Meirav Peleg Landau
4 reasons to consider innovation consultants in 2023
Updated: Dec 19, 2022
The dynamic nature of today's market requires companies to find creative solutions to their customer's problems in order to remain competitive. While most companies understand the importance of innovation, they fall short when it comes to executing it. According to McKinsey, only 6% of CEOs are satisfied with their innovation performance. It is evident that companies need innovative strategies to remain competitive, but they struggle to create and implement them.
Open innovation is becoming more prevalent in companies today as they move away from inward-focused innovation. It is essential to be open to new ideas, technologies, and external talents, like innovation consultancies.
The following are the top 4 benefits of working with innovation consultants:
New way of thinking.
Innovation consulting will help you shake up your typical way of doing things. It can be challenging for managers to perform their daily tasks and provide fresh, innovative ideas above and beyond their daily responsibilities. It is common for companies to have ingrained habits. An innovation consultant helps you look at what you should be doing rather than doing things the same way you always have. As an outsider, he brings a different perspective and can provide new methods and tools for solving your problem.
Experts in their field.
Consultants who specialize in innovation often bring a blend of skills. They either work with companies like yours or they have a team of experts who do this every day.
Consultants are usually well-connected and have a wide network of people in the business and technology communities. In this way, they can connect you with people and companies that you might otherwise not have access to.
Focus your resources.
Innovation consultants allow you to focus on what matters, not what’s urgent. Like most leaders in the financial industry, you are probably overscheduled and incredibly busy trying to get your “day job” done. That usually doesn't leave you too much time to squeeze in innovation work.
When you bring on an innovation consultant, you give yourself and your team freedom and time.
Contact us today to learn how MPL Innovation can help you.