week 10 class (How do we make entrepreneurs more attracted to innovation & creativity?

On the last decades, the market has been moving faster than ever forcing big companies to innovated for surviving but smaller companies also want part of that cake but with outputting all the effort that those big companies put. That is the reason why Copyright is one of the biggest problems nowadays.  idea-01-e1464582296545

Although the government has been creating different laws for protecting new inventions and developers a lot of people still prefer to copy instead of innovating. The problem is how we make innovation more attractive for those who want to start a business.

First, we need to understand all the reasons for the people to prefer copying than innovating that have to be with the environment, the economic limitations, valuing the innovation in the wrong way, avoiding “possible” risks and the existing rules. Part of the change comes from the business that decides to fund new ideas but also from the government who facilitated innovation and creativity creating new and better rules but the other part is knowing why is better to innovate than to copy.

Those reasons are the long-term success, value, inspiring others, blue ocean opportunities, loyalty from customers,   and new solutions for complex problems.

I will explain those reasons with a perfect example of an entrepreneur who decides to innovate and create a blue ocean with new opportunities and now is an inspiration for many others, the name of the company is Trunki. Trunki is a company who developed suitcases for kids with a design for the kids to seat on and wheels so they can travel with their parents in an easier and fun way and they can have their toys there with them.

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Long-term success

To focus on other benefits is important to see far than just the profits, to see what is next, what does the world need, how I can change the world. The owner of Trunki found a problem that no one ever realized before then he enters into a design process where he can understand the problem and what kind of solution is needed, and then he designs a product that gains value and market really fast because he understands the users and the needs.

 

More value

The value is created when the idea solves a real problem and gives a something else that creates a difference between you and your competition. Forgiving a better explanation we mention some values and its relation with Trunki as an example.

  

Point of difference

The differentiation of Trunki was founding a solution for parents with small kids, but also finding something fun for the kids where they can have their toys and use as a transport for the kids.

 

Adaptation to the market needs

Trunki found a necessity and solve it having in mind all the users from the parent, to the kid, but also they had in mind the different values for everyone making a product that suits everyone for the same moment.

 

Inspiring others

Trunki is a huge company that sells in different countries nowadays, but also it has been an inspiration for different companies to create products that can fit different needs.

  

Created an identity

Trunki began with a strong identity because they begin creating the company focus on their values not on profit and that makes them grow in a significant way.

Creating a Blue ocean means that you found a problem that right now no one has seen and that will make your product grow fast and smooth.Innovation will prepare you for solving complex problems effectively in uncertain business environments. That will also create loyal clients that connect with your values, and your brand creating a bond that will make the difference for you and your company.

As you could see it is important to innovate and that can be the difference between being a company who no one knows or is the company who everybody loves.

 

REFERENCES:

https://www.huffingtonpost.com/chris-dodd/copyright-empowering-inno_b_3417472.html

https://www.designforfounders.com/good-design/

https://www.trunki.com.au/collections/neck-pillow-and-blankets

http://www.imaginenation.com.au/innovation-blog/8-reasons-innovation-important-businesses-today/

https://link.springer.com/article/10.1007/s11187-008-9107-0

http://www.paggu.com/entrepreneurship/the-importance-of-innovation-in-entrepreneurship/

https://www.allbusiness.com/4-benefits-innovation-business-111251-1.html

https://www.huffingtonpost.com/daniel-burrus/creativity-and-innovation_b_4149993.html

https://www.ukessays.com/essays/business/role-of-creativity-in-entrepreneurship-and-innovation-business-essay.php

http://www.ipwatchdog.com/2013/07/31/copyright-policy-creativity-and-innovation-in-the-digital-economy/id=44251/

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