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Service Innovation is Hot Business Trend

Innovation and invention are almost synonymous terms in American business because manufacturing has dominated our business world for so many decades. But with the information age came a rapid rise in service sector businesses.

Now that the Internet has transformed service businesses into "production studios" with products that can be delivered over the Internet, innovation has found a new home. Service innovation can take a company from a traditional revenue model to an endless variety of tech-rich models such as personalization, segmentation, rapid product development or online interactivity.

But...the innovation models still hold. They just have new twists, and some old-fashioned pits and problems. Take Intellectual Property, for instance. We still have Copyrights, Trademarks, Patents and Trade Secrets. But the broad development of these product vehicles combined with rapid development and deployment make a company think twice about which of the legal protections fit their product. A product today can be turned into additional products, sub-products, personal services, consulting, training, hybrid product/service kits, or even games.

My experience with high tech innovators as well as not for profit managers shows that a basic system for in-house product and service development is still the best way to meet changing needs with innovative solutions that give you and your company a unique revenue model. Uniqueness that covers all the competitive bases is what differentiation is all about. In the screenwriting business, for instance, that's called "the same but different." In independent retail, it's called "get it before the big box stores can find a rip off." In legal or accounting circles, it's called "keeping up to date with our customers' problems."

The A.I.M. System (Active Innovation Management) was developed to help small businesses cope with the new twists on product and service management, and produce a steady flow of innovative solutions that differentiate them from their competition.

Take a deep breath and repeat to yourself, "Change is my friend, change is my friend." And then go enjoy that innovative latte, boogie boarding at the beach...or any of the many innovative products and services that you have adapted to so very nicely!

Cheers, Carolyn