This week, we talked with Gary Bizzo, CEO of Bizzo Management Group and author of How to Start a Successful Business- the First Time. Bizzo shared a number of insights into business innovation including leaders’ motivations for software tools, managing the process of implementation, and how millennials are altering expectations about innovation. In the conversation, he noted three critical shifts affecting software innovation right now.
1. From Business to Customer
“There’s a new way of thinking about it,” said Bizzo, of software implementations. “There’s a...shift happening where [businesses] are looking at [software] from the customer side rather than the business side.” By this, Bizzo meant that a growing number of businesses are seeking out a software tool with a focus on how its introduction will affect the consumer, rather than simply focusing on the internal benefits. This trend was also noted in a Harvard Business Review article that discussed the importance of meaningful consumer relationships as a critical piece of software implementation. Bizzo suggested that this was a positive shift that will encourage leaders to stretch the cost-benefit analysis of software all the way from management down to the consumers.
2. From Risk to Opportunities
“In the old days, there was a focus on managing risk,” said Bizzo “but today businesses should be managing opportunities.” He said innovative leaders will help their employees develop a new way of thinking and approach their work in a more efficient way, rather than limiting tools and personnel to limit risk. This shift in focus falls in line with a Wall Street Journal article that explained it in a different way. Article author Russ Banham said innovative businesses should “view risk as an opportunity.” For example, a business taking on new software could be viewed as risky, but with precise calculation, that risk can evolve into an opportunity.
3. Towards Intuitive Learning
Bizzo recalled the old saying “if it’s not broken, don’t fix it” and said it was an outdated way for leaders to think. He noted that some upper level managers don’t share the same vision that Millennials have due to what he coined “intuitive learning.” Bizzo explained intuitive learning as a concept that Millennials have that there is always being a better way of operating. He said this characteristic is pushing young people to simplify their professional lives and the tools in them while some business leaders have a hesitation towards changes like software adoption. He argued that the “intuitive learning” generation is and will continue to push leadership towards innovation and simplified operations. To ensure your business is innovating with the right approach, take into consideration Gary Bizzo’s insights into the state of software innovation: focus on the consumer, manage opportunities, and share in the vision of your employees.
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