Profitable Business Ideas …Creativity, Invention, or Innovation?

Thinking about profitable business ideas? Perhaps a business idea example? Where is your focus? Invention? Innovation? Creativity?

Check out our thoughts on building innovation.

More to think about: Generating Ideas by Convergent Thinking

We are always surprised by the number of our clients that don’t make a distinction between these concepts. Can you make the distinction?

On average, it takes about 30 years to go from initial discovery to significant market impact and we are about a decade into the next great transformation. That puts us almost exactly where those Xerox executives were in 1977. They had no idea of what personal computers would unleash and if we’re honest, we need to admit that we are in the same boat.

What we can do is recognize that there is a great transformation underway that will unlock possibilities and opportunities that are impossible to see clearly right now. However, it is more critical to explore than to predict and that’s what we need to do today. We don’t need to…