The companies I work with are usually B2B, knowledge-based companies (such as professional services firms) that are trying to develop new technology-enabled products—something outside their core product set. To do so requires them to think differently about how they work and how they create value for their customers.
It requires innovation.
I’ve come to learn that innovation can be tricky, and it takes hard work. It's not because the leaders are not visionary, or the team isn't creative or smart. Nor is it because the company culture is stagnating or stifling. It's because, as humans, we tend to favor the routine, the known, the comfortable. Innovation often takes us outside our comfort zones and it certainly almost always requires behavior change. So, rather than suggesting genuinely new ideas, we suggest ideas that we have seen work elsewhere. Or we turn to gimmicks that we think will make us more innovative. For example, “The right business process tool will help – let’s ditch Asana and start using Notion!” Or, even worse, we imagine that adopting open floor plans and bringing in a ping-pong table is what we need to get our teams to think more creatively.
In my experience, and the research supports this, making our companies more innovative requires 1) organizing for innovation, 2) upskilling our people, 3) adopting a disciplined process, and 4) establishing clear and aligned priorities. Here's what I’ve learned about how each of these elements can build an organization where ideas flourish and new revenue growth is possible.