In 1899 Charles H. Duell, the Commissioner at U.S. Office of Patents, was quoted as saying, “everything that can be invented has been invented.” In Charles’ defense I am sure he had seen the oddest and most un-innovative inventions. Nonetheless, I would like to propose that innovation will never cease.

Innovation is a Cycle

There will always be something to invent. The world we live in today experiences rapid and unparalleled change. And change is a catalyst for new innovation. Furthermore, the nature of innovation is that each innovation changes something. The result of the change is that more innovation can occur. Change leads to innovation and innovation creates change!

This cycle can occur on a micro or macro scale. Take the invention of the steam engine. That dramatically changed the world and allowed for countless innovations which in turn changed the world and lead to more innovations.

So the next time you or even your competition comes up with a great innovation ask yourself what does this change. Then work on the next innovation in the cycle.

I have in the past and continue to work closely with many nonprofit organizations. Over the years I have come to realize that nonprofit organizations face unique and difficult challenges when it comes to innovation. The innovation challenges faced by nonprofits can be traced to two root sources: a lack of capital and strong traditions.

Lack of Capital

Cash flow is always a problem for nonprofit organizations. How can they divert funds to innovative projects when their basic needs are not met? Nonprofit organizations become accustomed to living “donation to donation.” As a result, when some capital is raised, most non-profits put it aside for a rainy day.

Read the rest of this entry »

I would like to share an article with you. Dev Patnaik wrote a great article for Business Week called Five Common Mistakes of Innovation. This article is a must read warning of common pitfalls of innovation. It isn’t enough to “paint the walls purple”.

We have all hear the term bottom line mentality. This is where all decisions in an organization are based on the bottom line, money. I am sure many of us have operated in such environments. Few companies admit to operating in this way; yet, if we are honest with ourselves nearly all organizations at some level utilize the bottom line mentality.

I am going to share with you an innovative idea that will change the way you do business. This innovation is taken directly from the way non-profit organizations operate. In place of a bottom line mentality use a values mentality. Think about that for a minute. A values mentality can have the value of making money, but that will be along side other values.

Read the rest of this entry »

As Bill Watterson’s Calvin explains to Hobbes, “you can’t just turn on creativity like a faucet. You have to be in the right mood.” After Hobbes inquires as to what mood is the right mood, Calvin responds, “last-minute panic.”

Calvin is right; you can’t just turn on creativity. Creativity is actually achieved through a combination of consistent hard work and inspiration. Now I know by saying creativity is inspired that I just offended the half of my readers. However, there are two myths about creativity that I wish to dispel.

Read the rest of this entry »

A quick tip! Take note of when you are most innovative; not just when you are most productive.

My friends often joke with me that I am not a morning person or a night person, but I have a two hour window in the afternoon. This is true for my level of alertness, but not for the time when I am most innovative.

I actually find I am most innovative during the times when I am least alert. For me late at night and early in the morning, I have an increased ability to synthesize ideas and innovate. The reason for this is that it is during these times my mind is the least cluttered and new ideas and connections are easily made.

When are you most innovative?

While I am sure I will write more on creating a culture of innovation in the future, today I would like to pass on to you the number one way to achieve a culture of innovation.

Everyone wants to have a culture of innovation; or at least everyone says they want a culture of innovation. Be warned that innovative organizations can be a very disruptive place, and as a leader, you will need effective change management strategies.

Here it is, the number one way to encourage an innovative culture, is to implement innovative ideas. Do not hear me wrong, this is not a codependent statement; I am not saying that in order to have a culture of innovation you need to be innovative. What I am saying is that when people in your organization suggest an innovative idea and you drop it, you have just discouraged them and everyone else from even suggesting another innovative idea. You must learn to push forward innovative ideas, to see where the trail goes. Not all ideas will make it to the finish line, but in order to have a culture of innovation you must start by actually implementing ideas.

Read the rest of this entry »

I have spent the later half of September writing on how to raise capital for your business. I wrote about the timing of a pitch, ten rules to follow when making a pitch, and how to get an opportunity to pitch your idea. I would like to now give you some resources that will aid in putting together the specific content of a good investment pitch.

Remember each pitch should be tailored to your specific situation and to the individual investor. The length of time you have to make your pitch will vary from 30 seconds to 20 minutes. If this is a formal meeting to pitch your business then 20 minutes is a good length to aim for. Nonetheless, a rule of thumb is to be prepared for anything and know your stuff well enough to adapt to the situation at hand.

Read the rest of this entry »