For much of his business career, Anshul Khetarpal has been free to use his entrepreneurial spirit in the growth and development of firms. Based in Shasta County, California, he works with a leading biotechnology and diagnostics sales company, helping in the business development and strategy aspect of the firm.
“I showed independence and self-reliance at an early age,” he said. This ability to come up with solutions has helped him accomplish a lot with his company, including launching new products and services in the market. The company has also allowed him to use his innovative mind, something that other firms can accomplish within their setups in the following ways:
Appreciate employees’ contributions to creative thinking
Some companies have formal incentives towards the innovation process, from monetary rewards to annual awards programs. While these certainly help with sales teams, for example, they can also create a sense of competition rather than collaboration. A peer-based recognition system can help employees recognize each other’s achievements, thus helping set the tone that stimulates creativity.
Remember the past
New ideas are not always completely original. Some concepts may not have been fully realized for various reasons, which is why it’s good to return to the past and understand why some ideas didn’t materialize. Doing so helps you avoid repeating past mistakes, and it can also help you improve the products.
Embrace failure
At the core of innovation is remembering that it takes multiple attempts to come up with a satisfactory solution, product or service. Failure is part of the journey, and it has to be embraced within the organization. When employees aren’t afraid of failing, they’re more willing to think outside the box.
Anshul Khetarpal works for Pain & Function Solutions, Inc., which partners with companies that innovate in the biotechnology, pharmacy, diagnostics, and medical devices industries.
Also can read: Anshul Khetarpal of Shasta County: How to Nurture an Entrepreneurial Attitude