Your business may be bringing in profits and doing very well for itself.
But how can you take your organization to its next stage of evolution...not to mention beyond?
Oftentimes, it’s about changing the business model—which is, obviously, not a small feat.
One of our customers is a services company. Its core business is solving problems: simply put, their technicians visit customers on-site, identify issues, and fix them.
Now, the CEO is looking to evolve the company’s business model. How? By encouraging employees to approach problem-solving in a way that will eventually lead the company to become a product- as well as fee-for-service-based business.
This savvy CEO knows that problem-solving can only get his business so far.
And that’s because problem-solving is not the same as innovation. As I wrote in a previous blog post, problem-solving is more about reacting to a specific situation; while innovation is about being proactive — focusing on new opportunities, improving performance, raising the bar, and breaking through the status quo.
Think about it. Our customer’s technicians could simply continue doing back-to-back site visits as per usual. Or, they could create a product that allows their customers to fix problems on their own—lessening the frequent need for site visits, opening up technicians’ time to take on more clients...and, ultimately, increasing profits for the company.
To remain competitive, transformative innovation is key. Put simply, it’s about looking at things differently: not about keeping our heads down while solving problems, but looking up to see all the opportunities that exist.