"Fund what matters and fund it well. Innovation is not just a buzzword; it's an investment in the future of your company.” – Scott Ritzheimer
In this episode of Innovation Meets Leadership, host Natalie Born dives deep into the world of scaling businesses and the crucial role of innovation. Joined by Scott Ritzheimer, CEO of Scale Architects, they explore the power of finding a profitable, sustainable market, the delicate balance between systematization and creativity, and the importance of allocating resources for innovation. With insightful discussions on fostering a culture of innovation and the significance of embracing failure, this episode provides valuable insights for leaders aiming to drive strategy that demands innovation action.
Scott Ritzheimer is the Founder and CEO of Scale Architects. He has helped start nearly 20,000 new businesses and nonprofits and with his business partner started led their multimillion-dollar business through an exceptional and extended growth phase (over 10 years of double-digit growth) all before he turned 35. He founded Scale Architects to help businesses across the country identify the right growth strategies and find the right guides to get them on the fast-track to Predictable Success and stay there as long as possible.
[00:00 - 14:24] Cultivating an Innovative Culture
Scott discusses the importance of allocating resources and funding to cultivate an innovative culture that supports ideas that matter.
Embrace failure and the creative process as integral parts of fostering innovation.
Implement guardrails and documentation to bridge the gap between innovation and predictability.
Foster collaboration and seamless handoffs between innovators, implementers, and systematizers.
Identify profitable markets and allocate resources to bring innovative ideas to fruition.
[14:24 - 26:14] Navigating Growth and Success
Strike a balance between growth, automation, and innovation for sustainable success.
Document tribal knowledge and foster knowledge sharing to prevent information loss during growth.
Navigate predictable success by continuously adapting and innovating.
Understand your organization's lifecycle stage to address challenges at the right time.
Drive long-term growth and sustainable success through strategic focus and innovation.
"The real irony of predictable success is that it is inherently unpredictable. Embrace the tension between risk-taking and risk mitigation to create consistent success.” – Scott Ritzheimer
Connect with Scott
Check out Scale Architects at https://www.scalearchitects.com/
Listen to Natalie on Scott's Podcast: https://www.youtube.com/watch?v=w9bQ0mFAZYo
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