Research is an integral part of innovation
Although we mostly focus on generating
ideas and executing the best ideas, we tend to forget research. We
forget it because we are too busy, have no time and/or resources or
are too focused on internal processes. We are already pretty
satisfied if we manage to have discussions with (potential)
customers.
However, there is huge benefit in
exploring available data on the internet for your specific area of
innovation. It is quite simple to find relevant research from
universities, writers, NGO's, Think-Tanks and other institutions.
Just use Google search and also use the search function of social
media (usually that social media info is realtime available).
As I am reading the book “Poor
Economics” by Banerjee and Duflo, I noticed a chapter about
entrepreneurship. In there it is clearly stated and researched that
“microcredit does not seem to lead to a radical transformation in
the clients' lives”. Also they highlight “the disappointing
effects of the business training programs that many MFI's
(Microfinance institutions) have now started....”.
Without this research you might be
thinking that microfinance is a good tool to use in developing
countries. Research indicated that you have to be careful about the
right use and benefit of this tool. This doesn't mean that you should
not use it, but that you can know -upfront- what the impact is or can
be.
Are you spending enough time on
research?
Enthusiasm
drives Excellence!