Innovation is often viewed as the development of groundbreaking ideas, but it is also about making incremental changes that can significantly impact an industry, business, or community.
I firmly believe that entrepreneurship and innovation go hand-in-hand. These provide the means to grow businesses, create products that solve problems, and improve customer experiences. Building a culture of innovation requires hiring the right people, setting clear goals, and establishing the right processes and roles for everyone on the team. Not to forget, disruptive thinking and staying curious are also essential traits of entrepreneurs and innovators.
“Killing It Culture” is still a big challenge facing the entrepreneurial and business community. There is this pressure facing businesses and entrepreneurs to always be “killing it” but it is more than ok to not know everything and to not always be “killing it”. Mistakes and failures are data points to better next time. The good news is that the environment is changing, there is a growing trend to be more transparent, share mistakes and talk about growth. There is an evolving space where founders are talking more openly & honestly about the good, the bad, and the ugly.
Currently, the biggest business-related challenge faced is the changes in data collection and analysis. With the increasing restrictions on privacy and data sharing, it’s important to be disruptive, agile and find new ways to understand customer habits.
Data is the currency we are fighting for now, and we have been disruptive in our space as user behaviour has changed to inclusive engagement and transparency where the consumer is the brand’s voice. It’s challenging, but it feels like a great time to be innovative, think outside the box, and try many new things!
As a leader, resilience and transparency are crucial skills to have, as entrepreneurship can be challenging and often feels like you’re on an island by yourself. Transparency helps tell your story, shape the business, and let people know where you are struggling so they can offer help, solutions, or advice.
I am passionate about helping my communities and working with initiatives that positively impact these communities. Throughout my career I have helped several programs across Canada. Currently I am focused on supporting marginalized groups within communities and more specifically, people experiencing homelessness. This program aims to educate community leaders on the needs of the homeless and highlight the current systems in place.
Nicole Parmar is CEO | Co-Founder of gunkii & a growth marketer. She is also the author of a children’s book series, The Adventures of Jai Jai Binks.