Innovation is the life-blood of any business that aims to stay relevant and grow. There are plenty of good ideas, but the right approach can make the most of them, benefitting both the company and its customers. Hiring a product innovation adviser or executive can help businesses achieve this goal with ease. But how do you know when to go for an adviser and when to engage an executive? Read on as we explore the two options and help you decide which one is right for your business.
Product Innovation Adviser
If you have limited resources or a small development team, a product innovation adviser may be a better option. Such advisers have extensive experience in the field, and their job is to give businesses new ideas and streamline development processes without taking up management positions.
Advisers typically work with a business for a few months to a year before moving on to other projects. They can inject new ideas and approaches, help with market research and consumer surveys, and ensure that projects are aligned with your business goals.
However, keep in mind that advisers do not implement these ideas themselves. They present them to you and help to develop a sound strategy that is implementable by your own development team. In general, advisers are more cost-effective than a permanent executive but won’t work on a full-time basis.
Permanent Product Innovation Executive
If you have a larger business and more significant product innovation projects, you may need to hire a permanent innovation executive. This type of professional specializes in brainstorming and creating new products, tweaking old products to make them more appealing, and taking them to market.
Executives can create new and innovative ideas and drive them forward, ensuring that a company thrives in the market. They have a significant amount of experience, and they can manage the development team to bring these ideas to fruition while they remain focused on business goals.
Furthermore, permanent executives can provide leadership and mentorship to the product innovation team and other departments involved in marketing and strategy. They are a visible and respected part of the company, with the skills and responsibility as a senior manager.
Whether you hire a product innovation adviser or executive, both options have significant advantages and disadvantages to suit different business needs. An adviser is suitable for businesses with limited resources and smaller team sizes, while an executive is best suited to larger businesses and more extensive projects. Regardless of which option you choose, remember that innovation is an ongoing process that requires regular investment from the company. So, take the time to assess your company’s current situation and seek professional guidance to find the best solution that suits your needs.