Today’s advice comes from Jim Clifton, CEO of Gallup since 1988, via Melissa Abbey at reesenews:“You see, the thing that no body knows in Washington, that nobody knows anywhere, is that innovation has no value whatsoever until a customer is standing next to it. That’s the big blind spot in human development right now. We don’t understand the value of a great business person alongside a great innovator.”
Clifton told his audience at Kenan-Flagler Business School at the University of North Carolina that there is a misplaced responsibility on innovation to create jobs. And subsequently, when there are no jobs coming out of that, we double-down on innovation.
His advice is to give that responsibility to the business model of entrepreneurship so that good ideas can actually come into contact with the people that will benefit most from them.
“Innovation is huge, but we’ve got to give it the right expectation. Which one’s the cart and which one’s the horse?… Innovation is definitely the cart, and entrepreneurship, the business model and commercializing ideas are definitely the horse. You need them both, but if you keep loading the cart we’re just going to keep staying right where we are.”
Want your business advice featured in Instant MBA? Submit your tips to [email protected]. Be sure to include your name, your job title, and a photo of yourself in your email.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.