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True innovation, something that is truly unique, can fundamentally change an industry and in the world of competitive tendering, this can mean the difference between winning and losing.
There are 10 key points on how to innovate. True innovation is not about doing the same things better, faster, cheaper. It is about pioneering a new industry, one that completely re-writes the ball game.
Make meaning
Companies that ask questions such as “Shouldn’t there be a better way?” or “Isn’t it interesting that…?” solve problems that create meaning in the world.
A company won’t make money without having a meaning or purpose. Fail is inevitable without purpose. Because of this, it’s important to let people, consumers, everyone, share your product or idea.
Write a mantra
Companies should do away with long, jargon-ridden — and ultimately generic — mission statements in favor of three-word mantras
For example:
Nike
AUTHENTIC, ATHLETIC, PERFORMANCE
or,
Fedex
PEACE OF MIND
Jump to the next curve
If companies were more forward-looking, their demise would become less likely. This does not mean switching industries; it means delivering the same benefit through different mechanisms. True innovation happens when a company jumps to the next curve – or better still, invents the next curve, so set your goals high.
DICEE
Great products have specific aspects: deep (lots of features), intelligent, complete, empowering and elegant
Get shipping
Being first to create and innovate means there might be elements of being “crappy”, and that is okay. All products will have kinks and imperfections; this leaves room to create a newer and better version (which means more money).
Let flowers blossom
Despite best efforts at branding, marketing or advertising, a company sometimes attracts the “wrong” customer. Instead of worrying, ask those people why they are buying the product, or why they are using it in a way other than the company intended. That can lead to a new direction or a new life for the company.
Ignore the haters
You can love or hate products, but you cannot be afraid of being hated. Don’t be afraid to create something that might annoy a niche audience, go for it!
Churn, baby, churn!
To be an innovator, you need to be in denial. This means that as soon as you ship a product, you need to begin changing and evolving the product.
Marketing is simple
Companies should measure their products or services on their uniqueness and value. It is OK to be low in uniqueness if you are high in value, because then you can compete on price. But it is best to be high in value and in uniqueness, because then you can charge a premium.
Perfect your pitch
If you are an innovator, customize to your audience. You can do this successfully by understanding your audience. Also keep in mind that there should only be 10 slides presented in 20 minutes, and use 30-point size font.
