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What's On Your Company's Innovation Wall?

February 19, 20245 min read

If you had a wall in your business that featured all of the new innovations you had rolled out over the previous five years, what would be on that wall?

Great businesses intentionally innovate. Innovation drives growth in revenue, profit, customer satisfaction, and employee retention.

Great leaders tell stories. One of the best ways to tell stories is by featuring them on a wall of fame–your innovation wall.

Imagine walking into your business and seeing a wall of new ideas that have been created and implemented in your company. Pictures of new products and services. Graphics of innovative go-to-market strategies. Stories of customers talking about how they were impacted by your novel customer experience ideas.

What could an innovation wall do for your business? Here are a few ideas:

Develops a Culture of Innovation

Many businesses have a company value related to innovation. However, values need to be translated into culture. A wall of innovation tells everyone in the company that new ideas are celebrated. It provides a living demonstration that new ideas create progress which creates opportunities for everyone in the company.  It serves as a constant reminder of the value the organization places on innovation, inspiring employees to think outside the box and come up with new ideas.

Creates Competitive Advantage

Potential customers and employees have a choice. When they see a company that does more than pay lip service to innovation it can tip the balance. All things equal (and in the eyes of potential customers, they usual are) prospects may choose the company that demonstrates innovation. Similarly, in a competitive job market, top candidates may be inclined to go to work for a company that demonstrates that it cares about new ideas.

Fosters a Sense of Ownership

Many entrepreneurs I have talked with over the years wish that their employees had more of an entrepreneurial spirit. When employees see their ideas being celebrated and implemented, it fosters a stronger sense of ownership and engagement with the company. This can lead to increased loyalty, lower turnover rates, and a more motivated workforce.

Imagine the benefits of a culture of innovation that creates competitive advantage and fosters a sense of ownership. It all begins by valuing innovation.

Every company should have a wall of innovation. There are no limits on innovation. Small businesses, medium-size companies, small enterprises, and Fortune 1000 companies can all benefit from discovering and developing new ideas. Best of all, the benefits of innovation are measurable:

  1. Increased revenue from new/enhanced products and services

  2. Increased growth from new go-to-market strategies

  3. Increased client retention with improved client satisfaction

  4. Increased profit with streamlined systems and processes

If you would like to discover how to unleash innovation in your business, I invite you to schedule a free 90-minute Briefing with a Strategic Innovation Guide. Before we meet I'll send you a copy of A Visionary's Guide to Strategic Innovation so you can see how you could become a 3D business and avoid the risk of stagnation.

Imagine walking into your business and seeing a wall of new ideas that have been created and implemented in your company. Pictures of new products and services. Graphics of innovative go-to-market strategies. Stories of customers talking about how they were impacted by your novel customer experience ideas.

What could an innovation wall do for your business? Here are a few ideas:

Develops a Culture of Innovation

Many businesses have a company value related to innovation. However, values need to be translated into culture. A wall of innovation tells everyone in the company that new ideas are celebrated. It provides a living demonstration that new ideas create progress which creates opportunities for everyone in the company.  It serves as a constant reminder of the value the organization places on innovation, inspiring employees to think outside the box and come up with new ideas.

Creates Competitive Advantage

Potential customers and employees have a choice. When they see a company that does more than pay lip service to innovation it can tip the balance. All things equal (and in the eyes of potential customers, they usual are) prospects may choose the company that demonstrates innovation. Similarly, in a competitive job market, top candidates may be inclined to go to work for a company that demonstrates that it cares about new ideas.

Fosters a Sense of Ownership

Many entrepreneurs I have talked with over the years wish that their employees had more of an entrepreneurial spirit. When employees see their ideas being celebrated and implemented, it fosters a stronger sense of ownership and engagement with the company. This can lead to increased loyalty, lower turnover rates, and a more motivated workforce.

Imagine the benefits of a culture of innovation that creates competitive advantage and fosters a sense of ownership. It all begins by valuing innovation.

Every company should have a wall of innovation. There are no limits on innovation. Small businesses, medium-size companies, small enterprises, and Fortune 1000 companies can all benefit from discovering and developing new ideas. Best of all, the benefits of innovation are measurable:

  1. Increased revenue from new/enhanced products and services

  2. Increased growth from new go-to-market strategies

  3. Increased client retention with improved client satisfaction

  4. Increased profit with streamlined systems and processes

If you would like to discover how to unleash innovation in your business, I invite you to schedule a free 90-minute Briefing with a Strategic Innovation Guide. Before we meet I'll send you a copy of A Visionary's Guide to Strategic Innovation so you can see how you could become a 3D business and avoid the risk of stagnation.

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Darrell Amy

Darrell helps generous entrepreneurs build engines to grow revenue so they can give more. He is the author of Revenue Growth Engine: How To Align Sales & Marketing To Accelerate Growth. In addition to serving as a Forbes Business Council Advisor, Darrell is a keynote speaker and regular podcaster.

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