You want to innovate. You know it’s important to innovate. Your customers’ behaviors are screaming it is beyond time to develop an innovation strategy and do something about it.
A problem we hear about often, however, is you have few resources to develop an innovation strategy and get started innovating.
Insights, capital, time, expertise, strategic support, people, data, materials, and processes could all be missing resources. None are necessarily standalone resources. They are typically connected to one another, i.e., a lack of insights could be because of lack of data, no people to analyze or identify insights, or no processes to turn insights into tangible innovation.
16 Keys for Innovating with No Resources
If you have hit the “no resources to innovate” wall (once or multiple times), here are sixteen areas to explore for new ideas on innovating with no resources (or at least fewer than you think you might need).
These questions are built around the six infamous storytelling words (Who, What, Where, When, Why, How). Each is coupled with the important word, else, as a way to find alternatives and get around any walls that stand in the way of a successful innovation strategy with tight resources.
WHO ELSE . . .
- Might participate in our innovation strategy?
- Would know someone who wants to participate?
- Is already addressing new product innovation in this area?
WHAT ELSE . . .
- Would permit us to innovate with fewer resources?
- Could be an input to leapfrog our innovation strategy?
- Might spin off resources available for innovation?
WHERE ELSE . . .
- Could we advance this idea with a different audience?
- Might we tap additional people to help develop parts of this new product innovation idea?
- Could we get a head start in learning what others already know about innovation in this area?
WHEN ELSE . . .
- Might we get resources in place to support this innovation strategy?
- Could we build support with new audiences we could reach?
- Would we be better prepared to launch this new product innovation?
WHY ELSE . . .
- Would others support this innovation strategy?
- Could we persuade others in our organization to support funding this innovation?
- Might customers want to get involved with this new product innovation sooner rather than later?
HOW ELSE . . .
- Could we organize our innovation strategy to start innovating right away?
This is just a start. You can adapt and customize the list to your specific situation.
Rethinking Your Innovation Strategy
Whether you’re on your own or part of a small (or even larger) team dedicated to developing an innovation strategy in the apparent absence of resources, use these questions and get everybody to start adding possibilities.
Do it quietly (where each person adds answers to a list) or loud (where the group is hearing and contributing answers all together). Either way, in 15 minutes, 30 minutes at the most, you’ll have so many more options to get around whatever the resource limitations you think you have are.
Try this. It will work for expanding your range of strategic options so you can get started innovating. – Mike Brown
Looking for Ways to Develop a Successful
Innovation Strategy to Grow Your Business?
Brainzooming Has an Answer!
Are you prepared to take better advantage of your brand’s customer and market insights to generate innovative product ideas? The right combination of outside perspectives and productive strategic thinking exercises enables your brand to ideate, prioritize, and propel innovative growth.
- Identify your organization’s innovation profile
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- Incorporate market-based perspectives into your innovation strategy in successful ways