Yale University is teaching innovation. The Yale Entrepreneurial Institute launched programs that connect students with opportunities for social entrepreneurship. The discipline of innovation is not new - Adam Smith in his 1776 "The Wealth of Nations" posits the division of labor fuels innovation. What can you do as an entrepreneur to lead the charge and innovate within your … [Read more...]
4 Ways to Never Forget an Idea at Work
Are you one of those people whose mind is always buzzing with thoughts and churning out new ideas? If yes, then you must have also experienced the feeling of defeat or anguish when a wonderful, revolutionary idea slips from your mind before you can even fathom it. Correct? Whether you are an entrepreneur or a professional, you certainly, at some point in our life, have been … [Read more...]
How Etch A Sketch Helps Creativity
Today, with all the tablets, phones, and electronic devices, you might think children have it better than we did growing up. I don’t know about you, but I loved playing with the Etch A Sketch. I made all kinds of designs and spent hours playing with it. What I didn’t realize back then was that I was using my creativity. This “device” was helping me broaden my … [Read more...]
How to Dream Big and Stay Real – Innovation Requires Testing
If you are an entrepreneur or small business owner, you know how important it is to maintain a competitive edge and attend to daily business strategies. Running a business is arduous work, requires 24/7 attention, and often leaves you, the business owner, exhausted. Moments of creativity can be elusive. Yet to remain competitive, you always need to be on the lookout for fresh … [Read more...]
Imitating Innovators is Smart Business
Did you know that 97.8% of the value of innovations goes to imitators? (“Imitation is More Valuable Than Innovation,” Harvard Business Review, April 2010.) White Castle led to McDonald’s; Diners Club lead to Visa, MasterCard and American Express. Walmart’s founder admitted to borrowing most of its practices from others and improving on them. In the financial services … [Read more...]