7 phases of the business innovation process

The business innovation today is a complex process that must be very well planned. Offering customers or users the best products and services, those that differ from the rest, is not an easy task. For this reason, professionals who work in e-business or an e-Commerce or who seek to lead its management must master the different phases of the innovation process in a company.

Keys to the process of innovating

There are different stages of the innovation process. All of them are aimed at success, although none assures it. In other words, achieving an innovative idea does not mean that it will be successful. And is that sometimes business innovation ideas require a lot of funding and extensive prior analysis. Furthermore, it is advisable that success is a consequence, but not an end, of the innovation process.

Stages of business innovation

We can find the following phases of the innovation process when looking for new ideas for a business.

1. Be constantly alert to the competition

The first stage of innovation consists of creating structures to carry out a constant study of the competition. But it will also be necessary to study the exterior that is, to society, and make decisions based on the data obtained.

2. Set decisions for the short, medium and long term

It is important that the company does not think in the short term, but must understand what objectives it can achieve in the medium and long term. This stage of innovation depends on how each sector evolves. In some sectors, competition is so voracious that the "medium-term" can take up to six months. However, in other areas, the same measure may refer to a period of years.

3. Conduct an in-out examination of the company

When it comes to innovating, an essential phase is to ask what our company offers and to what degree is offered is demanded by society. This question may be the key to creating new products or services. If, for example, our product is not in use by society, we must adapt it, to modify our offer effectively.

4. Encourage creativity to innovate

Creativity is essential in the innovation process. It is necessary to develop an idea, detect needs, and structure a plan that impacts society and changes people's lives. This creativity must be thoroughly worked within the company itself. Otherwise, it will be difficult for good results to be achieved.

5. Know the past history to help us in the future.

Another tip for innovating at the business level is to have a department that is able to take advantage of the company's previous experience to resolve future conflicts. In this way, you will be more prepared to avoid failure and take more advantage of business opportunities.

6. Without cooperation, innovation is not possible

Cooperating is necessary to carry out innovative business projects. Although looking for a cooperator does not mean looking for shareholders or investors. On the contrary, it is about finding partners who are involved in the real development of new ideas and assume all the consequences of their decisions.

7. Design the idea itself

The last phase of the innovation process is to structure the idea or ideas that have emerged in previous stages. This implies setting the branding activity, the advertising slogans, their presence on the web, etc. Actually, no company should start drawing the logo of a product without being clear about the 6 points above.