Innovation should be at the heart of every entrepreneur and every business. Without innovation, one can’t create opportunities or remain competitive.
As the business owner, it should be your goal from the start to “stimulate, not suppress innovation” among the employees at your company. So said Rachel Payne, founder and CEO of FEM Inc. Payne founded the company after realizing that there was an opportunity for innovation in entertainment using a data-driven approach.
“Innovation is about bringing together seemingly siloed or disparate fields of knowledge that, when combined, create new opportunity,” Payne said during a keynote speech at Entrepreneur’s recent E360 event in Long Beach, Calif.
So what drives innovation? Payne says it takes creativity, imagination, education, diversity, experimentation and so much more. Check out the video above for her full keynote presentation.