Beyond label-making: building a path to true innovation

The following column is from R.J. Reynolds, president/CEO of Mek client Radius Indiana. It appeared in the OP-ED section of the Indianapolis Star on August 28.

Faced with economic uncertainty, budget constraints and a set of new fiscal parameters sometimes called “The New Normal,” many executives and leaders have called on companies and regions to embrace innovation. Innovation, of course, represents a disruptive course of action, where new elements replace old ones.

The term, innovation, rightly portrays a forward-looking vision, which unfortunately leads some to simply adopt the label of “innovation” while maintaining operations that are otherwise quite ordinary. In fact, given that the term “innovation” is definitely on a major upswing in usage, earlier this year The Wall Street Journal nominated “innovation” to be officially recognized as the most overused phrase of 2o12.

So without indulging in label hyperbole, how can Indiana—particularly regions in southern Indiana—begin to embrace true innovation and ultimately build a new culture of innovation that leads to higher productivity, technology advancement and a boost in per capita income?

Real innovation obviously begins with a willingness to change or embrace change. That means getting out of one’s comfort zone a bit. Change can produce new conflict, which if kept to a manageable level, is not a bad thing.

What’s next? Consider the quality of education in our workforce and resources available to institute and embrace change. Hoosiers can have great ideas, but to commercialize those ideas and bring them into the marketplace, they need a support structure in the form of mentoring, guidance and funding.

Once these resources were in short supply. Today, the Indiana Small Business Development Center (SBDC) has offices across the state.  Both start-ups and existing small businesses can tap into SBDC resources to quickly advance their little enterprise.   Where once outside funding was virtually non-existent except through friends and family, today several angel investors within a number of different angel networks can provide critical seed or advanced capital to build a company.

Many great ideas are killed by fear of failure.  Entrepreneurs and those embracing true innovation must be fearless and willing to take intelligent risks.  The success rate for true innovation in products is often low – one source noted how a new product often faces odds of 100 to 1 to become successful. But failure, if it is harnessed as a learning opportunity, leads to success as evidenced by such legends as Thomas Edison. Edison failed thousands of times in producing the first light bulb, phonograph, commercial electricity and many other products and services. If he had simply given up the first time he experienced a setback or failure, our quality of life would likely be substantially different today.

Organizational innovation must be rewarded. If you’re in an existing company, consider how you can value and reward employees for embracing and producing innovation in your products or services.  In a company that has truly embraced and is developing a culture of innovation, not every outcome will be perfect or without trauma.

Tear down those silos – a culture of innovation is collaborative and team-building. When people learn how to pool together their intellectual, behavioral and experiential resources in a positive environment that promotes risk-taking, great things can happen.  

Building a true Culture of Innovation goes far beyond mere labeling. Valuing people, promoting risk-taking, embracing continuous improvement and partnership with change represent critical elements for achieving real innovation, whether in manufacturing, services or product development and delivery. Americans and Hoosiers already have a legacy of innovation in us—let’s work to reignite that capacity and advance our state.

A New Style of PR dominates in Silicon Valley

Whoa, did I make that up? Here's the confirmation from the New York Times:
"This is the new world of promoting start-ups in Silicon Valley, where the lines between journalists and everyone else are blurring and the number of followers a pundit has on Twitter is sometimes viewed as more important than old metrics like the circulation of a newspaper.
"Gone are the days when snaring attention for start-ups in the Valley meant mentions in print and on television, or even spotlights on technology Web sites and blogs. Now P.R. gurus court influential voices on the social Web to endorse new companies, Web sites or gadgets — a transformation that analysts and practitioners say is likely to permanently change the role of P.R. in the business world, and particularly in Silicon Valley."