In the last post for How to Be an Innovator, we discussed the benefits of being a solo innovator. However, studies show that innovation and creativity best occur in a social context. Follow the jump to read more about the creative process in a group here.
Part Four: Form a Strategic Partnership
Sometimes innovation demands bringing two seemingly different or unrelated ideas together to form a new solution. In these cases strategic partnerships and joint ventures are a common method for tackling a creative challenge and forging a new product or innovation.
For example, take Ti-Vo and Netflix. Recording TV shows for later viewing and mail order DVDs are two very different products, but by forming a joint partnership, these two organizations have created an innovative solution in response to a rapidly changing home entertainment marketplace.
Think about the creative challenges your business is facing today. Economic challenges present a lot of opportunity for innovation and forming strategic partnerships. If your business is local, is there another local organization you can partner with to strengthen your product offering? If you are national, is there a niche organization you may be overlooking?
Consider implementing a limited market research study to discover what type of individuals use your product. Then find out what other products they also purchase.
Think eco-conscious soccer moms and your local farmers market. Or college students and the growing audiobook industry. Or local painters and a social justice movement.
You’re looking at a partnership made in heaven.
Related posts:
We must include others. I wrote an article today about being more intentional about including others in what we do. Kudos!
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Thanks for your comment, Evan! I checked out your blog, too, and enjoyed your article. It’s true – we are at our best when we are part of a team.
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