By Roger La Salle
In Australia in particular, low interest rates together with huge population growth (mostly from immigration) is fueling a housing boom. Coupled with unrestrained State and Federal Government infrastructure spending, it seem the “music may never stop”.
If your business is not in boom times then it’s time to look closely at your business strategy, your marketing and how you are applying innovation to cash in on this boom.
Old but true
There is an old saying in business:
“Nothing happens until you sell something”
Though this may be obvious, it’s so often overlooked by companies inspired by the concept of innovation. They move into new and innovated products with great enthusiasm only to find at the end of the day, there is little market interest.
This all “flies in the face” of another saying so often used to inspire innovation:
“Built it and they will come”
Unfortunately, nothing could be further from the truth.
What’s the Secret?
There are two principles that we apply to innovation, principles that have never failed us:
• Sell it before you make it
• Innovate, don’t invent. We need to understand the difference between these terms so often wrongly used interchangeably.
Apply the principles of innovation and success is assured.
Will it even end?
The short answer is no and this brings us to the fundamental that inspires the product development we do, in hardware, software and marketing.
“Everything we do or use today will eventually be rendered obsolete by either a better way or the march of Technology. Nothing is free from the opportunity for innovation”
Roger La Salle, trains people in innovation, marketing and the new emerging art of Opportunity Capture. “Matrix Thinking”™ is now used in organizations in more than 29 countries. He is sought after as a speaker on Innovation, Opportunity and Business Development, is the author of four books, and a Director and former CEO of the Innovation Centre of Victoria (INNOVIC) as well as a number of companies, both in Australia and overseas. He has been responsible for a number of successful technology start-ups and in 2004 was a regular panelist on the ABC New Inventors TV program. In 2005 he was appointed to the “Chair of Innovation” at “The Queens University” in Belfast