Innovation is the Foundation for Success
Innovation is the foundation for success, no matter the industry or situation. When it comes to innovation, the key lies in a mix of disruption and efficiency. When deployed well, businesses will reap the rewards in the long run while playing the "game" and ultimately be successful.
This is a lesson that Aran Ali shared in his article, "What Baseball Can Teach Us About Investing in Innovation." It truly hit home for me as a softball dad for more than a decade and is my outside hobby all summer long—it also speaks to how we run at ClaimBuyout.
Companies can apply the same idea of using disruptive and efficient approaches when developing products or changing their systems and procedures. That's where we're headed at ClaimBuyout—an innovation that started as a disruptor in the auto claims space and will eventually become a widely-accepted industry standard—where it will become second nature to seek out a ClaimBuyout Offer. Especially when it comes to high-impact repair estimates when the insured no longer wants the vehicle and customer satisfaction reigns.
When it comes to success, it's evident that single hits make up an enormous portion of a game's, season's, or championship's plan. It's a similar story regarding investing, where consistent and efficient forms of innovation occur often and hold the key to success. With the vast competition we experience in modern business, and we need to think of innovation as essential—not optional. My real takeaway is considering the most critical investment—people and technology—and I'm delighted that's at our company's core.
According to the data, over the last several decades, patent applications have surged almost sixfold, while R&D expenditure has exploded from half a trillion in 1996 to over two trillion dollars in 2018. Predictions estimate global R&D to skyrocket beyond $3 trillion in the coming decade.
It's clear that investments in innovation are on the rise and may continue to grow for many years. While impressive, it also means there's potential for much of this R&D to remain in obscurity, just like hits in a baseball or softball game.
What remains steadfast at ClaimBuyout, and may be the case in your situation, is staying the course and refining those fundamentals. The day-to-day grind will eventually set you apart and set you up for a Grand Slam.
Here's to a fantastic summer of ball games ahead. Go, Team ClaimBuyout! I hope to see you at the ballfield.