Innovation often birthed by mix of creativity and problem-solving

Editor’s note: Michelle Stockman is an independent consultant with her company, Fort Smith-based Msaada Group. Stockman earned a bachelor’s degree from Loyola University-Chicago in communications and fine arts, and earned a master’s in entrepreneurship from Western Carolina University. Her thoughts on business success appear each week on The City Wire.

Innovation is an assumed function of an entrepreneurial business. While the two disciplines have natural ties (as innovation has led to birthing entrepreneurial businesses), innovation is a standalone exercise often assumed to only be related to entrepreneurship. While entrepreneurship is commonly known as starting or growing a new business entity, innovation often seeds the new organization. However, innovation occurs in just about any place where creativity and problem solving join together.

If innovation is the mustard seed to growing new business, what really is innovation? By definition, innovation means “to renew or change.” In this knowledge era, innovation has moved beyond the mad scientist mentality to main stream conversations. As companies large and small race to develop the newest, fastest widget in the world, new technologies and tools have allowed “average” people to engage their imagination to solve some of our smallest to largest problems.

From finding a new use to last year’s sweater to retooling your worn tires for an afterlife, the push for greener, leaner and meaner products have spawn the birth of countless new businesses. Some of those new innovations have been bought out by larger less nimble companies, while other innovations reached the market at the wrong time.

Entrepreneurs by gross necessity often rely on the need to be innovative simply to start a company on a budget that would make a college student seem rich. Maintaining an innovative edge allows companies to build their competitive advantages thus growing or keeping their market share.

Where does innovation come from? Innovation comes from brain storming solutions to problems, asking customers questions on their needs, solving problems with the newest tools available, creating new tools and more. Seth Godin relates the following tips on where ideas may live:

• Ideas sometimes come from listening to a lecture.
• Ideas often come while reading a book.
• Good ideas come from bad ideas, but only if there are enough of them.
• Ideas occur when dissimilar universes collide.
• Ideas come in spurts. Willie Nelson wrote three of his biggest hits in one week.
• Ideas come from trouble.
• Ideas come from our ego, and they do their best when they’re generous and selfless.
• Ideas come from nature.

Innovation is very much like a child who wonders at the world. Silence the chatter around and within you to hear the whispers that turn ideas into innovations into businesses. Try solving the problems that you have or hear about, think of better ways to do “things” and never give up on finding the solution, then you’ll find a place where innovation thrives.

It is no secret that only a few ideas see outstanding success. However, innovation is more than just seeking the instant pot-of-gold. Innovation is empowering, exciting and awakens dreams.

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Stockman can be reached at [email protected]