On Innovation

I never get tired of talking about innovation in all its forms. And neither should you. To me innovation is at the heart of the best investments I’ve had the opportunity to take part in—developments in sustainable practices like solar energy, biotechnology advancements … It’s new creations and developments in these and other fields that drive the future, and to me if you can discover where the future is bound, then you’re going to find out where the money is being made.

Innovation is also discovery on the level of your own business practices—that is if you want to see your business keep improving.

There’s a glib saying you might have heard that goes, “If it works, don’t fix it.” Frankly, as far as business mottos go it would be hard to find a stupider one.

There are some who feel it’s fine to sit back and just let things run their course, but for my money, if you have any ambitions of seeing your business go places, it demands that you strive for more.

It’s innovation that prompts you make changes before changes may even be necessary—ways and means by which you can increase productivity, streamline costs, foster improved customer relations, and generally move your business forward in a positive way.

In a broader sense, innovation works on a personal level as well. Whether we like to recognize it or not, there are characteristics and qualities that hold each of us back, even in minor ways. The saying that “Nobody’s perfect” isn’t just a trite slogan, it’s an enlightening fact if you stop and think about it.

And simply because nobody is perfect, there’s always room to find ways for improvement—or at least ways to work around one’s less constructive qualities and habits—provided you have what it takes to give attention to that kind of self inventory.

The upsides can be significant and prove profitable in every sense of the word. For example, if you have a short attention span, rather than letting it handicap you, you can find ways to let others in your business handle details you may not have the patience for. Or if, for example, you’re a numbers-cruncher at heart and don’t excel with some aspect of public relations, it’s in your best interest to find personable people who can step in and meet those needs for you.

The point is that, just like in your business operations or in technology at large, there are always going to be new and better ways waiting to be discovered. And while some difficulties may at first seem like roadblocks, innovation is the means by which all problems can ultimately be solved.

Accepting the status quo may seem easier, but it’s always going to drag you in the wrong direction. And whether it’s your business, your personal traits, or science and technology the world over, the power of innovation can fuel fantastic things.

Innovation comes in many forms and they’re all there just waiting for you to profit from them.