CEOs say this is the Most Important Factor for Growth
One of the keys to success is the ability to create new ideas, new solutions, or even new ways to tackle an issue that no one has ever thought of before. In short, innovation is key to your success.
Over the last several years, I’ve had the opportunity to take part in new, exciting innovation having to do with solar energy and biotechnology – areas where creativity and new developments can change the way we use energy, or even how we live.
The opportunities presented are exciting, life changing.
Even the investing potential in such areas is tough to ignore.
Such innovative spirit allows us to see, understand and solve problems in creative ways, ways that perhaps no one else has thought of. The cars we drive, the computers we use, the technology that’s driving our future were all birthed by those with passion and innovation.
It’s tough not to spot opportunity for new innovation.
For example, look at the water infrastructure issue in the U.S. at the moment.
Right now, the U.S. alone consumes 42 billion gallons of treated drinking water every day, according to the American Society of Civil Engineers (ASCE) 2017 Infrastructure Report Card. Yet, six billion gallons are lost because of leaking pipes because of faulty infrastructure. Any company with an innovative solution stands to do quite well with that.
Innovation also exists in random and unpredictable events that many of us never consider. For example, what happens if the Internet goes down for a month. That's not likely to happen, but let's use it as an example. How would we, as a consumer or Internet-dependent company, solve that issue with immediate innovative efforts?
We can even flow with advances in technology.
Look at the Internet of Things (IoT) for example, which is creating a connection and sharing of data between digital devices. Everything from household appliances and automobiles to even jet engines are being impacted. That alone is creating wildly exciting new business models and revenue streams for new business startups, entrepreneurs and established companies. New innovation there is driving the future, and making smart innovators millions.
We can even find innovation as companies responds to new customer wants and needs. Increasing consumer expectations and their choices are forcing companies to become increasingly consumer-centric through innovative change.
In doing so, a company is providing further positive customer experiences before, during and after a transaction to ensure repeat business.
Innovation can even be disruptive to industries. Can you even imagine a world without your iPhones, computers, or even being able to talk to your car?
Innovation disruption made that possible.
In short, innovation is key to your success. Dream big with it. Change the world.