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NAFCU Executive Vice President and COO Anthony Demangone highlights five ideas for innovators, or anyone looking to improve operations or products in the new year, in a post on CUInsight.

He suggests that those looking to effect change consider the following:

• the problems they are trying to fix;
• the cost of not taking advantage of a new opportunity;
• replicating those products and services that work best and applying them to new areas;
• getting rid of old, dead ideas to free up "time, money and attention to new areas"; and
• remembering that nothing lasts forever and that it's OK to change course later.

Demangone adds that each person must decide what kind of innovation will work best. "[I]nnovation can be killing something off. Or doing nothing. Or doing something new. Or changing course. It depends. Which one is right for you?"

Demangone authors NAFCU's management and leadership blog, Musings from the CU Suite. Sign up to receive weekly updates from the blog.