The single most important thing you can do to ensure the ongoing success of your business is to create a system for innovation!
There is one simple, real and cruel fact of business life...you're either growing or dying. The chart at right shows the classic bell shaped curve of the product/business life cycle...start, grow, peak, decline...
Since 2007, TechHelp and the NIST MEP network have worked with legendary innovator, Doug Hall of Eureka! Ranch, to perfect the Innovation Engineering (IE) System. IE transforms innovation from a random event into a reliable, scientific system for profitable growth. It accomplishes this by creating a culture of never ending innovation within organizations that delivers increased innovation speed (up to 6x) and decreased risk (30 to 80%).
Think about it. How do you or how does your company come up with and commercialize meaningully unique* ideas for new products, markets, services, models and messaging that will drive profitable growth??
(* By "meaningfully unique" we mean products that customers are willing to PAY MORE FOR because they provide a meaningful solution to a customer problem and have few competitors.)
The way to wealth is INNOVATION!
The graph at left shows that companies that innovate are much more profitable than those that rely on low cost, delivery, voice of customer or quality.
TechHelp and the Manufacturing Extension Partnership spent the past five years working with legendary Eureka Ranch innovator Doug Hall, the University of Maine, Georgia Tech and thousands of U.S. manufacturers to perfect a system that helps companies and individuals generate and commercialize meaningful unique ideas for new products, services, markets, models and messaging.
INNOVATION ENGINEERING IS A RELIABLE, REPRODUCIBLE and SUSTAINABLE SYSTEM that increases innovation speed (6x) and decreases risk (30 to 80%) with tools to help your team think smarter & more creatively. We don't just tell you to innovate - we show you how and work with you to build the system into how you do business.
Innovation Engineering has something for everyone - manufacturers, inventors, investors, entrepreneurs, researchers and more. The National Innovation Marketplace is the portal that brings it all together. REGISTER FOR A FREE ACCOUNT TODAY and get in on the action. The NIM helps companies painlessly list, find and filter potential innovation alliances from around the world. The NIM connects idea buyers and sellers, investors, distributors, researchers and manufacturers.
Research finds that innovation driven growth is as much as 3X times more successful, 85% more efficient and requires 50% less capital investment.
A recent survey conducted by Bain & Company in Boston revealed dramatic differences between innovation leaders and everyone else. Innovative companies grew at an average annual rate of 13%, compared with 5% for other companies. They also enjoy far greater employee loyalty, and they are better than their peers at making and executing decisions.
Innovation leaders tend to embrace a system built around five components:
The leaders set a clear, specific strategy for innovation
They build an organizational culture that nurtures new products and processes
They create effective processes for idea generation and development
They know how to manage a diverse portfolio of innovations—and that has the appropriate size, shape, and speed
They are effective at scaling new business ideas, supporting them with the right level and type of resources
Contact TechHelp Manufacturing Specialist, Jay George, to discuss how TechHelp's Innovation Engineering Management System can unleash the creative power of your team and create a system that will produce powerful and sustainable growth.