Serial Innovators and Entrepreneurs appear to be blessed. They aren’t just lucky enough to have a single right idea at the right time; they keep coming up with more bright ideas that make the world better, or at least are valued enough for a profitable business model. While innovation and market success do not always have a strong correlation, there are a few things the innovative entrepreneurs often have in common.
Be Adaptive to Change
“We cannot solve our problems with the same thinking we used when we created them.”
– Albert Einstein
Being adaptive to change is essential in our ever-evolving world of work and business for serial innovators and entrepreneurs. One must learn to be creative in their approach and consider new ways of thinking or they will never discover anything new. Don’t be afraid to look at things in a new way, even if it’s not the most popular. You never know what alternative perspective could become the next big idea.
Don’t Be Afraid to Make Your Existing Products Obsolete
Serial innovators look for opportunities to improve their own products because they’re aware someone else wants their business. If the customer is going to find a better product, ideally it should be from the entrepreneur’s own company.
Also Read : 5 Most Useful Mindset to Grow Your Entrepreneurial Spirit
It’s hard enough for a startup company to innovate over its own products, but even more difficult for large companies to do so. Once a product becomes a success, innovators or the organizations they build are not willing to endanger it. Instead of chasing dreams and betting the house on their new innovation and idea, they turn to incremental improvements and optimization of the status quo.
Encourage Innovation
Serial innovators and Entrepreneurs, particularly the ones who keep recreating their companies as well as their products and services, truly do encourage their people to try new things. There are many innovations today challenging businesses to stay competitive and be more productive.
Measure the promise of a new technology or process against your company goals. Examine how the change will impact your company’s existing processes, technology, and teams. Sell the change across the company’s ecosystem, from employees and customers to strategic partners and vendors. Make the transition slowly by introducing the new tech to only one department or product line.
Learn More : 10 Exercises to Develop Beginner’s Mind
For these serial innovators, the problem is never the idea. It’s how to get the ideas off the white board and onto the ground. For entrepreneurs in the end it’s about a repeatable and scalable business model and the ability to reinvent it. An entrepreneur and a serial innovator must learn to wear each other’s shoes to be more successful innovator and entrepreneur.
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