What is Your Business IQ?

What is Your Business IQ?

The question is not related to your personal or business intelligence, it is your business Innovation Quotient (IQ).  Your business IQ is connected to how you manage change and performance improvements in all facets of your organization, from operations to product. The origins of the word innovate go as far back as the 16th century.  It is simply introducing something new or different.

There are some companies that are perceived to “own” innovation and are frequently on lists of the most innovative companies. Expected and recognized mainstream mega brand companies like Apple, Google, Amazon, Nike, Target, Coca-Cola recently topped Fast Company’s 2013 Most Innovative list, along with newer innovators like Pinterest, Sodastream, Tesla, and Yelp . They all have visible innovations and a high “product” IQ.  We come to expect they are doing something new and different all the time.  What we do not see is how these businesses innovative internally. How they get on these lists takes more than smart, cool products. We don’t know how often they change employee policies, management teams, adopt new software programs or retire practices that no longer get results – unless you are Melissa Mayer of Yahoo!

What is your business IQ?  How often are you “innovating” the 4 P’s: product, people, processes and policies?  If you were to rate how innovative your company is today, on a scale of one to 100, with 100 being the most innovative, where do you rank?  If you are never changing, you probably have a low business IQ.  If you are always changing, your business IQ should be close to 100.  The most realistic place to be, without completely disrupting or killing your business, is to aim for above 50.

If you are an innovative trailblazer with a high IQ, congratulations and press on!  It is difficult to stay on the forefront and constantly introduce “new” into a business. Trailblazers make change and as a result, often make money. They innovate, pivot and innovate again. Maverick companies with high business IQ are in a continuous cycle of innovation and change.

If your business is lacking in the innovation department, it may be time to set new company standards.  If you asked everyone on your executive team to provide you a recommendation of an old idea or way of doing something that needs to be retired, without measure of cost or risk to the business, what do you think would be on the list?  Perhaps it is time to find out.  Innovation begins by identification.  Where there is opportunity in your business to innovative, there is opportunity to improve.

Old or young, businesses need to always be monitoring their business IQ.  Innovation takes place within companies as well as in products and services.  Being an innovative company requires a constant and systematic evaluation of how the company will stay competitive and continue to grow or maintain sustainable profits.  The lack of innovation is a one-way ticket to performance doldrums.

Not all innovation is good and there are certainly small and big failures to note.  One point is certain, if your business is low on IQ, it is probably not maximizing the potential of products, people, processes or policies.  Start by asking the questions first, what needs to go? What is holding your business back?  Identify where you can improve your business IQ and then go — innovate!

If you want something new, you have to stop doing something old.” – Peter F. Drucker

Jamie Glass, President and CMO of Artful Thinkers

About me:  I have been helping business owners and CEOs grow, market and expand for more than two decades.  My corporate experience comes from sitting at the table as a senior executive in public and private companies.  I am a ravenous information consumer.  I am passionate about selling, marketing, digital media, technology, social engagement, investing, leadership, growth, women in business, networking and entrepreneurship.  I started as a communications person out of college and now I use this art to ignite conversations on topics that relate to my passions.  My goal is to help others do better and do more.  I am a managing director at an investment banking firm and own my own sales and marketing consulting practice.  Carpe Diem! @jglass8 Email: [email protected] 

214 COMMENTS

  1. Hello! This is kind of off topic but I need some advice from an established blog. Is it very difficult to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about setting up my own but I’m not sure where to start. Do you have any ideas or suggestions? Appreciate it

  2. Hello! I’m at work browsing your blog from my new iphone! Just wanted to say I love reading your blog and look forward to all your posts! Carry on the great work!

  3. hi!,I like your writing very much! share we communicate more about your post on AOL? I need an expert on this area to solve my problem. May be that’s you! Looking forward to see you.

  4. This is really interesting, You are a very skilled blogger. I’ve joined your rss feed and look forward to seeking more of your wonderful post. Also, I have shared your site in my social networks!

  5. I must get across my affection for your kindness supporting folks who have the need for guidance on this important concern. Your very own commitment to passing the message up and down became extremely valuable and have in every case allowed girls just like me to achieve their goals. This warm and helpful hints and tips denotes much a person like me and extremely more to my fellow workers. Warm regards; from all of us.

  6. Hmm is anyone else encountering problems with the pictures on this blog loading? I’m trying to determine if its a problem on my end or if it’s the blog. Any feed-back would be greatly appreciated.

  7. Just about all of the things you articulate is supprisingly legitimate and it makes me wonder why I hadn’t looked at this with this light previously. This article really did switch the light on for me as far as this issue goes. However there is actually one particular position I am not really too comfy with and whilst I try to reconcile that with the core idea of the point, allow me observe just what the rest of the subscribers have to point out.Nicely done.

  8. Somebody essentially assist to make severely posts I might state. This is the very first time I frequented your website page and to this point? I amazed with the analysis you made to make this actual put up amazing. Great task!

  9. Hi there, just became alert to your weblog via Google, and found that it’s truly informative. I am gonna watch out for brussels. I’ll appreciate if you continue this in future. Many folks can be benefited from your writing. Cheers!

  10. Hey this is kind of of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get advice from someone with experience. Any help would be enormously appreciated!

  11. Definitely believe that which you said. Your favorite justification seemed to be on the net the easiest thing to be aware of. I say to you, I definitely get irked while people consider worries that they plainly do not know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side effect , people can take a signal. Will likely be back to get more. Thanks

  12. Whats up! I simply would like to give a huge thumbs up for the good info you’ve gotten here on this post. I will likely be coming back to your blog for extra soon.

  13. Just desire to say your article is as astonishing. The clarity in your post is simply great and i could assume you’re an expert on this subject. Well with your permission let me to grab your RSS feed to keep up to date with forthcoming post. Thanks a million and please carry on the gratifying work.

  14. What i do not realize is actually how you’re not actually much more well-liked than you might be right now. You are very intelligent. You realize therefore significantly relating to this subject, made me personally consider it from numerous varied angles. Its like men and women aren’t fascinated unless it’s one thing to accomplish with Lady gaga! Your own stuffs excellent. Always maintain it up!

  15. Have you ever considered creating an e-book or guest authoring on other websites? I have a blog centered on the same information you discuss and would really like to have you share some stories/information. I know my viewers would value your work. If you’re even remotely interested, feel free to send me an email.

  16. Howdy are using WordPress for your site platform? I’m new to the blog world but I’m trying to get started and set up my own. Do you require any html coding knowledge to make your own blog? Any help would be really appreciated!

  17. Thanks , I have just been looking for info about this subject for ages and yours is the greatest I have found out till now. But, what concerning the conclusion? Are you sure in regards to the supply?

  18. Do you have a spam issue on this blog; I also am a blogger, and I was wanting to know your situation; many of us have developed some nice practices and we are looking to swap techniques with others, be sure to shoot me an e-mail if interested.

  19. Great post however I was wanting to know if you could write a litte more on this subject? I’d be very grateful if you could elaborate a little bit more. Bless you!

  20. Woah! I’m really enjoying the template/theme of this site. It’s simple, yet effective. A lot of times it’s very difficult to get that “perfect balance” between superb usability and visual appeal. I must say you’ve done a very good job with this. Additionally, the blog loads extremely quick for me on Firefox. Exceptional Blog!

  21. I’m really enjoying the design and layout of your site. It’s a very easy on the eyes which makes it much more pleasant for me to come here and visit more often. Did you hire out a developer to create your theme? Great work!

  22. With havin so much written content do you ever run into any issues of plagorism or copyright violation? My site has a lot of exclusive content I’ve either written myself or outsourced but it looks like a lot of it is popping it up all over the web without my agreement. Do you know any methods to help protect against content from being stolen? I’d genuinely appreciate it.

  23. Hiya very cool website!! Man .. Excellent .. Wonderful .. I’ll bookmark your web site and take the feeds also…I am satisfied to seek out so many useful info here within the submit, we want work out more strategies on this regard, thanks for sharing. . . . . .

  24. Hey there! Someone in my Facebook group shared this website with us so I came to look it over. I’m definitely loving the information. I’m bookmarking and will be tweeting this to my followers! Wonderful blog and great style and design.

LEAVE A REPLY

Please enter your comment!
Please enter your name here