What Innovation Means For Small Businesses

Wall Street Journal have been looking at innovation and small business... The ability to innovate and smartly execute new ideas will make or break many businesses in the future, as we noted recently. But many small companies don’t know what that means – or how to create that magic spark. Jump Associates of San Mateo, Calif., consults Fortune 500 companies like Hewlett-Packard, Target and Procter & Gamble on how to bolster innovation in the workplace and identify new channels of growth. We spoke with Chief Executive Dev Patnaik about the role innovation should play in a small business, what it means exactly, and the common mistakes. Here are edited excerpts.

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