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(Video) The DNA Of An Innovator – Becoming An Innovation Machine

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Most people believe that you are born to be talented and if not then oh well “you are just meant to be that way”. Authors Jeff Dyer, Hal Gregerson & Clayton M Christensen believe otherwise. In the Book written by the said Authors “The Innovators DNA” these experts reveal in a new study what key skills are needed to develop innovative and creative entrepreneurs. In these Videos both Jeff Dyer & Hal Gregerson outline the four ways leaders come up with their great ideas.

 

(Video) Jeff Dyer: Think Like An Innovator

(Video) Hal Gregerson – The Innovator’s DNA

Jeff Dyer, Hal Gregerson & Clayton M Christensen’s Four Ways To Become An Incredible Innovator:

  • Ask the right questions. “We all know that questions are important as a catalyst for creative thought,” says Dyer. “But some people are much more inclined to question the status quo, and they tend to ask ‘what if?’ kinds of questions.” One technique that can be used to ask more provocative questions, says Dyer, is to impose constraints. “If you’re looking for innovative ideas on how to grow, you might ask ‘what if we were legally prohibited from selling our projects to any of our current customers?  How would we make money next year?’” Or, you might take the Steve Jobs approach and  try eliminating constraints by asking “what kind of product would we create if money were no object.” Either way, says Dyer, “creativity loves constraints.”
  • Observe what others don’t see.  “Some of us do it better than others,” says Dyer. “The kinds of observations that seem to make a difference for business owners are observations of customers and competitors.” Scott Cook of Intuit, for instance, always paid special attention to behavior that was in some way surprising. “The anomalies are the key,” says Dyer. “When you find the surprise, that may lead you to observe something no one has ever seen before, and that can trigger ideas for new businesses.” The best observers, he says, are people who have lived in multiple countries for three months or longer. “You more naturally tend to observe because things are different.”
  • Tap the right networks. “Typically people network for the purpose of accessing resources,” says Dyer. “And they want to talk to people like themselves.” But innovators, he says, are more likely to target people who are not like them. Pierre Omidyar, the founder of eBay, frequently noted that he learned more from a mail room employee than from the CEO when visiting a new company. “You want to talk to people who are in different social networks than you are in,” says Dyer. “People not in your industry or in your company are more likely to give you a perspective that you haven’t heard before. The key is to talk to people from other countries, of different ages, political persuasions, and ethnic groups.”
  • Be savvy with your experiments. “Richard Branson has had 300 different Virgin businesses,” says Dyer. “Some have worked and some have failed. He is prepared to try anything once.” The idea is that you pilot your ideas quickly, get them out into the marketplace, and not be afraid of failure. There are two other ways to experiment, notes Dyer: 1. Take things apart, then put them back together again. That’s what Michael Dell did with an off-the-shelf computer, and the process gave him the idea for the Dell direct model. 2. Learn a new skill. After Steve Jobs dropped out of Reed College, he decided to take a calligraphy class simply because he was intrigued by the art.  Ten years later, that exposure to calligraphy informed Job’s design of the Macintosh, which was the first computer with beautiful typography.

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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Success Advice

Why You Shouldn’t Discount A Brick And Mortar Store In 2025

We’re constantly told about how stores are closing down and how shoppers prefer online options, but is it worth questioning this theory?

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How to grow a brick and mortar store
Image Credit: Midjourney

In 2024, you’d be forgiven for thinking that physical shopping is a thing of the past. We’re constantly told about how stores are closing down and how shoppers prefer online options. But is it worth questioning this theory? (more…)

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Success Advice

How to Alter Your Business Approach With Technological Advancements

Keeping up with technological trends has become a challenge for almost every business owner.

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altering business approach
Image Credit: Midjourney

Technology’s evolution has impacted everything, and business is no exception. Keeping up with technological trends has become a challenge for almost every business owner. Entrepreneurs unable to do so are being wiped out of the market.

There is no doubt that AI (Artificial Intelligence) and ML (Machine Learning) have taken over the business world. These technological advancements are impacting decision-making, success percentages, and other entrepreneurial aspects.

Adapting to these developments is integral to business success. Let’s explore how you can accomplish these milestones.

Embed the strength of AI and ML.

AI has modified business operations in major ways. For instance, companies have employed bots for customer support. These bots go through an effective learning process via Machine Learning before being able to answer like humans.  

Bots can also perform detailed data analytics and make business moves with high success percentages.

ML is used more for the analysis of data chunks and generating successful predictions. This simply means that business owners do not have to worry about large-scale financial losses. 

In terms of deployment and usage, a reputed company like Netflix employs machine learning for decision-making.

Blockchain is increasing the count of business opportunities

Tampering of financial transactions is quite common and causes severe monetary damage to customers. With the rise of digital payments, this risk has increased. 

Blockchain is used to elevate your experience for monetary transfers. It combats penetrating events to extract confidential customer information. 

Most business sectors are using block chain but finance and supply chain management sections have a higher count. These two corporate sections have several monetary deposits and withdrawals taking place. 

In terms of percentage, approximately 72% and 5% of finance and supply chain firms have implemented block chain successfully.

Dedicate Yourself to Continuous Learning and Individual Development

You invest in learning some of the very important skills, including digital marketing, financial management, and how to gain customers as an entrepreneur.

You need to set up your knowledge base about doing business on Coursera and Udemy with the basics that are necessary for the business, building further by networking with experts through webinars.

Besides, Agile methodology will introduce elasticity to your company: this review and feedback system with further correction regularly will allow for enhancing efficiency and promptly reacting to the market.

Developing key skills to achieve goals

Running a business successfully is not only about having niche/domain knowledge. Business owners need to have communication / soft skills as well in addition to niche information.

Here are some key technical/domain-related areas that business owners should have a strong grip on.

Data Storage on Cloud: These days, companies do not store their data on physical servers. Therefore business owners should know how data is stored/edited/removed/updated via AWS, Azure, Google Cloud, and other platforms.

Data Analysis/Interpretation Qualities: These days, data is as precious as gold. Business owners with data analysis abilities make correct predictions. As a result, their ventures grow in volume.

Development/Coding Knowledge

Programming knowledge gives business owners an edge whether the application is developed in-house or outsourced. It assists in getting updates deployed and handling application underperformance without getting professional support every time.

Hacking proof framework

There is no benefit of having an advanced automated system if can be penetrated. Successful business owners have above-average knowledge of cyber security and hacking attempts. They are able to choose top-notch anti-hacking software without much of an ambiguity.

Communication Abilities/Soft Skills

Here are some key communication qualities that business owners should have:

Communication/Conversation: Business owners should use to-the-point sentences in both written and oral communication.

Issue Resolution Abilities: Business owners should be able to drill down to problems and solve them. This is done successfully only if an entrepreneur has in-depth business domain knowledge.

Agile Implementations

It is mandatory for business owners to have knowledge of iterative/agile models. With such a competitive environment, it is impossible for business owners to succeed without adopting an agile framework.

Create a productive well-crafted Business Strategy

A productive business venture starts with a clear vision. The first factor making a business successful is the idea behind it. It helps with endless growth and combating competition successfully. Katherine Philips once mentioned that business goals are inevitable if goals are set concretely.

  • Goals should be based on smart achievements instead of complexity. Focus on the value that each one of them adds. 
  • Business objectives should not be vague. Key indicators should be constructed to measure the success/failure of each milestone.
  • Be realistic when setting goals. Do not aim at impossible milestones since they can be demotivating.
  • Milestones/goals need to be time-bound. Set a completion deadline for each one of them. 
  • Business goals should not be alien. Owners can think out of the box but not be obsolete / unrelated.

Create a productive well-crafted Business Strategy

Business owners cannot succeed without having a network. Some tips help in this case. Attend conferences and professional gatherings to connect with other entrepreneurs.
Here are some other related points business owners should pay attention to.

  • Attend meetings and conferences to stay updated with trends and meet business owners who already have well-set ventures. This helps in enhancing the learning curve of new / growing entrepreneurs.
  • Being a part of business communities/groups is very productive. When one shares opinions and discusses decision-making tactics, it helps in preventing errors and enhancing success rate.
  • Even the most experienced business owners have mentors as learning never stops. Take part in mentorship programs so there is an assurance that you are following the correct roadmap.

Conclusion

There is absolutely no doubt that business dimensions have evolved with technological advancements. Successful entrepreneurs have grabbed these changes in due course of time and continue to evolve. On the other hand, people following old paths and conventional steps fade out of competition. In a nutshell, keep an eye on the processes and practices you follow as these factors decide success rate.

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Success Advice

Understanding the Power of Yes and No: How to Create Boundaries For Success

These words have a significant impact on how our success unfolds

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Creating legal boundaries
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The two smallest yet most powerful words in life, “Yes” and “No,” have a big impact on our growth on both personal and professional levels. In addition to affecting the choices we make every day, these words have a significant impact on how our success unfolds. (more…)

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Motivation

From Couch Potato to Go-Getter: A Step-by-Step Motivation Plan for Everyone

By understanding what motivates you, you can turn your dreams into reality

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How to be motivated
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Are you tired of feeling like a couch potato? Do you want to transform your life and become a go-getter? You’re not alone! Many people struggle with motivation, but the good news is that change is possible. (more…)

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