Eight components linking innovation to success in business – An illustration

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This post shows eight components that could help in linking innovation to success in business (Read more here on SayPeople.com)

Creating a successful business from an innovation requires eight key elements Sheet.323 https://www.inc.com/martin-zwilling/8-prerequisites-for-turni… https://www.inc.com/martin-zwilling/8-prerequisites-for-turning-any-innovation-into-a-business-success.html Rectangle.429 Source: Inc. – 8 Prerequisites for Turning Any Innovation Int… Source: Inc. – 8 Prerequisites for Turning Any Innovation Into a Business Success Rectangle.474 Your innovation must help in solving a customer problem Your innovation must help in solving a customer problem Rectangle.479 Your innovation can be considered great if it is associated w… Your innovation can be considered great if it is associated with a minimum of three ideas Rectangle.480 First you have to be a dreamer, but become a realist consider… First you have to be a dreamer, but become a realist considering marketplace risk Rectangle.481 You have to check your innovation with a minimum of 100 custo… You have to check your innovation with a minimum of 100 customers Rectangle.482 You should be prepared to pivot at any time You should be prepared to pivot at any time Rectangle.483 You must have your business model and a 5-year plan in the wr… You must have your business model and a 5-year plan in the written form Rectangle.484 You have to take all the necessary steps in increase your cha… You have to take all the necessary steps in increase your chances of success Rectangle.485 Ensure constituents' trust and communication Ensure constituents' trust and communication Sheet.487 1 1 Sheet.488 2 2 Sheet.489 3 3 Sheet.490 4 4 Sheet.491 5 5 Sheet.492 6 6 Sheet.493 7 7 Sheet.494 8 8 2-D word balloon Problem must be real, and beware of alternative solutions Problem must be real, and beware of alternative solutions 2-D word balloon.497 Ideas for similar approaches – You may use brainstorming or e… Ideas for similar approaches You may use brainstorming or expert feedback 2-D word balloon.498 You can use prototype to test marketplace risk You can use prototype to test marketplace risk 2-D word balloon.499 You have to know that early adopters usually love new feature… You have to know that early adopters usually love new features and innovation, but large number of people like usability and simplicity 2-D word balloon.500 Pivoting or changing could help in the case of unanticipated … Pivoting or changing could help in the case of unanticipated customer reactions and competitors 2-D word balloon.501 Written form can help in thinking on different aspects, inclu… Written form can help in thinking on different aspects, including solution features, real competition, market definition, and marketing 2-D word balloon.502 Such as reducing risks, especially manageable risks Such as reducing risks, especially manageable risks 2-D word balloon.503 Such as communication with investors and team members on week… Such as communication with investors and team members on weekly basis it could also help in developing trust and credibility

Usman Zafar Paracha

Usman Zafar Paracha is a sort of entrepreneur. He is the author of "Color Atlas of Statistics", and the owner of an Android game "Faily Rocket."