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Imagine your company sold just one sole product and yet managed to be successfulin a competitive market. It's a true story! How can you pull ahead and dominate your competitors? For starters, look at opportunity capture: accept that there is no product, process or service in the world that cannot in some way be innovated.
If you have ever asked yourself, ‘Why didn’t I see that?', you were experiencing an example of ‘Weak Signal Theory’. We are constantly bombarded with ‘weak signals’. Some of them are genuinely weak, while others are weak because our brain has suppressed them. This automatic filtering of information is quite natural and designed to prevent sensory overload. But it also means that we often overlook opportunities.
In his previous article, Roger La Salle challenged innovation practitioners to examine the rate of return on their innovation investment. Here, he explains how to set a time scale to obtain this return: "If you can have an early win with innovation then you can be sure more budget will be forthcoming and still greater achievements can be obtained." To find the low-hanging fruit (and the lowest risk) for your startup, the best place to begin is with Process Innovation.