Business development can mean improving efficiency, increasing profitability, enhancing customer satisfaction or growing into new markets or disciplines.
Depending on the financial situation, the world economy, growth or consolidation phases, companies’ focus will differ over time. And, as a public company, your financial performance is presented in quarterly and yearly reports.
Whether you are a large venture capitalist or a private person with your private savings on the stock market, you can follow the quarterly and yearly results, where mountains of figures are presented plus the business outlook, deals won and company strategies. But where can I read about the KPIs for dreams and emotions?
I read lots of books, case studies and biographies about innovations, and most innovation success stories tie back to a single source—dreams and loving what you do. You had a dream you wanted to come true by making the product innovation a success. Dreams drive you through sleepless nights, working overtime, traveling to odd places or doing preparations on Sunday evenings (or writing a blog post at 23:00 on Monday evening).
How can you, as a company, share with investors the most important ingredients for new innovations, namely dreams and emotions? How can you, as a company, explain tools (e.g. company culture) and processes you have in place to mass-produce ideas that will later become profitable innovations? Is it possible to measure, communicate or even benchmark the ability of companies to create and share dreams in a financial document such as a quarterly report?
Well, I don’t have the answer here and now, but I welcome any input to my thoughts. However, I do want to share the importance of innovations for IFS, so please have a look at our new innovation web page.