4 Tips for Entrepreneurs to Jumpstart Innovation

Entrepreneurs tend to be some of the bravest people in the business world. Let’s be honest – it takes guts to build something from the ground up, with no blueprint besides your own vision. However, even within the entrepreneurial community, there are different levels of risk. Starting a local coffee shop might take some of the same skills as a startup, but one of the key differentiators is innovation. To truly venture into a new space takes something special, and it’s this “something” that Ben Lightburn, CEO of Filament Health, has managed to nail down after scaling the world’s first natural psychedelics company. Truly unique missions such as these can scare off skeptics, however, it’s the same missions that result in equally great innovations. Here are some tips for those looking to do the same and for entrepreneurs paving their own path.

1. Find The Blind Spot

As an entrepreneur, much of your success comes from believing that you can do things other people think are impossible. This – sometimes stubborn spirit, allows entrepreneurs to push forward even if no one else believes in the idea. For most people this might seem like a crazy concept, but any good entrepreneur understands that a great idea is not always met with appreciation and fanfare. Rather, truly great ideas can often scare people as change isn’t always easy to embrace.

This is especially true in the alternative health space and is part of the entrepreneur’s dilemma – you have to get used to people telling you that your ideas will fail. Often these people are experts in your field.

2. Get the A Team (or, get the old band back together again)

Make sure to create and maintain a team that you trust and believe in. Get to know everyone’s strengths and weaknesses. At the same time, you must be candid and open about your own. Steve Jobs famously said that “It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.” I believe that you should hire the best and then step back to let them do their work.

The capabilities of a strong team can make a difference when working at the cutting edge of any industry. In order to innovate, companies need to move fast and having an efficient team makes this possible. For example, finding team members that have already worked together, or people you know and trust. At the end of the day, it’s all about the team. This sets you ahead of organizations that are bringing people together for the first time, in a new industry.

3. Agility And Creativity

Even though you may be doing something that’s never been done before, there’s a good chance someone else is close on your tail. With any new innovation, it’s only a matter of time until a larger brand tries to jump on the bandwagon, and potentially outperform you with greater resources.

A company must be able to pivot, try new ideas, and rapidly see them through, in order to stay one step ahead. This doesn’t mean abandoning the overarching mission yet you must be flexible enough to remain open to improvements. Uber may have begun as an extremely niche service of black cars for local VIP trips, however, it was able to rapidly incorporate new aspects to its business model while ultimately keeping the greater mission in mind. Similarly, Filament has needed to constantly shift to keep up with regulatory developments, new technologies, and new competitors. Yet this can become a strength if done correctly, pivoting in the right direction.

4. Recognize Your Privilege

There’s an aspect of privilege in everything we do, therefore it’s crucial to recognize this and give back, whether it’s to your workers, partners, or loyal customers that make all of it possible. When building a startup and pioneering a new field, it’s important to maintain your foundation, and returning goodwill is a key piece of that. 

See What Works

Ultimately there is no exact blueprint to follow when innovating in uncharted territory, the key is finding the lessons that apply to your personal journey. Steve Jobs used to say that you have to tell the customer what they want, they don’t know themselves. The opposite applies for entrepreneurs like Steve Jobs, Mark Zuckerberg, and Ben Lightburn who have forged their own path. Sometimes your best mentor can be yourself.

News Related

OTHER NEWS

4 Marketing Strategies That Will Turn Your Customers Into Billboards for Your Business

People love to talk about great experiences. After all, when you really enjoy something, it’s human nature to want to tell others all about it! As a business owner, your ... Read more »

Peloton Shares Rise After CEO Writes the Company is Considering Layoffs: 'We Now Need to Evaluate Our Organization Structure and Size of our Team'

On Thursday, Peloton CEO John Foley sent a memo to the Peloton team in the form of an open letter on its website, firing back at a report by CNBC alleging to have ... Read more »

In the Big Tech Metaverse, is privacy an option?

The world’s largest companies go all-in on Metaverse, an alternative virtual reality world combining work, leisure, services and more. While they look for the best way to make everyone join ... Read more »

Why Is The Airline Industry So Concerned With The 5G Network?

While AT&T Inc (NYSE:T) and Verizon Communications Inc (NYSE:VZ) announced ambitious plans to deploy 5G services in the U.S., the airline industry has raised concerns about how this technology could ... Read more »

How to Be More Courageous in Life

Do you have a lot of fears in life? Are you struggling with the fear of failure, the fear of uncertainty and the fear of success? You don’t have to ... Read more »

An Inspiring Interview with Steve White, President, Special Counsel to the CEO of Comcast

Do you let circumstances define who you are, or do you take charge of your life no matter how challenging it is? I have the pleasure to interview Steve White, ... Read more »

Silver Jewellery Startup GIVA Raises $10 Million In Series A

Bengaluru-based silver jewellery startup GIVA, has raised  $10 million in its Series A funding led by Sixth Sense Ventures, A91 Partners and other marquee investors like India Quotient, Grand Anicut ... Read more »

Cloud Tailor Raises $1 Million In Pre-Series A

Cloud Tailor, a D2C platform that enables personalized women’s fashion, has raised $1.0 million in its pre-Series A round led by 35North Ventures and Mergerdomo. Pexels Two of Cloud Tailor’s ... Read more »

Big Tech Uses Data to the Detriment of Consumer Health, But We're Addicted. So What's the Solution?

As was brilliantly chronicled in the 2020 Netflix documentary The Social Dilemma, much of tech today uses data to tap into the human brain in a way that is detrimental to ... Read more »

Technology Startups Are Redefining Clean Energy

Humanity has changed rapidly this past decade. We carry cameras in our pockets, have the knowledge of the world at our fingertips, and are now entering the Metaverse. It’s clear ... Read more »

When You Work With A Strong Vision, Goals Become A Reality: Proved By This Young Entrepreneur Of Dubai

Most of the time, what we hear from people around us is how one needs to change lifestyle and inculcate great habits to create a more fulfilling life for oneself ... Read more »

How This 28-Year-Young Entrepreneur Reached Astounding Heights Of Success In Entrepreneurial World

There are many individuals who have broken the barriers and emerged as true winners in every sphere, especially the entrepreneurial realm, which has seen many enter into it and make ... Read more »

5 Easy Expense Decisions Entrepreneurs Can Make in 2022 to Increase their Impact

I love the energy of the new year. Ideas feel limitless, and possibility is everywhere. It’s an opportunity to make thoughtful tweaks in our personal and professional lives. The kind that ... Read more »

Why getting Congress to fund help for US children in poverty is so hard to do

The Build Back Better bill, the centerpiece of the Biden administration’s domestic policy, cleared the House of Representatives by a slender margin largely along party lines in November 2021. Mario ... Read more »

Agrowave Raises $2 Million In Pre-Series A

Agrowave, an agritech startup building a supply-driven farm-to-market mobility supply chain with focus on first-mile logistics and trades supply through an integrated network of mobile pickup stations, has raised $2 ... Read more »

Your Expert Opinion vs. the Customer's Wants

Behind the Review host and Yelp’s Small Business Expert, Emily Washcovick, shares a look at this week’s episode of the podcast. It’s okay to be particular about who’s touching your hair. For her first dye job, ... Read more »

Horrifying Video Shows Amazon Driver's Run-In With a Giant Bear in Driveway

Things could have ended bear-y badly for one Amazon delivery man in Upland, California. RingAmazon driver has run-in with bear One family in the rural town had been frequently getting ... Read more »

Decoding the Ethical Concerns With Respect To Technology

It was once said by Martina Navratilova that “Security used to be an inconvenience sometimes, but now it’s a necessity all the time.” The statement is indeed true. Humans at ... Read more »

Military Veterans Make Great Entrepreneurs, But Startups Aren't the Only Path to Success

We officially founded our non-profit organization VETtoCEO in 2013 and have been delivering an online entrepreneurship program specifically designed for military veterans since 2012. Our Entrepreneurship for Transitioning Warriors program ... Read more »

What to Consider When Making a Real Estate Move

Small business expansion is not an idea often explored until startups hit an inflection point in their business, usually tied to a growth event such as a new financing round ... Read more »

Man Awarded $9.4 Million After Being Served a Glass of Sanitizer Instead of Water at Cracker Barrel

At the onslaught of the coronavirus pandemic, sanitizer and cleaners quickly became coveted resources as suppliers and sellers tried to keep up with demand across the board. Education Images | ... Read more »

From Near Bankruptcy To 8 Figures: An Entrepreneurs Story Of Stocks, Online Business And Never Giving Up

Ahmed Alomari started out a small town kid from Michigan with big dreams of financial freedom. Handout In the last 7 years Ahmed or GMoney as he’s popularly known as ... Read more »

Federal Realty Investment Trust (FRT) Dips More Than Broader Markets: What You Should Know

Federal Realty Investment Trust (FRT) closed the most recent trading day at $123.40, moving -1.77% from the previous trading session. This change lagged the S&P 500’s 1.1% loss on the ... Read more »

Jeff Bezos Gets Roasted on Twitter, Compared to Evil Villain After Amazon Announces New 'Lord of the Rings' Show

Amazon’s Prime Video has long been teasing an original series based off of the fan-favorite Lord of the Rings series. Twitter via Jeff BezosTwitter via Jeff Bezos Though not much ... Read more »

Protect Your Business by Becoming a Cybersecurity Analyst

Cyber attacks on small businesses were on the rise in 2021, with 44 percent of small businesses reporting that they experienced a cyber attack. As such, cybersecurity is no longer just ... Read more »

Figaro's Pizza Inks Pact With FranGlobal To Expand In India

Figaro’s Italian Pizza has inked a deal with FranGlobal to open  hundreds of outlets throughout India over the next 25 years.  Pexels With this, Figaro’s Pizza, which is one of ... Read more »

The Dynamic Nature Of Social Media Has Fostered the Concept Of Blitzscaling

Businesses are getting more sophisticated as the decades pass. The traditional model of scaling an organization from one location to thousands of locations through large capital expenditures is being replaced ... Read more »

Autodesk (ADSK) Stock Moves -0.76%: What You Should Know

In the latest trading session, Autodesk (ADSK) closed at $252.41, marking a -0.76% move from the previous day. This change was narrower than the S&P 500’s 1.1% loss on the ... Read more »

How to Break Into the Creator Economy in a Digital Age

The way we consume entertainment and news has shifted tremendously within the past decade. Whereas once we relied solely on TVs or news outlets to consume information, now we tune ... Read more »

Securely Store Passwords, Payment Info, and More in One Place

For entrepreneurs, it’s crucial to stay organized. You’re running a business and you’re in charge of important decisions and accounts for both your business and employees. You can’t keep going ... Read more »

Lemonade (LMND) Gains As Market Dips: What You Should Know

Lemonade (LMND) closed the most recent trading day at $31.60, moving +1.09% from the previous trading session. This move outpaced the S&P 500’s daily loss of 1.1%. Elsewhere, the Dow ... Read more »

Livent (LTHM) Dips More Than Broader Markets: What You Should Know

Livent (LTHM) closed the most recent trading day at $22.74, moving -1.6% from the previous trading session. This change lagged the S&P 500’s 1.1% loss on the day. Meanwhile, the ... Read more »

4 Things to Know About Online Reviews (and Why You Can't Afford to Ignore Them)

For many business owners, brand reviews on sites like Yelp, GMB and other review platforms may sometimes seem a little like background noise — unavoidable and always there, but also easy to ... Read more »

Searching for a Franchise for the First Time? Here are 6 Tips to Consider

With over 3,000 different franchise concepts to choose from, the intense search to find the perfect match for your goals, income potential and lifestyle can leave you chomping at the ... Read more »

Khelgully Raises INR 3.1 Crore In Seed Funding

Bangalore-based social e-sports RMG platform, Khelgully, has raised INR 3.1 crore in Seed funding round led by Titan Capital, along with prominent angel investors. Pexels  Khelgully operates on the real ... Read more »

How Newsletter Sponsorships Can Maximize Your Marketing

You want to maximize your marketing efforts and be where viewers are as a business. But very few are using the sponsored newsletter to grow their customer leads. Newsletter sponsorships ... Read more »

5 Marketing Strategies Business Owners Should Start in 2022

Though infinitely better than 2020, 2021 had its own unique challenges. With 2022 off to its start, it’s a chance to start fresh and do all the stuff we swore we’d ... Read more »

Danaos (DAC) Gains As Market Dips: What You Should Know

Danaos (DAC) closed at $81.87 in the latest trading session, marking a +0.83% move from the prior day. This change outpaced the S&P 500’s 1.1% loss on the day. Meanwhile, ... Read more »

Endo International (ENDP) Stock Moves -0.9%: What You Should Know

Endo International (ENDP) closed the most recent trading day at $3.32, moving -0.9% from the previous trading session. This move was narrower than the S&P 500’s daily loss of 1.1%. ... Read more »

Starting a Successful Startup: A Founder's Journey

Building a million-dollar venture and startup from scratch isn’t easy. Rishabh Jain, founder and CEO of Shiftal, talks about how he gave life to his brainchild and what happened behind ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic