Have to be new?
Does an innovation have to be new? No. An innovation can be taking an idea from one realm and transferring it to another arena. For examples, when my friend Dan Ferrise was president of Minnesota Prison Industries (where inmates manufactures furniture, docks and other things), he brought in the discipline of business plans from the private sector. In so doing, he transformed this organization from losing millions of dollars each year to making money. That made the taxpayers happy.
What innovation in another industry can you transport and make useful and profitable? Re-inventing the wheel is over-rated. Adapting and re-tweaking are under-rated.
Written by: Richard Brynteson