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Companies which achieve to take off thanks to the ideas (Expansión)

In order to turn creativity into money, it is necessary to transform it to innovation, a concept which only the most profitable companies can raise. Running is no longer an activity to disconnect and give up the pressure, as mobile devices  include programs which help measuring the exercise performance.

“Nike keeps improving its popular iPhone application by adding a GPS medium. This advertising is an example of companies which have innovate by means of an alliance which allows them to increase its result account, because what do a pair of trainers and technology have in common? Nike and Apple have found the relation which took them to participate in the same race, but with a different number. “Creativity means to join ideas which weren’t linked before.  Innovation means putting those ideas into practice”, claims Juan Carlos Cuberio, Eurotalent’s president. “Innovation is the part which generates revenues”, adds Javier Rovira, Know How’s associate director and professor at ESIC. Fernando Trías de Bes, professor at ESADE and co-author of “Winning at innovation” together with Philip Kotler, specifies that “in the business world, innovation is impossible without creativity. But creativity without innovations is useless and sterile, because it doesn’t produce relevant issues”

This article highlights the need of innovating in order to take profit of creativity.  That is, creative ideas must be put into practice by innovation. Creativity mans to join ideas which weren’t linked, and innovations means to put them into practice. Consequently, it is important not to forget those concepts when transforming ideas into business concepts.  

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Monster High: The salvation of the giant Mattel (Expansión)

Faced with the threat of MGA Entertainment supremacy,  the company Mattel has created the Monster High. This friend group so similar to the Bratz, has revolutionized the market this Christmas, it has gained the recognition from the whole toys world and has got the glory back to Mattel. It is an example of how in a crisis situation, some companies make the best of themselves and create what seemed impossible in the past."

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The use of social networks to test ideas before trying to sell them (The New York Times)

When starting a business, some business men dedicate a lot of time to choose the company name, to design its logo, to print business cards or to improve the packaging even before knowing if they have a viable product or service. Nowadays, there is a better way: social media has become the best tool to research markets. 

Thanks to the social communication media – Twitter, Facebook, Google+… - companies, specially the little one which have less resources, have now the capability t determine what their clients want and how much they are willing to pay. Both companies and customers are now willing to share their experiences and express their opinions and points of view.

It is not necessary to go out of the way when analyzing the market before launching a new business idea. Thanks to the new technologies and the social networks, the world is in a continuous information exchange.  Consumers are now desirous to collaborate with companies and express what they want or need, and how much are they willing to pay for it. Why shouldn’t those companies take profit of this opportunity, reduce costs and assure a good reception of the new idea in the market?    

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From Idea to Business: Follow Your Dream (Forbes)

¿Which is the origin of inspiration? Most of the business men who come to tell me ideas come as if those where gold mines. They weigh up thousands of lacklustre stones until they find a shining one. 

There are many good ideas. ¿Which ones should be selected? As an investor who checks thousands of business plans each year, I recommend above all to investigate those aspects:

  1. Technology distribution
  2. New resources discovery
  3. Demographic changes
  4. Lifestyle and change choice
  5. Economic changes
  6. Calamities
  7. Government changes 

Each of those categories contains new and unique niches with potential profits.

It is necessary to innovate by generating successful ideas. It requires knowing how to select the master idea with prudence. In this article some advices to carry out a good idea selection and transform them in profitable business are provided.  

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