Thinking Outside the Box: Innovating Beyond Your Industry

Companies consistently observe the actions of their competitors. When one introduces an innovation, the others quickly supplement their products or services with a similar element. Mobile phone manufacturers are a great example of this. After a while, the companies are no different again, but customers stay with the cheapest or best-loved brands anyway.

To be a leader instead of a follower, it might help to step outside the box. Looking at accomplishments in other sectors may bring great ideas to use in your own.

Progress is rushing faster than ever. According to EY research, 63% of C-suite executives in the manufacturing field believe that the biggest competitive threat will come from a company outside their industry. This is expected to happen in up to 3 years, so you shouldn’t put off expanding your innovation ecosystem. 42% of companies surveyed by Deloitte are already betting on working with partners from outside their sector or with innovation consultants.

Did you know you can introduce new ideas, products, or services to your sector in several ways? There is no one golden method for reliable cross-industry innovation, but here are some examples to get you started.

Implementing innovations isn’t synonymous with their immediate success. To test them out first, you can implement new ideas slowly and gradually. Observations across industries can result in improvements to single elements of an offer or modifications to product details.

Reminder: Don’t worry that the innovation process takes time. Even so, you are further ahead than those who are too afraid to start.

Not afraid to take a risk? The radical type of cross-industry innovation is created for you. It’s the fastest way to come out on top in your industry or launch an entirely new business model. A combination of courage and luck will help book a place among technological innovation pioneers, such as Google or Apple.

If you dream of a breakthrough in the market and revolutionizing the existing approach in your industry, follow the disruptive innovation way. For example, you can mix traditionally performed processes or services with technological solutions. An uplifting inspiration is Netflix, which moved away from renting DVDs to people by mail to a global streaming platform. Today, its value is calculated at nearly $100 billion.

Last but not least, an example of cross-industry innovation is the architectural way. This type means repackaging an existing idea, product, or service to attract new customers. A good example is Apple, which has packed smartphone technology into a watch, creating smartwatches that are more popular than the timeless Rolex watches.

Not sure what’s the use of sourcing solutions from other industries and making innovation efforts? According to Korn Ferry, as many as 60% of Innovation Leaders have grown by more than 10% compared to the past few years. What other advantages will open innovation bring to your business? Check it out below.

Innovations let your business grow. Cutting-edge solutions can become a new revenue source and the key to opening more worldwide markets.

Have you heard signals from customers about the lack of an innovative solution for the present times? Taking inspiration from the users’ voices will help you gain respect in the industry, which will easily put you at the forefront. Your brand will be seen as close to the people and inspire trust among those who expect a partner relationship with the business.

Innovation is like a muscle – the more often you use it, the stronger it gets, so the easier you can develop new ideas. As a result, in harsh times for your industry, you will push away stress about the future in favor of developing out-of-the-box products or services that meet current market needs.

Cross-industry innovative ideas don’t have to apply only to customer-facing products. Bringing productivity management or task automation methods from another industry will result in better employee productivity and budget management.

Have you been dreaming of surpassing your direct competitors in customer numbers, revenue, or brand trust level? Developing custom software based on solutions proven in other industries will allow you to build the image of a mature and forward-thinking brand worth entrusting customers’ finances with.

Companies that care about fostering innovation are investing in dedicated research and development departments. Typically, these amounts range from 3 to 15% of annual revenue, but 23% of companies interviewed by Deloitte say they intend to allocate more than 15% for this purpose.

You won’t quickly introduce cutting-edge solutions to your portfolio if your employees are into conventional thinking patterns. Give some (or all) employees opportunities to contribute to innovation processes. Sometimes, the front-line workers come up with the most valuable insights. Your job is to encourage them.

Some innovative ideas are born out of a desire to respond to customer needs in the best possible way. Feedback and complaints collected by customer service employees are an excellent source of inspiration. A person disappointed with the lack of an important feature or position in the offer is not a threat but an invitation to think about a creative solution.

Famous brands often launch partnerships with recognizable companies from other industries to create something based on their flagship products that will delight the loyal fans of both sides. IKEA, LEGO, Nike, Spotify, and Apple are constantly looking to create something unconventional that will bring them fame and reach a new niche.
Pro tip: In your area, you’re sure to find stakeholders, consultants, or startups from industries other than your own who would like to develop an innovative business idea.

How was the Dyson vacuum cleaner created? What does BMW’s iDrive control system have to do with video games? Find out what popular solutions might not see the light of day if their creators hadn’t taken ideas from diverse industries!

The Dyson vacuum cleaner owes its form to a nearby sawmill that used an ad cyclone. It is a tall cone that spins dust out of the air by centrifugal force. Using the concept of a cyclone was the first step in creating the famous bagless vacuum cleaner.

The first foldable lightweight baby buggy is the brainchild of a retired aeronautical engineer who tried to save his daughter the struggle with a cumbersome pram during her airplane trips. The direct inspiration was retractable landing gear, which has gained its parallel in the new buggy.

BMW’s iDrive system is an embedded solution inspired by a video game control pad. Thanks to this cross-industry solution, drivers can simply operate complex navigation, keeping a close eye on the dynamic situation on the road.

Red London phone boxes were used for calling in the not-so-distant past. However, with the invention of cell phones, phone boxes lost their popularity. Today, some phone boxes on Tottenham Court Road are converted into free-powered mobile phone charging points. Thanks to photovoltaic panels, pedestrians in need can quickly charge their phones at the historic booths.

Spending time in nature has resulted in a great idea for improved transportation. Japan’s 500 Series Shinkansen bullet train owes its aerodynamic shape to a sharp kingfisher beak. This solution allows the train to reach a speed of up to 320 km/h and generates less noise.

Sometimes, the best ideas come from outside your industry. So abandon your fears and see what approaches from other industries you could adopt for your company. And when you want to develop a cutting-edge software system, Scalo will help you construct it from scratch. Drop us a line and get ahead of your competitors!