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Where Will New Ideas Have the Greatest Impact?

Is innovation about killer ideas --- something big that will turn the world on its head? Or is it simpler than that?

Odds are we won't be able to come up with groundbreaking innovative concepts like the Apple iPod or Cirque du Soleil every week. We need to keep looking for them, of course, but we also need to recognise that there are many opportunities to incrementally improve our businesses.

Areas of focus should include challenges to be met, things to improve, unmet needs, wishful thinking and potential problems to avoid.

The low-hanging fruit of innovation can be found in areas of opportunity where there is:

  • a specific problem, fault, deficiencies
  • further development required
  • an emotional target (something that really annoys people)
  • wishful thinking
  • market gaps
  • high cost

Did you read this as "Opportunity is nowhere"? or "Opportunity is now here"?

Finding innovation can simply depend on whether you see the opportunities or not.