Innovate or Lose Fifty Per Cent of Your Revenue by 2016

Filed in archive Intellectual Property on August 24, 2006

The next decade as a business owner promises to be one of the most exciting, challenging, and tense periods in Canadian business history. If there was ever a prediction that should get the attention of every business owner and entrepreneur in Canada, this statement from the Conference Board of Canada is it... 50% of all sales will come from new or significantly improved goods or services.

The Conference Board [of Canada] says by 2016, one half of all sales by Canadian businesses will come from new or significantly improved goods or services. These changes, the board says, "will be driven by a powerful knowledge base, a new 'culture of commerce,' and global best goods or services in niche markets" that require a highly skilled workforce and collaborative innovation networks. Via the Business Edge

The next decade will require more innovation and creativity from business owners than most are prepared for - it is time for business owners, entrepreneurs, and business schools to begin to provide training and education programs around the topics of innovation and creativity.

Develop Your Creative IQ

It will be the single most important business strategy and activity over the next decade. It will require new a focus on developing new skills, like Creative IQ, which you can read more about in an article titled "How to Apply Your Creative IQ".

I know I am going to fill the gap with my clients in my coaching practice. What are you planning to do? What type of help and support do you need to become more innovative and creative? How does this prediction make you feel?