In my last post, I identified several road blocks to innovation.  In the information below, I discuss several ways to overcome these road blocks and use innovation in your business.

A first step to leveraging innovation in your business includes learning how to stimulate new innovation throughout your company.  This begins by teaching the importance of innovation to the business leaders in your organization.  Once they understand the business growth opportunities provided by an innovation strategy, they can share this knowledge with other employees in the company.  This approach leverages the creative thinking of people in all parts of the company and builds a valuable innovation culture.

As part of the innovation education process, show people how simple (yet valuable) innovation can be to the business.  Provide examples of successful innovations that produced dramatic growth to the company – whether it’s your company or other companies.

Encourage innovative thinking by rewarding individuals and groups that submit new business innovations.  These may include new product ideas, new product features, or modifications to internal business procedures that streamline operations.  Encourage brainstorming sessions and innovation contests to make the innovation process fun.  Celebrate the successful application of innovations in your business and show the positive results these innovations provide to the company.

To fully benefit from creative innovations, identify and evaluate all innovations developed in your company.  Provide a system for employees to easily submit innovative ideas and create a review committee to evaluate ideas and determine which innovations to implement.

Take a first step toward developing an innovation action plan by learning for yourself how innovation can boost your bottom line.