Think Big, Act Small

As every entrepreneur knows, innovation is essential in order to stay ahead of the competition and also to preserve the company’s right to exist in today’s competitive marketplace. But many entrepreneurs are unsure of the approach to take. How should you go about innovating? Where should you start?

They often begin with a research project to see whether their idea can be turned into reality, and at what price – and if there is actually a market for it at all. To a certain extent there’s nothing wrong with thinking ahead a little. But the danger lies in spending too long at the theoretical stage. In practice, a drawn-out research process as a way of delaying the investment decision is costly and energy-draining. Furthermore, it results in nothing – apart from reports that end up in a drawer.

In my view, you can better skip this theoretical exercise altogether. Move straight on to the action phase! Just do it – not on paper but for real, in the marketplace. Don’t go big immediately but start off on a micro scale. That places the minimum burden on your focus on the matters at hand and the budgets that they require.

And if it doesn’t work out, it’s not the end of the world! Simply analyse why it didn’t work out, draw your own conclusions and move on to the next idea. If it does work out, and if you see potential to scale up what you’ve been doing on a micro scale, then your investment of time and money will be relatively safe. Taking lots of little steps rather than a few big ones helps you to stay agile in the increasingly fast-changing marketplace.
And the worst thing that can happen is that you learn something along the way! 

Dennis Favier is a professional Food Designer and Creative Director at innovation company TOP BV and translates technological innovations into interesting applications.