Innovation is often seen as the domain of tech giants and industry disruptors, but what about small and medium-sized enterprises? Are they at a disadvantage, or do they have unique opportunities to innovate faster than their larger competitors?
Bruce Vojak, founder of Breakthrough Innovation Advisors and author of No Excuses Innovation, joins the podcast to discuss why mature businesses struggle with innovation, the fears that hold them back, and the simple, low-cost steps they can take to start thinking differently. He breaks down the myths surrounding innovation and provides practical insights for business leaders looking to stay ahead of the curve.
[00:01 - 05:48] The Innovation Struggle for Small Businesses
Why mature enterprises often avoid innovation
Understanding the S-curve and business growth cycles
The danger of focusing only on efficiency instead of renewal
[05:49 - 10:33] The Three Barriers to Innovation
Expertise gaps in mature companies
Financial mindsets that resist risk-taking
The role of fear in preventing new ideas
[10:34 - 15:24] Culture as the Key to Innovation
How company culture can either unlock or stifle innovation
The balance between empowerment and accountability
Lessons from Hewlett-Packard’s Medal of Defiance
[15:25 - 20:00] Innovation Without Big Budgets
Why innovation doesn’t have to be expensive
Small but effective ways to start innovating today
The power of listening to customers for ideas
[20:01 - 24:12] Practical Takeaways for Business Leaders
Looking for patterns in customer behavior
Turning small workarounds into real innovations
The importance of a discovery mindset in leadership
"A lot of companies excel at streamlining operations, but few have the expertise to truly renew their business." – Bruce Vojak
"Innovation doesn’t have to be a massive initiative. It starts with asking the right questions and listening to your customers." – Bruce Vojak
Connect with Bruce:
Website: https://www.breakthrough-innovation-advisors.com/bruce-vojak/
LinkeIn: https://www.linkedin.com/in/bvojak
LEAVE A REVIEW + help someone empower their businesses through collaboration, innovation, and transformation by sharing this episode or clicking here to listen to our previous episodes.
Check Natalie's new book, SET IT ON FIRE: The Art of Innovation, available now at setitonfire.co
These are proven solutions to advance your leadership and innovation process. Check out our website innovationmeetsleadership.com, or connect with me on Linkedin, Facebook, Instagram, Twitter, and Youtube.
Don't forget to subscribe and leave a 5-star review. Let's go transform something!
SOCIAL MEDIA
QUICK LINKS
Innovation Meets Leadership
info@iml.how
CONTACT US