For the last three months that I have been working at InventionShare in Ottawa I have been talking with inventors, looking at unique game changing inventions and talking about how innovation is the mother of competitive advantage.
For most organizations, transforming their organization requires the addition of new products, finding unique market opportunities or the integrating some different and systematic approaches that will allow for cheaper manufacturing and or distribution. Innovation like transformation also includes finding specific opportunities that are different from that of a competitor or an ability to develop a new market or unique customer niche but in most cases its an evolution and is totally different from what was done in the past.
The key thing in all of these situations is the ability to create new opportunities and to be aware and open minded enough to accept new possibilities or new breakthroughs and new innovations or inventions that create new products or processes within your existing and future marketplace. The reality is that innovation and transformation is either internal within a company or external which allows for changes in products and services offerings and in reality is really the only way for a company to establish some form of competitive advantage.
For example in my work with the Center for Business Transformation we look at the human side of the business and find that if subtle changes are carried out continuously over time a company can transform itself and its culture and in most cases improve its bottom line through finding efficiencies.
With InventionShare, and our inventors and their inventions we look at the product and the manufacturing side of the business and provide innovative and game changing opportunities in either the manufacturing process or look at game changing inventions that make a difference in the way the world works. The competitive advantage then is found in the innovation and the development of new products or processes that offer unique ways to bring about change. This means a product is better, faster, cleaner, more efficient, cheaper, unique, creative, does more or provides more of something.
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Innovation then includes looking at ways for doing something differently, speed is of the essence and it must be game changing. Anything less will mean that your organization or company risks being surpassed by those companies that can bring about change quicker and more efficiently, take advantage and be aware that the game is or has already changed and are taking the appropriate steps to prepare or be part of the change.
Doing things the way you have always done it, is not what game changing is all about. Inventing new ways of doing things and changing the way the world works, making it a better place or providing new alternatives for customers cheaper, faster and better is the way of the future.
Kensel Tracy is the V.P. Invention Catalyst at InventionShare based in Ottawa and works with inventors who have game changing inventions and links them with global companies. He can be reached at ktracy@inventionshare.com
Got a game changing invention contact us at www.inventionshare.com