BIG thoughts for small businesses

WE all recognise that innovation is important – yet recent research shows that most companies are really BAD at it. Biggest problem is fear of failure!

Step No1 is ensuring that you foster a culture of innovation within your organisation. Innovation is not merely a strategic choice but a fundamental necessity if you are aiming to thrive in 2024.

1. Remove the Fear Factor:

Research shows that three fears hold back innovation more than others: fear of criticism, fear of uncertainty, and fear of negative impact on one’s career. Work on actively removing this thinking! 2. Show Commitment: Leadership plays a crucial role in shaping the culture of an organisation. When leaders actively champion innovation, set the tone, and lead by example, it creates a foundation for a culture that values and encourages new ideas.

3. Clear Communications:

Clear communication articulating that innovation is a priority and embedding it into your values, helps create a collective mindset focused on innovation.

4. Create a Supportive Environment:

Fostering a safe environment where people feel encouraged to take risks, share ideas, and learn from failures is crucial. Erase the word ‘failure’ from your innovation.

5. Encourage Collaboration:

Collaboration is key to innovation. Promoting crossfunctional teams enables diverse perspectives and expertise to come together. This diversity sparks creativity and enhances the potential for innovative solutions. 6. Recognise/Reward Innovation:

By having incentives and acknowledging people for their innovative efforts, you can create a positive feedback loop that encourages a continuous flow of creative ideas.

Information kindly donated by www.thinkers.co.nz

Information in this micro-training sheet may be abridged and therefore incomplete. This information does not constitute and should not be considered a substitute for appropriate professional advice .