Maodong Xu, a billionaire entrepreneur with nearly thirty years of business building experience understands that innovation is only as successful as its implementation within the established company systems and constructs.
“The stories of innovation and genius you hear are more than tales of disruptors, making waves and changing worlds with their ideas,” says Maodong Xu. “It’s equal parts simpler and more complex. Innovation is bringing new solutions to old problems, and thus it requires finesse and planning to create true, lasting, meaningful change in any scenario.”
Innovation isn’t limited to the top ranks or the lowest among us rising up with new genius. It’s an all-or-welcome game of finding better answers. Within a company, innovation can engage, inspire, and ultimately affect the bottom line, but buy-in and implementation is essential.
Why is Identifying Innovative Opportunities Important?
In the world of career inventors and innovators, like Maodong Xu, innovation isn’t a one-size-fits-all strategy to affect positive change. It’s a culmination of investments, fast-and-furious intensive work, and long-term effort. Sometimes solutions—which are intrinsically innovative—come in a moment of inspiration. Other times, their the product of many heads put together to solve a problem through trial and error.
True innovation begins when companies identify the problems they need to solve and where new opportunities are waiting. Each idea warrants a term of exploration to find best-fit solutions. Once broader ideation occurs, it can be refined and targeted to specifically address a need. The full discovery process can be its own catalyst for important innovation and new possibilities.
How Does a Company Prioritize Its Innovations?
As Maodong Xu says, “The valuable, finite time and resources you have should be prioritized to focus on the solutions, systems, and ideas that hold the most promise.”
Understanding the investment of time, money, and other resources it takes to see an innovative idea through can help a company weigh the pros and cons of pursuing implementation. There will always be a margin of error, but understanding that the cost, ease of implementation, and overall effectiveness of a solution are all vital considerations will help the company’s bottom line and keep the right solutions moving forward amidst the noise of other ideas and less effective initiatives.
What Does Testing Potential Innovations Look Like in a Business Landscape?
For every new innovation, experimenting with it within the current systems and workflows should begin conservatively so as not to disrupt current operations and production. Starting out small can make the biggest impact as Maodong Xu discovered along the path toward making his billions and developing some of the most important tech on the market today.
Prototyping isn’t simply for physical inventions. Every innovation can be put on paper to give users and participants throughout the process an opportunity to interact with what you’ve devised and find any flaws, potential risks, or missteps that need to be addressed. Keeping the experimental and testing phase as affordable as possible allows for a quick trial to determine where the concept need revised and refined. As testing continues, each round can become slightly more complex, interactive, and integrated into current company systems.
How Can a Company Build Support for New Ideas & Innovation Implementation?
In any new implementation, be it product or system, participant buy-in is vital, and it happens when implementation is gradual, strategic, and executed with a plan. At each level of the testing cycle, more and more users can be introduced to a concept. Further, those who are financially backing an innovation or who will feel the direct effects of its implementation should get priority when sharing information.
When you introduce your new innovations in a way that shows how this solution meets that user’s unique needs or makes the process easier for them, you begin to answer unspoken objections and pave the way for buy-in and support of an initiative. Maodong Xu has experienced how the proper roll out means a smooth, successful implementation versus withholding information and degrading trust with little or no roll-out process. The right roll out means exponential growth in support as the process advances.
How Can Companies Learn from Past Triumphs & Failures in Innovation?
The right implementation process will lead to a fairly fast indication of whether or not an innovation is truly valuable and belongs in a company process or workflow. As innovations are introduced and proceed to benefit or hinder progress, an opportunity arises to learn, grow, and do better with the next idea. Debriefing on the successes and challenges of a plan allows your team to make a better plan for the next go-round. Continue to apply what you’ve learned with each new innovation, and your company will continue to move, grow, and improve in the best ways.
About Maodong Xu
Maodong Xu has made his fortune through innovation and the right risk actions. As a billionaire tech mogul, entrepreneur, and inventor, he has brought many new technologies and systems to market, selling them to larger tech companies looking to benefit from his innovations. With a career spanning thirty years, he has continued to refine his process for implementing what benefits his company and the world at large.
He was born in a small fishing village in 1967, living his young life in Rizhao, a part of the Shandong Province in China. He graduated from the Wuhan University of Technology in 1990 and began his entrepreneurial journey with smart risks that led to creating the largest grocery store chain in his area. His degree in computer applications and automation was a launching point for the legacy Maodong Xu has created.