The Art of Innovation Part 1

...or maybe it's Rules. Either way, as the world economy continues to pull G's like a demented Switch Back, here's some Peter Drucker inspired tips to keep your innovative pursuits focussed and fruitful.


(Because like it or not, innovation creates wealth. Period.)


1. Build something that you want use/buy/have/see in the world: The idea that great innovation is the work of visionary entrepreneurs is, well, rubbish.  A more accurate theory is that people create things that they want to buy or use. It's not about being visionary. So if you want to be innovative, start with creating something you want to use.


2. Make meaning: Great innovations enable people to do old things better; do things they always wanted to do, and do things they never knew they wanted to do. Solve an existing problem, or better still, solve one that no-one knows exists yet. If it means 'something', it's got wings. 


3. Jump the next curve: If you're going up against a busy curve, chances are your enthusiasm, or cash flow, will run out before you see black numbers. True innovation plays out when you jump to the next curve - or better still, invent the next curve and ride it until the line gets to busy. Then jump to the next one. (Here's to my good friends at Virtuzone. They pole vaulted the curve and now lend countenance to countless others trying to do the same. And yes. It worked phenomenally)


4. Don't worry, be LTP: The first version of any new innovation is, by definition, work in progress and should, by unwritten law, have an element of an element of Less Than Perfect about it. If you wait for it to perfect, chances are the market will pass you by. 


5. Ship, evolve, reship: Staying LTP however, isn't cool. "Innovation is not an event, its a process": (Guy Kawasaki). Once you have shelf life; evolve, tweak, improve, update, expand. Welcome complaints and feedback from your stakeholders and customers. Yes,  it's always hard to field low blow's against your new born.  But one of the most powerful lessons for bootstrap innovators is to seek and welcome criticism...it's the fuel that keeps you curve jumping.


Part 2 to come....