Success Comes When We Make Innovation As a Habit

When I heard the phrase, fast fish eating slow fish, I thought about the importance of how alert an entrepreneur should be to stay afloat in the era of technology obsolescence and evolving economic dynamics. In fact, the earlier scenario where traditional people like us confronted was big fish eating small fish. In politics as well as in business this has been a common phenomenon. We live in an era where fast fish eats slow fish where entrepreneurs who closely follow the trends and respond to them with agility will survive at the expense of slow decision makers.

As new challenges are emerging, there is nothing like 100% sure shot ways to make businesses profitable or careers enriching. But when I observed 90% of the start-ups fail due to lack of innovation, I have decided to pen down my views to cultivate the habit of innovation among students or youth who have high aspirations.

Innovation Applicable to Families Also!

Leave businesses, if one is not innovative one finds it difficult to lead even family lives also. If the wife is a continuous learner, risk taker, and productive she will overtake her husband in finances as well as intellect. This will lead to the inferiority complex in the mind of husband, lack of respect from children, relatives leading to complications in relationships. To avoid this, start from families the habit of innovation. This will give children the right message.

Creating Future?

Changes make many perplexed. Market scenario constantly changes and that is one of the reasons the courses students learn suddenly becomes irrelevant. Youth may wonder, what is in store for them? The answer to this question is uncertainty. Then another question may arise, does this mean we give up? I will suggest no, as management guru Peter Drucker has answered this, "The best way to predict future is to create it." Now, let us consider how we can predict the future. The answer lies in ideating with the help of relevant research.

Identify a Mission

Dr. Kalam further stated, "To succeed in your mission, you must have single-minded devotion to your goal." You may be a student or an aspiring entrepreneur intending to launch a start-up. For that first of all, you need to ideate with the help of research.

Be Thinkers, Research, Make Clear Presentation

Ideating doesn't come easily. For that one has to think. Let us turn to Dr. Kalam who exhorted, "Have an aim in life, continuously acquire knowledge."

Let us stop job seeking, have career trying instead where you put your heart and soul into knowledge and its applications. To realize your career dream, you need to acquire specialized knowledge in your career stream. Not all, but some may ask, how? Suppose your goal is to be a structural engineer, research on the job description of that position. There you can find specialization like making calculations about loads and stresses.

If you have a fair knowledge about the excess load that may cause structural failure, you can show your value proposition to your employer. But do this with a case study approach. Case studies are substitutes for ancient storytelling. Therefore, have an eye on case studies that appear in websites. Develop knowledge, observe structures, ask questions, observe failures, and create your niche knowledge and see whether you can add more value to the processes. This is one case you can find a career.

To find a career in any domain, the procedure is same. Specialise in one core area that matches your aptitude.

Execute Ideas after Consideration

Awareness, consideration, and conversion - that is the rule in marketing. Whatever you ideate you need to execute or convert into action. If you have a strategy of learning lessons from failure analysis, you can execute a plan with low risk. Today, the recipients of products and services have high expectations. The only way to survive in the market is by offering goods and services of superior quality. Apply the same approach to education also. The thrust here is there should be a mechanism to regularly connect with the businesses and understand niche requirements and develop custom content to make students employable. There should be a constant emphasis on the expectation of quality of product and services. This will make them prepared to meet uncertainties with ease.

Role of Institutes

Finally, product knowledge or specialization alone will not fetch result. Knowledge of marketing alone will bring the desired results. My point is marketing should not be confined to MBA students. Students should get a crash course in marketing, how or why companies advertise and for whom. Education institutes should inform their students clearly that the purpose of a business is to create a customer.

Educational institutes should have a policy to encourage students on career-related content development networking with companies and industry thought leaders. They should invite industry thought leaders to conduct seminars on skill requirements to make students ready for the career. Be it arts, science, engineering, or technology; education institutes can create effective executives for India Inc., along with the steps mentioned above.

Let Us Together Foster Excellence

Let me come back to the key theme - fast fish will consume slow fish. You may be a student or an entrepreneur. But you need to understand time is premium and redeeming the time with specialized knowledge, tailored communication, and efficient execution to become fast fish and be relevant to the markets. Finally, remember the advice of Bharat Ratna Dr. Kalam, "Excellence is a continuous process." Have a strong determination to be successful by remembering the vision of Dr. Kalam.

One can be successful with making innovation as a habit

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