Balancing Incremental & Radical Innovation
Photo by Pexels
The phrase “slow and steady wins the race” makes many innovators roll their eyes. In reality, nothing is as straightforward as that.
In the classic fable of the tortoise and the hare, the tortoise wins by having consistent motion toward a goal - but had he strapped on some rocket boots and zoomed out ahead, the result would have been the same. True innovators know that repeated success requires both incremental and radical change, depending on the situation.
Both types of innovation can help your business maintain its competitive edge, so you must understand their differences and learn when it’s best to use one or the other. In this article, we’ll discuss what makes each type unique and offer tips for finding the balance that works best for you.
Understanding Incremental Innovation
Incremental innovation is the practice of making small improvements to existing products and processes. Its lack of explosive growth can make people write it off, but it’s one of a company’s most powerful tools.
Incremental innovation is a great way to keep your business on its feet and maintain customer loyalty, but it can also be dangerous if you rely on it too much. The key to successful incremental innovation is focusing on small changes that make a big impact over time.
For example, let's say you run a clothing brand that specializes in selling casual tees. To update your product line with an incremental strategy, you could start by introducing new colors or patterns for each season without changing the overall design of the shirt itself.
Benefits of Incremental Innovation
Incremental innovation can be a great way to keep your business competitive without taking unnecessary risks. It allows you to make improvements that don’t require a huge investment and won't disrupt your existing product line or customer base.
Furthermore, by focusing on gradual improvements, you can often identify potential areas for radical change before making any drastic moves. Incremental innovation also allows businesses to maintain a steady stream of revenue, as customers are more likely to purchase items they already know and trust.
This can help you stay afloat during times when sales may be slow due to external factors such as the economy or market changes.
Challenges of Incremental Innovation
Incremental innovation can be a great way to maintain your customer base, but it also has drawbacks.
If you make too many small changes without understanding what customers want or need from your products, you might create something that doesn’t solve their problem. You need to ensure that you are always going back to the customer and their needs.
Additionally, focusing on making small changes can lead to stagnation and discourage creativity. After all, if you’re only focused on minor updates and not taking any risks with bold new ideas, then there’s no room for real growth in your business.
Understanding Radical Innovation
Radical innovation is the opposite of incremental innovation: it’s when you introduce a new product or process to the market. This type of innovation is riskier, but it can also lead to greater rewards if done correctly.
With radical innovation, you have more freedom to experiment and push boundaries — so don’t be afraid to think outside the box. If your clothing brand wanted to make a big splash with its latest line, it could try introducing an entirely new style of tee that no one else has seen before.
Benefits of Radical Innovation
Radical innovation can help businesses stand out from the competition, and it’s the best way to capture customers’ attention. It also encourages creativity and helps keep employees engaged — if they know their ideas have a chance of being implemented, they’ll be more likely to come up with innovative solutions.
Plus, introducing something new could give your business an advantage over competitors who are still using traditional methods. If you develop a revolutionary product or service that no one else has thought of yet, you could quickly become known as an industry leader in your field.
Challenges of Radical Innovation
Like any major change, radical innovation comes with risk. If the new product or process isn’t successful, you could end up losing a lot of money, time, and respect.
The other challenge is that radical innovations often require significant investments in research and development. So if you don’t have access to adequate resources, this option may not be viable for your business. However, not being willing to invest in innovation is one of the largest detriments to finding the next big thing.
Incremental vs. Radical Innovation
Choosing the proper mode of innovation for your company needs to be a fluid and ongoing process. What works at one stage in your development may become unsustainable later on. That’s why it’s important to have an understanding of both forms.
Generally speaking, incremental innovation is best for day-to-day activities and short-term goals. Radical innovation, on the other hand, should be used when you’re looking to make major changes or create something entirely new.
The industry you're a part of will also affect the type of innovation you choose. If you’re in a rapidly evolving market, like technology or healthcare, radical innovation is often necessary to stay ahead of the competition. However, if you’re in an industry that doesn't move as quickly, incremental change may be all that's needed.
The best way to innovate is to use a hybrid model. When used together, these two approaches can help you create products and services that are both meaningful and profitable.
The key is to start with incremental change. It’s easier, faster, and requires fewer resources than radical innovation. Once you’ve established a baseline, you can then use radical innovation to make larger, more meaningful changes that will give your business a competitive edge.
The process may take longer than if you were just doing one type of innovation alone, but it allows for greater flexibility and creativity, ultimately leading to better results.
Developing a Balanced Approach to Innovation
Knowing where to start with your innovation efforts is often the hardest part. Here are some tips to get your tortoise in the race:
1. Make a Plan
You won’t know where to go if you don’t have an innovation strategy. Start by evaluating your current products or services and identifying opportunities for improvement. You can prioritize these opportunities based on potential impact and feasibility.
2. Utilize Incremental Change
Use incremental innovation to make small changes quickly, such as improving the user experience or streamlining processes. Make sure these changes are in line with the goal of radical innovation so that you can use them as a foundation for more significant improvements down the line.
3. Have the Right Tools
Balancing ideologies can become confusing if it isn’t handled properly. Investing in planning and problem-solving tools like Stormboard will help keep everything together and promote efficiency. We provide an intuitive, integrated workspace that every member of your team can use to reference the long-term plan, communicate ideas, and report back what they’ve found.
4. Always Look Ahead
Take a long-term view and focus on creating meaningful innovation that will help your business stand out from competitors. Radical change doesn’t happen overnight.
5. Allow Collaboration
Big innovation can come from anywhere. Make sure your team knows how they can communicate ideas with you and open up channels for user-driven innovation.
6. Measure your Success
It’s easy to drift when you are in something for the long haul. You must keep excellent records of each incremental change so you can adjust as needed and continue to evolve your product or service over time.
Final Thoughts
The race towards bigger and better ideas doesn’t have a clear finish line. Success won’t be found in the same way every time, so it’s important to have balance in your approach.
Make space for your team to brainstorm and have big ideas, while also giving them the tools to track progress and stay on track toward a larger goal. Having one reliable, company-wide tool that can tackle anything helps your organization do the same.
Balancing incremental and radical innovation can be complicated, but it’s also a clear path to overtaking any hares that might try to challenge you.
Stormboard’s mission is to help organizations in virtually every industry capitalize on the combined brainpower of employees - driving new efficiencies and fostering a collaborative environment for revolutionary ideas .
Click the blue button below and chat with one of our experts to learn how global leaders are using Stormboard to find the perfect balance of innovation strategies.
About the author:
A programmer by trade, Nick Saraev is a freelance writer and entrepreneur with a penchant for helping people excel in their careers. He's been featured on Popular Mechanics & Apple News, and has founded several successful companies in e-commerce, marketing, and artificial intelligence. When he's not working on his latest project, you can find him hiking or painting.
