OK, so if you’ve read the previous parts of this blog (link and link) you may have started thinking about how to predict trends, and how to jump off a trend before it crashes. The key to thinking about innovation is flexibility of thought. When you’ve identified a trend, movement or technology which you think might be a great development of what you do, here are some questions to ask yourself in order to apply that:
• What is the minimum I can do which moves me towards this?
• What is the maximum extent to which I can adopt this – what would that mean?
• Is this innovation a vehicle for what I do?
• Can I do the equivalent of what this innovation achieves in my market?
• Can I amend what I do to offer new services or products for people who are early adopters of this innovation?
• Does anything I do solve a problem for people who are part of/users of this innovation?
Try to answer all the questions without pre-judging the answers. It can be surprising what comes from this exercise.