Innovation and the ability to adapt to new and ever-changing business environments are two keys to a company’s success. So much so that companies that foster an innovative culture are more likely to survive in the short and long term in a competitive environment. In this post, we will explore how to lay the foundations for developing an innovation base in your company, inspired by the know-how of clients who have developed it with the help of LOOM.
What is a culture of innovation?
A culture of innovation is a business environment that fosters creativity, experimentation and collaboration. It is a place where employees feel they can freely propose new ideas and a “yes culture” (where all ideas are heard by the team) is encouraged.
Steps to build a culture of innovation in your company
1 Encourage curiosity
Encourage your employees to ask questions, explore new ideas and always remain curious. Provide time and resources for training and development. Convene brainstorming meetings to share and develop ideas and encourage teamwork. It is very positive that all employees build together and that everyone’s potentials are fed back to others.
2 Establish an innovation process
Create a structured process for the generation, evaluation and execution of innovative ideas. Make sure employees feel comfortable coming up with solutions. Face-to-face meetings and open workspaces are much better for this type of more creative work. Some methodologies, such as lean startup or design thinking can help you come up with very innovative solutions. Don’t forget to put the customer at the center, innovation without objectives will lead you to an empty field.
3 Trial and error
Mistakes are part of the innovation process. Celebrate the bold attempts and learnings that come from them. Sometimes what the team thinks might work in the marketplace doesn’t and vice versa. Test different solutions and pivot to find the ideal balance.
4 Recognize and reward innovation
Reward employees who contribute significantly to the culture of innovation. This can be through incentives, recognition, promotions or even just good words.
5 Lead by example
Company leaders should demonstrate their commitment to innovation by actively participating in generating ideas and promoting an open mindset.
Coworking space as a source of inspiration
Coworking spaces are known for their vibrant and creative environment, where professionals from different companies share ideas and experiences. This dynamic can serve as a source of inspiration to build a culture of innovation in your company.
Some aspects you can take away from coworking spaces:
- Diversity of perspectives
In coworking spaces, you meet people from diverse industries. This diversity of perspectives promotes the generation of new ideas, synergies, networking and unique solutions. To innovate, it is positive to encourage cross-departmental collaboration and value the contribution of people with different skills and experiences.
- Flexibility and adaptability
Coworking spaces are characterized by their flexibility. Professionals can change location, schedules and projects according to their needs. Encourage your employees to be flexible and adaptable, allowing them to explore new points of view, roles, ideas and projects.
- Community and collaboration
Community is a fundamental pillar in coworking spaces. It encourages activities and mutual support among professionals. Create an environment where employees feel part of a community working together towards common goals. Check the agenda of all our spaces!
Building a culture of innovation in your company can make a difference in its long-term success. Inspired by the diversity, flexibility and collaboration you find in coworking spaces, you can transform your organization into a center of creativity and excellence. From LOOM, we encourage you to try the experience of living the day-to-day life of a different workspace, to create an optimal innovation culture for your company.
