Want to be innovative? Get out of the building.
That’s one of the key pieces of advice for anyone thinking about how they deal with digital disruption from Pete Cooper, a former manager in investment banking and now one of Australia’s leading startup mentors and a successful entrepreneur himself, having been involved in companies with exits to the value of $120 million.
It’s simple: being out talking to people who are tackling challenges similar or related to yours can help improve the flow of information and ideas back into your own work, enabling you to better react to emerging competitors and develop your own innovations.
“I’d encourage people to connect to a community,” says Cooper, who founded the conference now known as Startcon, Australia’s largest startup conference. He says there is a great “power [in] connecting to those curated communities and attending those events, and brainstorming with people in a relaxed way – because you need to be relaxed to brainstorm.
“If you’re up tight, doing a quarterly report to the board, and they say, ‘Right, now come up with an idea!’, with a whip poised above your head, you’re probably not going to be very creative.”
In this episode of Business Insider’s new business improvement podcast, Foundations, Cooper joins the show to discuss the range of tools and methods companies can use to make sure they are aware of what is happening in their industry and positioned to respond to new local or global competitors, emerging consumer trends, or digital innovations.
Priortising the ideas you can test best, setting up your business so that a range of activities can happen in parallel, and building collaborative relationships are some of the topics we cover in our discussion.
You can find the show on iTunes (where you can rate us and leave a review) or listen in below. Enjoy!
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