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How to Turn Old Ideas into New Innovations

How to Turn Old Ideas into New Innovations

The iPod irrevocably changed the way people listen to music. The design, the functionality, and the wheel influenced the way consumers interact with their favorite artists. Today, the iPod is hailed as one of the most important innovations of the past 25 years. Yet, the iPod offered consumers nothing inherently new.

By the time the iPod arrived on the scene in 2001, mp3 players were old technology. In today’s tech terms, they were ancient. The first portable mp3 players showed up on the market in 1998, and there were 50 different portable mp3 players available for purchase before the iPod came into the market. Basically, Apple added a wheel, but it did not reinvent it. Rather, it innovated an old idea and turned it into something that everyone would come to love. What is more, Apple did not stop. It kept going.

Apple entered an established market and re-invented it. Today’s most successful entrepreneurs will take lessons from what was once America’s most valuable company by learning how to turn old ideas into sparkling new innovations.

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Here’s how:

Skip the Foundation

Marketing has consumers under the assumption that every new innovation is unique from inception. It is not true. Innovation builds on an existing concept or product and then re-imagines it out in the world. In fact, most innovation that has changed the way we work and live today is just a new combination of or iteration of old ideas.

Take something basic that almost everyone has in their home, like kettles. The electric kettle was based on the old stovetop kettle. Add electricity, and now you can boil more water in less time. However, that was not the end of the road for the electric kettle. Years later, someone developed a prototype based on that electric kettle that allowed tea fanatics to set the temperature they desired. They even created a function to keep the water at that precise temperature for specific period of time. Nowadays, there are new gadgets allowing you to brew tea in your kettle at the right temperature and time. Suddenly, a basic and utilitarian adaptation of an old concept like the kettle became a new, exciting product selling for hundreds of dollars in high-end department stores and specialty shops.

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What does this mean for entrepreneurs? It means that innovation means building on an existing foundation and innovating to find a better product. Whether you add new capabilities, include new technologies (an internet-connected kettle, anyone?), or even re-vamp the design into something more beautiful, innovation simply requires adding a single new idea that makes the old idea more meaningful.

Make It Useful

The world is currently on the precipice of several game-changing breakthroughs. One of the biggest breakthroughs in the next ten to twenty years will be in artificial intelligence.

While history will remember the pioneers behind AI, the truth is the average person will not. In fact, the developers of AI, just like the developers of the internet, will be written into history as a specialist interest, not as the global, game-changing pioneers of the future that they really are. Why? Because innovation is simply not about brand new ideas, it is about making them useful for the average person.

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The people who develop programs, applications and products that allow the general public to use AI in ways that are meaningful to their everyday lives, are the ones whose names you will know in 20 years. Although AI will change the world, these entrepreneurs are the ones who will make it change your world. That is why they will be remembered. It is also why they will be able to build lasting brands and achieve financial success.

Take this into consideration when you are looking to develop a new idea. Instead of playing the role of Nikola Tesla, play the role of Elon Musk. Worry less about inventing electricity. Worry more about using that technology to power your car. Look out for ways to apply new technologies, or even old technologies, in new and innovative ways that will impact lives.

Innovation is key for developing the next big product, but do not put too much pressure on yourself to be Tim Berners-Lee – he invented the world wide web. Instead, aim to be the next Mark Zuckerberg, whose name requires no further explanation.

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The wheel is already there, do not reinvent it. Re-imagine it.

Featured photo credit: Viktor Hanacek via picjumbo.com

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Last Updated on August 20, 2019

How to Find New Growth Opportunities at Work

How to Find New Growth Opportunities at Work

Career advancement is an enticement that today’s companies use to lure job candidates. But to truly uncover growth opportunities within a company, it’s up to you to take the initiative to move up.

You can’t rely on recruiter promises that your company will largely hire from within. Even assurances you heard from your direct supervisor during the interviewing process may not pan out. But if you begin a job knowing that you’re ultimately responsible for getting yourself noticed, you will be starting one step ahead.

Accomplished entrepreneur and LinkedIn Co-Founder Reid Hoffman said,

“If you’re not moving forward, you’re moving backward.”

It’s important to recognize that taking charge of your own career advancement, and then mapping out the steps you need to succeed, is key to moving forward on your trajectory.

Make a Point of Positioning Yourself as a Rising Star

As an employee looking for growth opportunities within your current company, you have many avenues to position yourself as a rising star.

As an insider, you’re able to glean insights on company strategies and apply your expertise where it’s most needed. Scout out any skills gaps, then make a point to acquire and apply them. And, when you have creative ideas to offer, make it your mission to gain the ear of those in the organization who can put your ideas to the test.

Valiant shows of commitment and enterprise make managers perk up and take notice, keeping you ahead of both internal and external competitors.

Employ these other useful tips to let your rising star qualities shine:

1. Promote Your Successes to Your Higher-Ups

When your boss casually asks how you’re doing, use this valuable moment to position yourself as indispensable: “I’m floating on clouds because three clients have already commented on how well they like my redesign of the company website.”

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Tell your supervisors about any and all successes. Securing a new contract or signing a new customer should be a cause for celebration. Be sure to let your bosses know.

2. Cultivate Excellent Listening Skills

Listen well, and ask great questions. Realize that people love to talk about themselves.

But if you’re a superb listener, others will confide in you, and you’ll learn from what they share. You may even find out something valuable about your own prospects in the company.

If others view you as even-minded and thoughtful, they’ll respect your ideas and, in turn, listen to what you have to say.

Check out these important listening skills: 13 Powerful Listening Skills to Improve Your Life at Work and at Home

3. Go to All Office Networking Events

Never skip the office Christmas party, your coworker’s retirement party, or any office birthday parties, wedding showers, or congratulatory parties for colleagues.

If others see you as a team player, it will help you rise in your company. These on-site parties will also help you mingle with co-workers whom you might not ordinarily have the chance to see. For special points, help organize one or two of these get-togethers.

Take the Extra Step to Show Your Value to the Company

Managers and HR staff know that it can be less risky – and a lot less costly — to promote from within. As internal staff, you likely have a good grasp of the authority structure and talent pool in the company, and know how to best navigate these networks in achieving both the company’s goals and your own.

The late Nobel-Prize winning economist, Gary Becker, coined the term “firm-specific,” which describes the unique skills required to excel in an individual organization. You, as a current employee, have likely tapped into these specific skills, while external hires may take a year or more to master their nuances.

Know that your experience within the company already provides value, then find ways to add even more value, using these tips:

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4. Show Initiative

Commit yourself to whatever task you’re given, and make a point of going above and beyond.

Position yourself so that you’re ready to take on any growth opportunities that present themselves. If you believe you have skills that have gone untapped, find a manager who will give you a chance to prove your worth.

Accept any stretch assignment that showcases your readiness for advancement. Stay late, and arrive early. Half of getting the best assignments is sticking around long enough to receive them.

5. Set Yourself Apart by Staying up on Everything There Is to Know About Your Company and Its Competitors

Subscribe to and read the online trade journals. Become an active member in your industry’s network of professionals. Go to industry conferences, and learn your competitors’ strategies.

Be the on-the-ground eyes and ears for your organization to stay on top of industry trends.

6. Go to Every Company Meeting Prepared and Ready to Learn

A lot of workers feel meetings are an utter waste of time. They’re not, though, because they provide face-time with higher-ups and those in a position to give you the growth opportunities you need.

Go with the intention of absorbing information and using it to your advantage — including the goals and work styles of your superiors. Respect the agenda, listen more than you speak, and never beleaguer a point.

Accelerate Your Career Growth Opportunities

A recent study found that the five predictors of employees with executive potential were: the right motivation, curiosity, insight, engagement, and determination. These qualities help you stand out, but it’s also important to establish a track record of success and to not appear to be over-reaching in your drive to move up in your company.

Try to see yourself from your boss’s position and evaluate your promote-ability.

Do you display a passion and commitment toward meeting the collective goals of the company? Do you have a motivating influence with team members and show insight and excellence in all your work?

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These qualities will place you front and center when growth opportunities arise.

Use these strategic tips to escalate your opportunities for growth:

7. Find a Mentor

With mentorship programs fast disappearing, this isn’t always easy. But you need to look for someone in the company who has been promoted several times and who also cares about your progress.

Maybe it’s the person who recommended you for the job. Or maybe it’s your direct supervisor. It could even be someone across the hall or in a completely different department.

Talk to her or him about growth opportunities within your company. Maybe she or he can recommend you for a promotion.

Not sure how to find the right mentor? Here’s How to Find a Mentor That Will Help You Succeed.

8. Map out Your Own Growth Opportunity Chart

After you’ve worked at the company for a few months, work out a realistic growth chart for your own development. This should be a reasonable, practical chart — not a pie-in-the-sky wish list of demands.

What’s reasonable? Do you think being promoted within two years is reasonable? What about raises? Try to inform your own growth chart with what you’ve heard about other workers’ raises and promotions.

Once you’ve rigorously charted a realistic path for your personal development within the company, try to talk to your mentor about it.

Keep refining your chart until it seems to work with your skills and proven talents. Then, arrange a time to discuss it with your boss.

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You may want to time the discussion around the time of your performance review. Then your boss can weigh in with what he feels is reasonable, too.

9. Set Your Professional Bar High

Research shows that more than two-thirds of workers are just putting in their time. But through your active engagement in the organization and commitment to giving your best, you can provide the contrast against others giving lackluster performances.

Cultivate the hard skills that keep you on the cutting edge of your profession, while also refining your soft skills. These are the attributes that make you better at embracing diverse perspectives, engendering trust, and harnessing the power of synergy.

Even if you have an unquestionably left-brain career — a financial analyst or biotechnical engineer, for example — you’re always better off when you can form kind, courteous, quality relationships with colleagues.

Let integrity be the cornerstone of all your interactions with clients and co-workers.

The Bottom Line

Growth opportunities are available for those willing to purposely and adeptly manage their own professional growth. As the old adage says,

“Half of life is showing up.”

The other half is sticking around so that when your boss is looking for someone to take on a more significant role, you are among the first who come to mind.

Remember, your career is your business!

More About Continuous Growth

Featured photo credit: Zach Lucero via unsplash.com

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