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Consistent innovation is key to saying afloat

By Lee Mwiti | September 9th 2020 at 00:00:00 GMT +0300

One story that has caught my imagination when it comes to business innovation is that of American oil magnate John Rockefeller.

The discovery of oil powered the industrial revolution with most factories depending on diesel. There was no electricity, so most homes were lit using lamps that used kerosene. Oil was gold. Rockefeller purified it, but needed wealthy railway owners to transport it.

They always hit him with exorbitant rates that brought his margins down. He needed to cut them out.

The famous businessman relied on innovation. He built the first oil pipelines, which transported the substance faster, cheaply and more efficiently all over the American continent, rendering the rail lines obsolete.

That is how powerful innovation in the world of business is. It is actually the greatest revolutionary force I know.

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The world around us is constantly changing, and in order for your business to remain relevant and profitable, it will eventually need to adapt in order to meet these new realities.


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