Creativity, Innovation and Entrepreneurship With A Lemon Twist
Innovation
The Adjacent Possible
Innovation is about opening up the space of unexplored possibilities that arise along the edge of the actual and the possible.
Things that are easily imagined and expected.
This interplay of the actual and the possible seem to follow predictable and easily measured patterns.
Both desire and problems trigger expansion of the space of unexplored possibilities. The adjacent possible predict how innovation appears in the real world. In essence the adjacent possible is the pattern behind the way we discover novelty.
So why is innovation hard?
It’s not hard to innovate. Just change a few dots of the existing pattern and something new will emerge. This process of pattern disruption is fundamental to novel discoveries. What is hard is to create value from this novelty.
The bigger question is how a process, device or method can be improved to deliver more value? Innovation, in the context of entrepreneurship, is the process that turns good “ideas” into tangible customer value.
Strategic innovation considers both the internal goals of the organization and its external goals to maximize the opportunities for winning in the marketplace. Innovation viewed from a strategic perspective helps to define and align with the winning aspirations of your enterprise.
Creating customer value is your most important job. It is the key to sustainable success. A carefully crafted strategy aligns your innovation initiatives with your Strategic Business Objectives (SBOs). This strategic alignment can go along way in ensuring long term success. It will provide a clear path to understanding market needs and improve both product and process innovations.
For our purposes, a market is defined as a set of related customer needs Problems define markets. Therefore, your deeper understanding of your customer’s problems leads to improved understanding of these market needs. Problem space thinking leads to a better understanding of your customer pain points.
Continuous value creation is the way.
Your startup or enterprise must be highly skilled at value creation to be able to sustain itself. It all begins with your ability to innovate and deliver that value at the right time and at the right price. You need an innovation framework that is both strategic and novel. It must capture the imaginations of your customers and inspire them.
