Innovation: The Lifeline of Business

Innovation is often reduced to a buzzword, but it’s crucial for an organization’s survival. In the same way that oxygen is essential to human life, innovation keeps businesses thriving. At its core, innovation is about taking a fresh approach—choosing to do things differently from others in your field. The rewards for daring to stand apart can be significant.

Take The One Minute Manager as an example. When Spencer Johnson and I wrote the book, we broke several conventional rules in publishing. We wrote a business book as a parable, something that hadn’t been done before. We also kept the book only 100 pages long—far shorter than what was considered acceptable at the time—and priced it like a full-length hardcover. Publishers predicted it would fail.

But they were wrong. After Spencer and I appeared on The TODAY Show, the book hit The New York Times bestseller list and stayed there for two years. It became one of the best-selling business books ever, and our innovations paved the way for a new wave of business authors.

Investing in Your Organization’s Future

Innovation isn’t easy. It requires time, creativity, and a willingness to experiment and test new ideas. It’s easier to follow the crowd and replicate what others are doing, but that approach risks leaving your business stuck with outdated products, services, or strategies.

One way to ensure your organization stays relevant is by embedding innovation into your structure. A great example is the “Office of the Future” that my wife, Margie, established when she was president of our company in the early 2000s. This think tank studied trends five, ten, and even twenty years ahead, guiding our leadership decisions.

When the COVID-19 pandemic struck, we were prepared. Thanks to the foresight of the Innovation Lab (formerly the Office of the Future), we had already invested in digital technologies and online learning platforms. This proactive approach helped us weather the pandemic’s disruption when traditional classroom training was no longer an option.

Leaders should be careful not to over-allocate resources to sales and marketing at the expense of research and innovation. While these efforts may not show immediate returns, they are essential for the long-term survival of the company.

Encouraging a Culture of Innovation

The most successful companies—Apple, Tesla, Amazon—foster a culture where innovation is not confined to a select few. In an innovative culture, everyone is encouraged to contribute ideas, regardless of their job title.

The truth is, people want to use their brains at work, not just their hands. Yet, too often, leaders stifle creativity by imposing rigid systems and micromanaging processes. When you hire talented people, your role is to create an environment where they can thrive, not to control them.

As Steve Jobs said, “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.” So, when one of your team members presents a new idea, embrace it. Help them think through the risks and rewards, and if you decide to move forward, measure the results. Even if the idea doesn’t succeed, celebrate the effort and the lessons learned.

Innovating Continuously

No matter how groundbreaking your product or service is, it won’t stay relevant if you don’t keep innovating. When The One Minute Manager was first published in 1982, it was revolutionary in the world of leadership. However, by 2015, some of its concepts, like The One Minute Reprimand, no longer resonated with the more collaborative, partnership-driven leadership style of today. So, Spencer and I updated the third secret to The One Minute Re-Direct and reissued the book as The New One Minute Manager.

Ask yourself: What in your current work, products, or processes could benefit from a fresh approach? Don’t hesitate to innovate—continually evolve to stay ahead.

Editor’s Note: Want to learn more about fostering a culture of innovation in your organization? Discover Blanchard’s Fearless Innovation™ program

on our website:https://blanchardinternational.co.in/