Apple, which is known as one of the most innovative companies, has a not-so-well-kept secret.
They don't really innovate that often.
Sure they've had some notable innovations, and some smaller ones as well.
But for the most part, they don't take big swings regularly.
Instead they focus on improving existing ideas.
If you watch their keynotes for current year product releases, typically they announce something in the range of 10-20% improvements in either speed, performance, or efficiency.
I'll split the difference and call it 15%. For some this isn't meaningful. For others, it's worth an upgrade.
For Apple it's worth billions in profits.
And sometimes they don't just improve their own ideas by 15%. They'll improve on their competitor's ideas by 15% or more.
You don't have to focus strictly on pure innovation, breaking new ground, reinventing the wheel, and blazing trails.
Evolution over revolution.
Improving your existing idea, or someone else's, can be very impactful. And profitable.
So what product could you enhance?
Which process could you make more efficient?
What service could you make faster?
Again, 15% improvements could get a shrug from some, but for many others they will feel like winning.