Beware of These 10 Myths About Innovation

Most people think innovation is all about ideas, when in fact it is more about delivery, people, and process.

Entrepreneurs looking to innovate need to understand the execution challenge if they expect their startup to carve out a profitable niche in the marketplace, and keep innovating to build and maintain a sustainable competitive advantage.

Everyone thinks they know how to make innovation happen, but I can’t find much real research on the subject. At the same time, myths about innovation are commonplace in business. Vijay Govindarajan and Chris Trimble, in their new book “The Other Side of Innovation: Solving the Execution Challenge” have done some real research on this subject over the past ten years.