There is an ongoing discussion on how to increase and encourage innovation. This is especially prevalent in the risk-averse Canadian healthcare space. In order for innovation to prosper in a marketplace, these conditions must prevail:

Understanding what innovation is

Innovation doesn't have to be a brand new technology or process, it could be an enhancement of something that already exists. By looking at the definition in a different way, it makes the activity of encouraging innovation easier to digest. Let's think about how we can make improvements. Some will be brand new and game-changing and others will be small improvements on what currently exists. Both are innovations.

Having a system that incents innovation

This requireds governments and industry organizations to create incentives for companies that innovate. These incentives could take the form of grants, funding, lower barriers to market access, tax credits or relief, or many other options. The key is that companies are incented to improve upon what is currently in the marketplace. This can also extend to those organizations that have the ability to discourage innovation-media, lobby groups, funders. These organizations often publicly punish organizations who are trying to innovate but may not have been successful, thus discouraging others from trying.

Having an appetite for risk

Organizations that are in the marketplace need to have an appetite for the risks required when chasing innovation. Not every innovation is going to be a success, so companies need to recognize this when embarking on an innovation. Listen to the marketplace, listen to customers and fulfill a current or future need to increase chances of developing successful innovations.

Developing a roadmap for success

Whenever you try to go from one place to another, you need a map to show you how to get there. Innovation is no different. What are the processes that need to be in place? What stakeholders need to support the initiative? What are the steps required to effectively develop, commercialize and implement new innovation? Without a common roadmap, organizations will falter at various stages by developing their own way of operating.

Understanding and taking the first step

One of the biggest roadblocks to new innovation is that organizations don't know where or how to start. To talk about innovation as a concept is a daunting task, so we need to break it up into manageable chunks. Understanding the first step in this initiative will go a long way to creating some forward momentum. Don't think of the whole journey, just think of one thing your organization can do to start the journey, then let the laws of physics take over (something in motion tends to stay in motion).

In our healthcare systems, we need to do a better job of creating processes that are proactive and engage patients and front line caregivers better to anticipate need. This doesn't mean patient and employee satisfaction surveys, although this is a good start. This means creating a process by which employee feedback can be gathered, analyzed and implemented. Create an employee feedback program and encourage staff to put forth ideas on how to improve the performance of the organization. Those ideas must be captured and reviewed, with the best ideas implemented. Success for a program like this will only happen if employees feel that their ideas will get a fair shake and that they see other ideas coming from employees being implemented. As for patients, employees need to be more aware of the ideas patients and their families may have. Talk to patients about their experience...what they liked, what they didn't like, whether or not they felt comfortable, if they had a positive experience that they would tell people about. All of these things can help gain a better understanding of what patients really need and some simple ideas to improve the performance and speed of the organization. If you treat patients like customers and recognize that they are a wealth of valuable information, then you are one step closer to improving your organizational effectiveness.

Miller's Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on strategy, operations, life balance and everything in between

Toronto - August 22, 2011 – Borders just became another victim. Blockbuster and Kodak have suffered, or will suffer, the same fate.  It almost happened to General Motors. Companies that used to be market leaders are closing their doors. Why? Because they forgot what made them market leaders in the first place, innovation, and they recognized a changing industry much too late in the game. Borders became a victim of the digital age...people ordering digital books and ebooks online to read on their tablets and e-readers. I use the word 'victim' but that is not the correct word. Borders was part of a changing industry and they didn't recognize early enough how to capitalize on that change, so they got left behind. Market behaviour is always going to change as a result of innovation, technological enhancements and changing customer habits. The companies that thrive are the ones that not only recognize this fact, but look for opportunities to exploit it. Being first or second out of the gate definitely has its advantages. Here are four things to think about to ensure you can thrive in any environment, especially in a declining industry:

• Be constantly aware of what customers want - This can only be achieved by talking to them and involving them in the development of new ideas and innovations.
• Be aware of what technological advances might impact your industry - Know how you can leverage those advances to rise above your competition. Know what the next big thing is before it hits and be the first one to take advantage of it.
• Approach every new development as an opportunity, not a setback - This needs to be ingrained in your corporate culture and permits you to attack opportunities quickly. Develop ideas that not only ride the change, but even get ahead of it so you control how the industry changes (think Apple and the iPod).
• Never get too comfortable - Always be innovating and take what Marshall Goldsmith said to heart, "What got you here won't get you there."

To request an interview or more information, please contact:

Andrew Miller
416-480-1336
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http://www.acmconsulting.ca
 
Follow me on Twitter @AndrewMillerACM

© Andrew Miller. All rights reserved. 2011.

Miller's Monday Morning Message
presented by ACM Consulting Inc.

Andrew Miller on strategy, operations, life balance and everything in between

Toronto - August 15, 2011 – Last week I was walking through the town of Hunstville, Ontario with my family and noticed a brilliant marketing idea by a local shop owner. He owned a bike store and obviously wanted to not only attract customers for his bikes, but also his other products. He had bike racks mounted to the outside of his store to display his bikes to people who walked by on the sidewalk. On the surface, this seemed like a creative way to showcase the bikes. However, upon further reflection, I realized that this was a brilliant way to showcase the bike racks! So I mentioned to the owner that I thought this was a great idea and he replied "I have sold about three times more bike racks than before I had them mounted outside." What? A low-cost marketing idea that has more than tripled sales? What an amazing accomplishment. And these racks were no small potatoes, the two models mounted to the front of the store cost in the range of $400 each and were top-on-the-line brand names. It shows us that no marketing idea is too simple and even the most basic ideas can yield results. This story also shows us that we should always be on the lookout for new ideas and new ways to market our products and services. Package things a little differently, shows complimentary products together, or find other creative ways to attract attention. Think of the small bike shop owner and displaying his bike racks outside for everyone to see. People now walk by the store and think, "I need a new bike rack for the car and here are two right in front of me, I should go in and take a look." Sometimes the best ideas come from the most unlikely places.
 
To request an interview or more information, please contact:

Andrew Miller
416-480-1336
.(JavaScript must be enabled to view this email address)
http://www.acmconsulting.ca
 
Follow me on Twitter @AndrewMillerACM

© Andrew Miller. All rights reserved. 2011.

As I work with more and more clients and build stronger relationships with them, it becomes more clear to me the different between a consultant and an advisor. A consultant will help improve the performance of your business (at least a good one will), but an advisor does these things in addition to that:

• Provides you candid advice, regardless of what everyone else is telling you
• Introduces you to key people that can help you in other ways
• Always has your best interests in mind, not their own
• Communicates with you regularly, even when there is no work being done together
• Provides value to you on regularly, even when an initiative is not being worked on
• Develops explicit trust with you and shares confidential information
• Brings customers together to share information
• Develops thought leadership material

The only business model that I follow is to be a trusted advisor to my clients and do what is in their best interests to improve their lives. Do you have anyone around you providing that? If not, you should. A trusted advisor will help your business and your personal development improve in ways that you did not know were possible.