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The Importance of Generating New Ideas
Why is generating ideas so difficult? Why have them? We all know a great idea can be worth millions so how much time do you spend on improving your business with new idea generation?
We know the only constant in business is change and we are often told about how to be more adaptable and to be more flexible. Some favourite old cliches come to mind. "Now guys, let's be creative!" or "You must think outside the box!"
Then we sit there looking at each other waiting for someone to come up with the magic answer to our problems. It is very difficult to sit back and suddenly put ourselves in a different creative mindset at the click of a switch.
Too often those old cliches are rolled out by the impartial observer with no vested interest in your business . Being in the hot seat is very different as there are implications for all the decisions that we make.
BUT just as in nature, being adaptable is critical for survival and growth in your business. A caveman will not survive the winter if he does not learn how to create fire or develop the arrow to hunt faster moving prey.
Famous Examples
Famous examples in the commercial world are the buggy whip companies in the early 1900s which did not take advantage of the opportunities in the motor vehicle industry and more recently the CD music stores that collapsed because they did not have strategies to cope with on-line music. Both acted like ostriches with their heads in the sand.
Like it or not, creative solutions are always required. We are all guilty of being the technical expert that started our companies years ago but simply have not kept up with the times. So we must take ourselves out of the mindset that we know best and feel comfortable with.
What about those that DO succeed? One example is that of Sharp Electronics which struggled in the 1990s to keep pace with its Japanese consumer electronic competitors. They had better quality and were more efficient. Sharp's core competency was the digital LCD technologies, so they adapted by focusing their business on what they did really well and sold their LCD screen componentry to their competitors.
Do not become emotionally involved
One key message is not to become emotionally involved with your products or services. The emotional attachment will blind your thinking into what is possible and restrict your thinking. Sharp understood that to survive and grow they needed to quit certain lines they had developed and marketed for many years and focus on generating profitable income as a component supplier.
As for us, just because we have done business this way successfully in the past is no excuse for deciding how we will be more competitive in the future. There is little rationale here.
Where and how to generate ideas?
Nobody has a monopoly on good ideas. Don't assume that that your team members do not have them or are not capable of generating them. It is all about creating the right environment. Here are a few suggestions:
Firstly, you and your team must develop a positive attitude to change and an acceptance that any crazy idea may lead to a workable one. Give them some examples of how companies have changed radically using some creative ideas like Shell Oil learning how to drill for their horizontally yielding another 20% for the same setup cost or how HushPuppies Shoes tapped into the alternative market to rejuvenate itself and become a brand leader once more.
However, you must create a safe environment to let the ideas flow. Everyone must feel secure in putting forward proposals and crazy ideas. Everyone must feel free to challenge positively without repercussion.
Secondly, prepare a brief on the challenges and issues for each area you want to discuss
Thirdly , set an agenda that simply says 'ideas sessions' followed by 'very different ideas session', followed by 'critical analysis session'.
Fourthly, get your team out of their normal environment which restricts their thinking. Take a day out somewhere completely different.
Set some parameters about expectations and meeting rules and then go for it!
As the business leader your main role is to listen and provoke. Let the ideas role out and explore each one. Often the expectation is that the leader is responsible for coming up with the new idea. Communicate to the team that generating new ideas is everyone's opportunity.
Consider using an outside facilitator, mentor or adviser to run the session. They can come in with completely different unbiased viewpoints stimulating new thoughts and challenging basic assumptions.
Don't forget, a new idea can be worth millions! Happy new idea generation!
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