By Chidomere Ndubuisi

- January 11, 2023

Dear CEO,

I had a business challenge yesterday that showed up inform of a big distraction but for my credibility sake, I have to make out time to talk about the simple ways of creating innovation hub in your buainess.

Most businesses are struggling because they don’t understand nor define what innovation is to them, they don’t identify what is important to their mission, a definite plan of where they are headed to and the future role they will play in their industry.

Businesses must treat innovation with the same commitment and seriousness they give to finance, marketing, sales and operations.

To create this Innovation hub, you have to know what innovation is. To me, its a unique and novel solution to an important problem that has commercial value.

With this understanding, you can map out an innovation space for viable solutions in your business and build a community of competent and high performing people around it.

First, go through the ideation stage, announce the program with a unique name. Identify and encourage your inventors, intrapreneurs and diligent team members to join.

Actually seek out a correct problem and not just an amazing idea. choose problems that suits your business capabilities, cultures and strategies. E get why!!!!

Ask the right questions and have your innovation team do extensive research on what works best. You must have a research and development centre.

Seek addtional right tools and talents, Network with platforms or ecosystems that have talents and technologies you can partner with.

Create a mutual bond of understanding and love with your innovation hub. Let them pay attention to each others needs and concerns.

Protect the intellectual property and have a reward system for the ideas generated, having all their interest taken care of.

Don’t overestimate the change that will occur in the next one year and underestimate the change that will occur in the next ten years. Define your timelines, milestones and deliverables.

Creating something fundamental is usually slow, painstaking, and energy-draining. If you innovate and fail, don’t be discouraged; try again. Thomas Edison tried 1,000 times and failed, but considered each failure a step forward.

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