industry, predominantly due to lack of innovative risk-taking.
2 Innovation isn't a priority
To innovate, your business must be committed to prioritizing innovation, otherwise, it will end up on the back-burner and never be realized. Prioritizing innovation in terms of finances, time, space, and even in hiring practices can be essential to success.
3 Your team is not trained to innovate
This can be an issue with your training or hiring practices. You cannot expect an inexperienced team to successfully innovate without training or leadership in the field. Provide training opportunities such as conferences, lunch & learns, or other learning materials to help your whole team understand innovation, and ensure your managers and supervisors are experienced in innovation as well.
4 Your team has no time to innovate
If innovation is a priority, you have to make time for it. Your team cannot possibly innovate if their entire schedule is filled with maintaining the current course of the business. Scheduling time for innovative teams to work towards innovation, or to allow for flexible use of time in which teams can prioritize needs as they see fit, will help to allow your team to innovate more successfully.
5 Your team has no space to innovate
If you want an innovative solution to your warehouse management, your team needs space to discuss and think it over. Having a team try and meet in the center of a crowded and bustling warehouse isn't the ideal location for creative thought. Instead, make space for your innovation teams to work, be it an office, boardroom, or simply breakout tables where they can meet without being in the way of other operations.