What's the price of innovation?
Every day at 5 am Natalie Freel runs. It does not matter if it rains, if she gets out of bed and does not feel like moving or if she is the only person on the 5 mile track. In fact, she likes her run solitary. Being alone forces her to rely on her strength to get her through an activity which 2 years before she never would have been able to do.
“I must be the slowest runner on the planet,” she laughs, “but I really like it considering that I was in such poor health, I could barely take two steps without passing out.”
Natalie was once severely asthmatic. A change in lifestyle, treatment and location allowed her to become a better manager of her health. Adversity, she found, was her best teacher. And after years of feeling sorry for herself and living inside a zone she felt uncomfortable leaving, Natalie began to think, adapt and make a plan. She was forced to innovate and she became healthier for it.
It’s not a far stretch to say the same goes for a sinking economy and the entrepreneurs who find themselves struggling to survive. If there is a lesson from Natalie’ personal story it is that tough times can create opportunities and fresh beginnings for those who can change their attitudes and actions, for those who can innovate.
For those who are used to business as usual, innovation in the times of economic free fall is perplexing. What can we innovate? How much does it cost? Do we need to get someone to lead the process? It turns out you don’t really need any of the above. Innovation means finding ways to be remarkable. It means rethinking what you are doing and looking at your industry with new spectacles. The solutions though must be applied to everyone, everything and everywhere in the company and the process must go on, non-stop.
I have seen innovation turn companies (local and global) into ideas-to-action factories able to compete only on imagination ingenuity, inspiration and initiative. I have more examples of this than I have space to write: Starbucks. Toute Bagai Publishing. 3M. Lucent Research.
In one company that I know every single employee in every single department are mandated to get together and share information on books they have read, conferences they have attended, papers they have poured over. To me, this is brilliant because it promotes a learning environment and also a space for employees to sit down and reflect, brainstorm and play around with new ideas. These are all important ingredients in the innovation process.
Over the past months, we have all responded to the recession with fear and pessimism that has been largely unchecked by a historical perspective. Those fears are as real as the doors we lock or the doors we open. For businesses, a recession may be a time to close marginal operations and improve attention to costs and excess, but it's also a time to reinvent strategy, to drive the most talented to come up with better ways of doing something, to listen more deeply to customers and to look in new directions and set sail, albeit a bit more deliberately.
Listening to all the terrible economic news, it's hard to imagine that we will pull through but we will. History tells us that. Those businesses who are taking the time to innovate are the ones that are being prepared for the future. And just like Natalie, it will be a journey undertaken one step at a time.
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