5 Business innovation myths to let go of this year

5 Business innovation myths to let go of this year

Faith Ocampo Published on January 5, 2016

businessman-pushing-paper-into-shredder

This 2016, aim to be more productive. Stop business innovation myths from ruining your business.

Every new year comes with a whole host of myths—groundless bits of advice stemming from our fear of deviating from practices we ve become accustomed to. While they often seem fun or harmless, there s no room for these false beliefs in business. Entrepreneurs must not let any of these myths get in the way of business innovation and productivity, especially this 2016.

So what s different this year? Nothing much, but it s about time that we admit how increasingly advanced we are when it comes to business. Every step in the innovation process is now aided by technology and even the way we reach out to customers is made better and easier by exciting breakthroughs.

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Entrepreneurs who fail to embrace progress-oriented business principles in place of backward, outdated ones will be left behind. So whether you re managing a startup or a firm with thousands of employees, shunning these five business myths will help you become more productive this year.

1. Working smart beats working hard.

 

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The key principles behind “working smart” are prioritization and proper time management, two things that would allow you to do more in a given time. This doesn t mean, however, that you can slack off when the job s done.

Hard work will allow you to fully master the skills you need while gaining more knowledge about a particular topic. You won t be able to achieve these things if you re constantly focused on creating shortcuts to the work process.

2. Innovation can only come from research and development.

 

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R&D is always a great place to start. The research process itself, on top of the actual results, will allow you to gain ideas and insights that could inspire you to create something new. However, this shouldn t be your only choice.

It s actually possible to learn how to think like an innovator in order to expand your view of innovation and how it happens. Lessons learned from failures and life experiences are also possible triggers of the innovation process.

3. The bosses start the innovation process.

 

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If you believe that business innovation must be driven by a top-down approach, you ll start losing customers right away. More than managers and employees, customers must be given the loudest voice in creating new products. They re the only ones who know what s going to work in the market, and listening to them can fuel your business growth.

4. Who you know is more important than what you know.

 

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In many cases, knowing the right people can make it easier to push through with your business ideas. But don t fall into the trap of fully relying on your network. For sure, your colleagues won t back you up if they think your ideas still require a lot of work and improvement.

5. Perfection is the basis of innovation.

 

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Everybody makes mistakes, but the really powerful entrepreneurs make the most of their own blunders by trying to live by the lessons they learn from every situation. In the same way, business innovation is not something borne out of perfection; it s a process marked by many instances of trial and error. But rather than viewing them as barriers, entrepreneurs take them as opportunities for improvement.

 

Faith is a digital media enthusiast aiming to become an active part of the tech world by sharing her insights. She likes to blog about everything digimarketing, technology, and social media.

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