Andrew Hiddleston Talks About Innovation Vs Invention In A Quest For Business Success

TORONTO - April 5, 2013 - PRLog -- In light of his quest on eternal if not permanent business success, Andrew Hiddleston on LeanMeanMarketing’s most recent business news deliberates his valuable research to the world.

The million dollar question:
Which proves to be more effective in line with business? Coming up with an invention or seeking innovation? Small things produces big results. (http://www.leanmeanmarketing.com/test-results-small-change-produced-big-result)

Hiddleston begins, “As business owners, either online or offline, we sometimes get stuck in that perpetual cycle of wanting to come up with the “next big thing” whether that's a service, a product, a piece of software, or whatever it is that will positively influence the course of business.”

He reasons, “Generally, we always want to come up with the new big greatest thing, the big invention, or maybe that one shot that might make you rich or richer and you might never have to work again in the future after.”

Indeed, most businessmen do business because of profits. So when you have a chance to hit at it, go for it!

“I say, it's much more advantageous for you to look at it (approach) from an innovation perspective instead of an invention perspective.” according to Hiddleston.

He compares and contrasts the two subjects:

First is invention.

“One. Typically, an inventor is often up against an unproven market. They invent. I mean, remember they're inventing something that doesn't exist, which means the market is still unproven.

Two. There's a lot of time or money or resources committed to the invention to either coming up with the idea or to actually produce whatever the invention or the service is.

Three. The third thing is that very often the inventor doesn't actually profit as much from their invention and that's what's most interesting. Now I know of course there are some very famous inventors who did profit and became extraordinarily wealthy from their inventions but on the whole most investors don't.”

Next, innovation.

“It's the innovators that actually profit the most and here's why - when the innovator comes along, often times the inventor has already established that market and proven that there is a market there and that there is a demand for the product.

http://www.youtube.com/watch?v=DgFwq1J1TzU



“So right off the bat, you're at an advantage. If you're innovating, which means building on an already existing idea and you innovate on it, often times you can do it with a lot less resources, both money and time commitment; so that's another important consideration. And thirdly because of all this, the proven market, less cost to develop your item and to bring it to the market, often times the innovator will actually be the one that profits the most from the idea. That's an important thing to remember.”

Lastly, he cautions a bulls eye, “Instead of trying to reinvent the wheel and coming up with the next greatest thing, spend some time looking at your market and determine what you can innovate on and provide some extra value and improve upon, whether there already may be an established market.”

Anyone interested to know more about Andrew Hiddleston and company LeanMeanMarketing are welcome to visit http://www.leanmeanmarketing.com/free-stuff for more business strategy hints, tips and information.

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Stela Benitez
LeanMeanMarketing
http://www.leanmeanmarketing.com/contact-us
Toronto, Canada