In view of the coronavirus pandemic, we are making LIVE CLASSES and VIDEO CLASSES completely FREE to prevent interruption in studies
Entrepreneurship – Creativity and Innovation

Principles of Innovation

One of the key qualities an entrepreneur must possess is innovation. It is what helps him take his ideas and successfully convert them into a business. So let us take a look at some of the principles of innovation that an entrepreneur must abide by.

Suggested Videos

Play
Play
Play
Arrow
Arrow
ArrowArrow
SWOT Analysis
Need and Function of Entrepreneurship
Entrepreneurial Competencies and Motivation
Slider

 

Principles of Innovation

Innovation is a fresh perspective to look at a thing or a situation. It is a new way to do things, approach situations, interact with people and many other things. Innovation and creativity somewhat go hand in hand. And both are extremely important in entrepreneurship.

Principles of Innovation

(Source: PhilMcKinney.com)

Now let us take a closer look at some principles of innovation. These principles are given to us by the great visionary and innovator Steve Jobs in his book “The Innovation Secrets of Steve Jobs”.

1] Do What You Love

Steve Jobs says he truly believes that people with a true passion can change the world for the better. New and creative ideas come to people who follow their passions with hard work and persistence.

2] Put a Dent in the Universe

This refers to the vision a person has about their business. Entrepreneurs need to widen their visions with innovation which allows them to see the potential in things that other people cannot see.

3] Kick Start your Brain

Steve Jobs once said that creativity was about connecting things. This means we must seek innovation and creative ideas from other industries as well. The inspiration for innovation can flow from anywhere and at any time. Steve Jobs was known for using ideas from other industries too and innovating them for his own purpose.

4] Sell Dreams, Not Products

This talks about innovation in the process of marketing. The idea is to make the customers feel a part of the company, i.e. a part of something bigger. Innovate the products that facilitate people in achieving their dreams. Steve Jobs never saw people who bought his products as consumers, but as geniuses themselves.

5] Say No to a Thousand Things

This principles of innovation speak about innovation by eliminating unnecessary things. The idea is to keep your products and their designs simple, functional and uncluttered. Innovation is not always elaborate, it can also lie in simplicity.

6] Create Great Experiences

Creating an emotional bond with your customers through innovation will ensure they have great experiences with your product and your brand. Take for example the Apple Store that Steve Jobs innovated. He made it an unbelievable retail experience for the buyers.

7] Master the Message

Steve Jobs is one of the worlds greatest storytellers. And with the help of innovation, he tells his stories through his products. His elaborate product launches and promotions were almost an art form. He made sure that his product was launched with innovation so as to get people excited about the product.

These seven principles of innovation by Steve Jobs can ensure that innovation becomes an integral part of the DNA of your company. A new and upcoming entrepreneur can learn a lot from these principles, and apply them according to his business.

Share with friends

Customize your course in 30 seconds

Which class are you in?
5th
6th
7th
8th
9th
10th
11th
12th
Get ready for all-new Live Classes!
Now learn Live with India's best teachers. Join courses with the best schedule and enjoy fun and interactive classes.
tutor
tutor
Ashhar Firdausi
IIT Roorkee
Biology
tutor
tutor
Dr. Nazma Shaik
VTU
Chemistry
tutor
tutor
Gaurav Tiwari
APJAKTU
Physics
Get Started

Leave a Reply

avatar
  Subscribe  
Notify of

Stuck with a

Question Mark?

Have a doubt at 3 am? Our experts are available 24x7. Connect with a tutor instantly and get your concepts cleared in less than 3 steps.

Download the App

Watch lectures, practise questions and take tests on the go.

Get Question Papers of Last 10 Years

Which class are you in?
No thanks.