What is your IQ (Innovation Quotient)?

Dell Computer Company, Apple Computers, Microsoft, Google, and E-Bay share much more than only occupying space in the computer-sphere. Each of these businesses was founded by people who was not satisfied with the status-quo, who looked at the world differently, and constantly asked “why?”. These businesses not only started with an innovative idea but have thrived on continued innovation.

The December 2009 Harvard Business Review features innovation in business and published findings of research conducted over a six-year period. Among the interesting findings is that innovation starts with top person in a business. In the most innovative companies the CEO personally spends 50% more time innovating than leaders of other businesses.

The study determined that the most innovative people have these skills:

1. They are good at connecting-the-dots – associating diverse ideas

2. They are curious and constantly questioning and asking why.

3. They are keenly observant of the world around them.

4. They are constantly experimenting and conducting mental exploration.

5. They network with other individuals to test their ideas and get insight.

Like all skills these  are partially “genetic” but to a large extent can be learned and honed through continual practice. Leaders who are concerned about growing their businesses or even just surviving should look at developing their own innovation quotient and fostering innovation within their companies.

Will Limkemann
www.siqualtd.com

Low-tech successful innovation

I first met Leon Yulkowski roughly seven years ago. He was recovering from hip surgery but wanted to give me a tour of his factory, Total Door Solutions in Pontiac Michigan. Although I considered myself healthy and he recently had undergone hip surgery, I was barely able to keep up with Leon as we moved from department to department.

Leon was both physically and mentally hyperactive, as I image he has been his whole life. He is a true entrepreneur who started a lock company in 1950. After selling the business to Slage, he invented a unique door system and started Total Door Solutions. Rather than just creating a door and incorporating hardware from many sources, his factory designs and builds doors integrating unique hardware created by his own plant. I don’t know how many patents he’s credited with but there are many. At the time of our interview he was making ten to fifteen patent applications per year!

Leon came to mind when I recently came across an article that his company has bought an old department store in Pontiac and is spending $3.25 million to turn it into a state-of-the art new factory. Leon is not a young man. While his daughter is listed as general manager, Leon is still listed as CEO and I can imagine that he is still innovating.

His is the kind of innovative and entrepreneurial spirit that is so very keen in turning around our old industrial cities into robust centers of innovation and employment. His is not a glamorous businesses of electrons and biology. His is a very practical nuts-and-bolts type of business with products needed by every architect and builder. While so many government leaders concentrate on encouraging and promoting high-tech businesses (many of which are also high-risk), they might do well to take a close look at attracting, encouraging, and financing practical low-tech manufacturing companies that offer innovative solutions and products.

Will Limkemann
www.siqualtd.com

Innovation

How innovative are you? Now, more than ever, businesses need to innovate – find new markets, develop new products, find more efficient methods of production and delivery.

With belt-tightening, there is less disposable income and people are spending less for luxury items. If you have been selling to a luxury market, think of ways to innovate to add necessities to your line of luxury items. What can you sell that people need rather than just want? Can you satisfy needs and wants at a lower cost?

With innovative thought, the core competencies, skills, and talent that lie within your firm can be redirected to produce goods and provide services that may be in more in demand than products that have faltering sales. If your bicycle shop sells high-end mountain and racing bikes, add a line of low-cost bicycles and advertise them as low-cost, low-carbon, transportation alternatives. If you design, sell, and install high-end kitchens, consider adding capabilities of doing less-expensive cabinet refacing.

Whatever your industry or business, innovation can carry the day and may mean the difference between keeping your folks employed or closing the doors.