Innovation is the way to win

Hi there! Chris is here to show you why innovation is the key to success.

Here is a fact for you: 75% of the world’s CEOs rank innovation as a top three company priority (NY Times).

And why is it so important to innovate? Well, since the year 2000, 52% of Fortune 500 companies have gone under. That underlines a scary truth. It’s a complicated, competitive world out there folks! But those who dare to innovate can (and do) reap the benefits — they find solutions to problems and then they win over customers.

Now, here’s the rub. You can’t innovate for the sake of it. There’s no handy app to jazz up your brand! In fact, according to McKinsey & Company, only 27% of leaders feel their companies have learned how to innovate effectively.
For many, I suspect it’s a mindset issue. We often marvel about the ‘great innovators’ of our time – people like Elon Musk, Steve Jobs and Bill Gates – as if they have a magic ability we could never master for ourselves.

But you don’t need a spellbook to innovate. And innovation isn’t only for the great inventors of our time. Don’t set a barrier or limit your mindset.

Simply start by considering your customers’ aches and pains! From the smallest issues to the biggest conundrums. By using your customers as a compass, and visualising their problems, you are already knocking on the door of innovation.

After you walk in the shoes of your customers, it’s time to be collaborative – bounce ideas around with teammates and build on them. Get imaginative. Use both divergent and convergent thinking processes. Be curious and inquisitive – keep asking questions and keep looking again. Last but not least, be creative and use visuals : Doodle, sketch, draw. As the great writers always say, show don’t tell. Soon you will see solutions materialise before your very eyes. It might feel like magic but trust me, it’s not!

Remember what Albert Einstein said: “Insanity is doing the same thing over and over again and expecting the same results.” So is it time for you and your company to innovate?

Drop us a line and let us know how we can help.

Share this article

Want to see Design Thinking in action?

Download Reimagining Healthcare in Vietnam Whitepaper.