The number of current and future opportunities is immeasurable. Successful businesses all start with an idea. What made them succeed was a focused adherence to continually developing actionable strategies and feasible tactical marketplace implementation approaches.
Not all ideas will have a viable “commercialization” application. Ideas need to be constantly evaluated, prioritized and modified to produce a customer solution that is a strategic fit with business strategies, mission and goals. Many early dotcom-era launches failed to achieve this.
This idea then became a vision, which in turn grew to a business model and a product / service solution. Also, business success requires the depiction of the idea as a business – one that satisfies the customer-perceived value and benefits over time. Constant attention to ideas keeps your business focused on future needs. This produces Lifecycle Longevity, the ultimate result of continual idea generation, solution innovation development and strategic transformation.
Businesses need to embrace the practice of continually evaluating and prioritizing ideas. This will create innovative ideas, the backbone for competitive advantage achievement and retention, producing year-over-year business resiliency and long-term durability. Today’s most successful companies exhibit these characteristics.
It takes an ongoing organized synergistic planning process to sort out the potential opportunity options and find the correct business strategic fit needed to satisfy business purpose and achieve targeted goals
It takes an organizational environment receptive to collaborative interactions and an exchange of insights and knowledge culminating in innovative thinking
It takes the ability to monitor, evaluate and act upon the evolving wants, needs and preferences of customers
Ideas are the lifeblood of business growth to survive beyond status quo / legacy performance
Ideas need to be addressed within a continual pipeline of product / service innovations for a business to have a resilient and durable competitive advantage
Ideas need to ensure continuity between short-term and long-term performance success
Ideas, when captured and acted upon, will serve to generate a constant pipeline of well-timed relevant customer solutions in the marketplace.
About the Author: Jerry Creighton Sr., MBA, is a longtime entrepreneur. He managed an accelerator/commercialization center for NJIT and is the author of The Quest for Durability – The Business Puzzle Method™. Visit: www.JerryCreighton.com
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