The Secret Behind Some of the Most Impressive Companies of 2017

Innovation comes with hard work and insight. There is no other secret. Some of the most innovative companies of the past year including Tesla and Warby Parker, just did things better than their competitors and had a way towards success. It’s a simple mantra that has been proving to be successful over the past decades.

There have been different companies like Snapchat and Twitter that used to be innovative a while ago but haven’t had that insight on which to build upon. They are building feature after feature but haven’t been able to get things perfectly right. Even a company as innovative as Tesla has pushed production dates further, because they’re just not ready yet. They’re still in development mode and want to make something unique through insight and hard work.

They Work Hard

There has been a significant amount of research, linking hard work and dedication to innovation in the industry. This has been proven to be true when it comes to entrepreneurs talking about long days and long nights. Microsoft CEO Bill Gates used to fall asleep under his office desk, because he worked so hard.

This is a great reason why people who are innovative also tend to be hard working and expect others around them to work just as hard as them. There are problems to be solved, and innovative people use the power of insight and hard work to get the job done.

When insight fails, hard work proceeds. This is a common saying among startup circles and it's true. That moment when you’re almost going to give up, you remember the commitment and the advantages of hard work and you start working right back again. You don’t want to stop then as the work keeps on flowing.

Otherwise companies that give up, or don’t have hard-work as a part of their employee DNA, don’t do anything remarkable. In fact, they face the additional challenge of hubris and do things the same way because of survivor bias.

They don’t want to rock the boat too much, so they do things the way that they’re always designed to be. They launch fewer and fewer features, and they create value in the things that keep the boat afloat. They don’t take risks and don’t have innovation in their KRA.

These organizations also tend to be sales-oriented, meaning that the sales team is more powerful than design or innovation. Therefore, the sales team gets to call the shots.

They Don’t Let Go of a Good Opportunity

When it comes to taking advantage of a good opportunity they don’t miss out on it. They make sure that they’re taking advantage of it and have the right set of skills to take up the challenge. Otherwise they won’t be impressive and innovative. They’d be just like everyone else and have nothing to show up for when its time for the earnings calls.

It’s not like they lack a work ethic that these companies seem to have, its all about the drive. These entrepreneurs are chasing their dreams, and in many cases, they’re doing something remarkable. This requires a lot of focus, which inevitably leads to good opportunities to arise organically.

Spotting a good opportunity is a work of art, and some of the most impressive companies of the year, know this by now. They don’t let go of anything that can give them a leg up or something that can produce better results with smaller efforts. They’re also not averse to rolling up their sleeves and entering a new technology, territory or customer base. They want to explore all options before they give up and offer something new to the market, while keeping everything else consistent. Maintaining a sense of consistency really counts, as they consistently are on the lookout for good opportunities.

They don’t really have good days and bad days, just good days and days that they learn from. Because a lot of the times, your failures speak a lot about where you’re coming from and how you approach it.  

They’re Not Copycats

This is a unique attribute that, so few companies seem to have these days. The fact that they’re not copying an existing model or doing something that most others are doing – makes them unique and impressive. They have a long-standing model of unique customer offerings that have aided them to develop stronger bonds with their customers.

They do things differently, but they also make sure that they’re revenue minded. They don’t want to go overboard and offer customers and arm and a leg, when all they really needed was a simple solution. They keep things simple and try to differentiate themselves from the market.

When you start to copy your competitors, you may drive traffic to your service momentarily, but customers come to know. And then your competitive advantage becomes a standard offering. Meaning that customers start to ask for more, because they expect more. When you’re an impressive and innovative company, you understand the nuances of customers and innovation management.

Therefore, you predict the needs of the customer and stay one step ahead to keep them excited about what you have to offer. They don’t take anything for granted and keep a steady pipeline of innovation going on.

Being a copycat brand is the worst thing that companies can do to themselves, and its surprising how of it still goes on in 2018. There is a lot of innovation out there, and brands need to open themselves up to new challenges and risks.

Only then will they be able to produce something that can truly be called innovative or impressive. Otherwise, they will continue down the business as usual route and never learn from their mistakes. They’ll scrap with smaller brands for revenue on their way out, leading to a rise of companies like Tesla, Google and OnePlus to dominate their respective industries.

Conclusion

Innovation is all about how you see risks and what opportunities you pursue. You need insight, hard work and a consistent attitude towards excellence.