6 Things Innovative Leaders Do to Build Success

Companies need to innovate to grow and stay ahead of the competition. If you take a closer look at organizations like Amazon and Airbnb, it becomes clear that they are always anticipating the next trend, listening to what their customers want, and willing to shatter the status quo, even if doing so makes them into a different company.

Leaders at these and similar companies build success because they embrace goals and practices that celebrate innovation. But that’s not all. They make sure that their approach permeates the entire company, from the C-suite down to the front-line employees. The result is a powerful brand and longevity even when markets change.

Here are 6 things that innovative leaders at thriving companies do to build success. They’re powerful, effective, and easy to replicate at your own organization.

  1. GROW faster than the market

The market dynamics today can make growth a challenge: rising competition, increasing customer expectations, and digital disruption. The companies with the brightest futures have innovative leaders who know how to spot opportunities for growth, capture them quickly, and stay ahead of the market.

  1. Establish an INNOVATION CULTURE

Innovation happens when people are inspired and encouraged to think outside the box. Leaders who bypass micromanaging in favor of allowing employees to think creatively and pursue promising ideas will foster an open and creative corporate culture where innovation will happen naturally.

The value of an innovation culture cannot be underestimated. When your entire company is brainstorming, the production of unique and exciting ideas is phenomenally faster.

  1. FUND new initiatives

Companies with innovative leadership are never static. They fund new initiatives at the same time that they improve existing products and services. The market changes rapidly to accommodate consumer demand for newer and better offerings, and leaders of successful companies know that sticking with the familiar is a guaranteed way of being left behind.

  1. TRACK your percentage

Innovative leaders measure the success of new initiatives and ongoing campaigns by tracking percentages. They set goals that are appropriate for their situation and industry and see how the results compare. For example, sales growth of over 30% could be the mark of a vibrant and financially successful company while 10-20% suggests that a different direction is needed.

  1. ASSIGN champions

Success is never the result of a single leader’s efforts. They are supported by champions who are enthusiastic about the company’s projects, products, and mission. These employees will evangelize your vision and help it survive any initial internal resistance, so assigning champions is a cornerstone in building a successful company.

  1. MOTIVATE and educate teams

When you motivate and educate your teams, they’ll provide value in huge and beneficial ways. They will feel as if they have some level of autonomy to think independently and find new ways to take the company forward and solve its problems. Innovative leaders understand that they can’t do it all, and shouldn’t. Good leadership is as much about empowering and encouraging your teams as it is directing them.

At Soterian, our mission is to help leaders be more innovative so that their companies become successful market leaders with loyal customers and a strong brand. To learn more about the Soterian Process of Finding Your How (which includes how to identify success-building measures), click here to schedule a time to discuss how we can help!

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Soterian

At Soterian, our goal is to help business owners like you think bigger. Bigger than today, bigger than your business, bigger than yourself.

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