How to maintain focus on innovation during times of transformation?

How to maintain focus on innovation during times of transformation?

Innovation has different connotations nowadays, so there are difficulties in maintaining focus on this valuable business strategy.

In simple terms, innovation refers to the modification of existing elements in order to improve or renew them. In the business world, a focus on innovation makes sense when there is a convergence of cost reduction and increased sales.

In this convergence, problems are solved, efficient commercialization is achieved, positive financial results are obtained, and a "new state of equilibrium" is achieved, as proposed by Harvard economics professor and economist Joseph Schumpeter in his books, the Theory of Innovations and the Theory of Economic Development.

Innovation is not something new, we constantly live with it, as it arises from the generation of ideas and the use of creativity. However, it has become difficult to maintain a focus on it, due to multiple "derived solutions" as I personally mention, to the distractions of innovation. So, how to maintain focus? I propose some practices for this purpose.

  1. Constantly learn and stay updated: In the era of transformation, knowledge is a valuable asset, so knowing about technology and trends provides added value to maintain the correct focus. This will enhance your critical thinking.
  2. Experiment: Lose the fear of failure, being an "early adopter" in your environment will allow you a wide margin of action so that you can develop the best ideas and projects.
  3. Strengthen your creativity constantly: Attend events, listen to talks, podcasts, travel, meet people, converse, surround yourself with people who inspire you, constantly step out of your comfort zone, and your creativity will be exercised.
  4. Learn from frameworks and methodologies: After going through points 1 to 3, here I recommend using the "derived solutions" mentioned earlier, knowing tools that strengthen creativity and implementation such as Design Thinking, Agile, Lean, SCRUM, can be useful to develop the right ideas.
  5. Digitally transform intentionally: Today's world requires digital skills to have an impact, even when ideas do not depend on the digital realm (watch out for this), developing adequate digital intelligence will be very useful if you want to innovate.

Once you have intentionally accomplished the above, take action, that is, get to work on developing what you have in mind, measure your success and evolve. Practicing this constantly will lead you to that spiral of growth required by innovation, as well as becoming a person who sees opportunities where others only see problems.

So, maintain focus, change your mindset, and develop your innovative potential.