Research is the transformation of money into knowledge. Innovation is the transformation of knowledge into money. Ever wonder about missed opportunities? Ever feel those nagging worries that a critical bit of market knowledge was overlooked? Innovation isn’t easy. It takes vision, strategies, tactics, resource allocation, delegation and choices of outsource providers.
Perhaps the most subtle yet profound questions lie in our personal innovation paradigms. What is innovation, anyway? Where does it apply? Do we have to walk the bleeding edge? How can we justify the costs and risks? For many entrepreneurs, the innovation paradigm is all about products. What, then, about entrepreneurship as the innovation of businesses? Does that count? Radical innovations open up new markets. Can we actually innovate a market? We live in an age when new industries spring up like dandelions. Is it possible to purposefully innovate whole new industries?
Looking inside… can we innovate our own mindsets? Our paradigms?
For NIIC the measure of success is: Impact: Profitable market disruption per dollar invested. Impact demands that we leverage every resource to initiate and sustain disruptive market change that delivers the greatest possible opportunity, advantage, and wealth. Are you ready for that?
Through the Center for Entrepreneurial Excellence (CEE), the Northeast Indiana Innovation Center (NIIC) provides clients with “Comprehensive Business Assistance” that helps entrepreneurs develop strategies and plans that address the risks waiting to cause their venture to fail.
Creating a company is complex, yet straightforward. Innovating a company is much less obvious, yet delivers powerful advantage. Creation performs mechanics such as incorporating and organizing. Innovation designs customer satisfaction around clear, distinctive value promises. Creation, then, is about the business. Innovation is about serving customers. Creation establishes an entity. Innovation establishes commitments. Creation is completed early. Innovation is the life of the ongoing business. Creation enables receipt of money. Innovation enables wealth.
Where should you put your energy? Ask where you will get your greatest return on investment. With creation, you will have a company. With innovation, you will have a vehicle for changing the world with your specific ideas and knowledge.
Creation is essential, yet experts can get it done right and done quickly. Reserve your own energies for innovation. You are change agents. You can do what no one else has ever done. Anyone can create a business. Only you can change what is possible.