What is Innovation Consulting—And How Can It Help Your Business?
Undoubtedly, innovation is written in every successful company’s DNA. Look at Dropbox, Adobe, Salesforce, or Tesla as an example. It’s not possible to sell products that don’t correspond to technology development, market trends, and most importantly, the needs of the customer.
In contrast, some companies like Toys R Us or Kodak, who were market leaders at one point in time, failed miserably. They lost the entrepreneurial spirit they once had and ended up losing their customers. But you don’t have to worry; innovation consultants are here to bring your business up to speed.
The innovation consulting space is booming. Organizations are setting up new accelerators, incubators, or offices, and tons of internal/external hackathons are being organized globally. In fact, it’s reported that Facebook has organized over 50 hackathons to support innovation within the company since it first started. So, there’s no question that the market for consultants dedicated to innovation is gaining rapid expansion. But are innovation consultants really contributing the higher levels of success? Yes, here’s how.
What is innovation consulting?
A design and innovation consulting firm brings a combination of expertise, which includes everything from human-centered design and design thinking to product design.
They can work with you to think of approaches and ideas you haven’t taken note of before and develop a plan for the execution of your new strategy. Interesting, right? Let’s go through how this can benefit your business.
1. Helps rediscover a creative edge
A creative idea is what launches a company. But once that idea transforms into a business, it can get bogged down in red tape, paperwork, and day-to-day operations.
Here, an innovation consultation plays a huge role in offering an executive team space, time, and launching pad to focus on growth and vision.
2. Identifies and fixes broken processes
Some organizations do themselves a tremendous disservice when they continue to follow the same processes over and over again. This doesn’t just leave little room for innovation but can also perpetuate bad habits and inefficiencies that can limit business growth.
An innovation consultant will ask you some key questions regarding what processes you have in place and recommend better solutions and alternatives that can make a big difference in your bottom line.
3. Establishes metrics of success
Measurable success is the foundation on which most companies reward their employees. However, an innovation strategy should include opportunities for employees to focus on new ideas, and an innovation consultant can help you balance your innovative goals with daily commitments.
It doesn’t matter what your company's future goals are by giving employees the chance to plan, brainstorm, and test out new products/services; innovation consultation will help fuel further innovative thinking.
D Laer helps you achieve remarkable outcomes
D Laer offers strategic insights and innovative problem-solving services to businesses in the Middle East. Whether you’re looking for product management consulting services or design strategy consulting, D Laer has got you covered. As a global design and innovation consulting firm, we have a legacy of high-impact innovations, products, and services. Contact us today!