While innovation is often associated with new products, new gizmogadgets, a broader perspective shows innovation occurring in many areas of a business and often has little or nothing to do with products.
Here are some key areas of innovation opportunity for a business venture ...
- Products (yes, still high on the list, of course!)
- Business methods
- Business model
- Revenue model
- Positioning (relative to the competition)
- Paradigm (a combination of several innovation areas)