Disruptive innovations are the kinds of breakthroughs that can shake up categories, revive stagnant brands, and turn market challengers into market leaders.

But many companies are unwilling to invest the capital required to develop and implement such innovations, or accept the risks. They lack an effective innovation strategy, try to leverage technologies they already have instead of cutting new paths, and often pull the plug too early in the process.

Companies such as Apple and Amazon are acknowledged masters at disruptive innovation, with cultures that are designed to encourage creativity and leaders who accept the risks that come with innovations.

Not every company has that DNA. Many need help from outside – whether that means hiring an innovation luminary from another company to build a team and manage the process or turning to experts who know how to drive innovation.

Here are two examples of how powerful disruptive innovations can be:

• Johnson & Johnson wanted to shake up its tired, stodgy KY Jelly brand, a product that was not pleasant to use. We identified a market trend we called “sexertainment,” meaning couples were thinking about sex more in the context of intimacy. We took it to a whole line of products called KY Intimacy, more of a sexual play toy, and what had been a $20 million business became a $300 million business.
  
• Colgate-Palmolive disrupted the whole idea of oral hygiene with its Colgate 360 toothbrush. We did some research that showed that consumers were focused on the bacteria on their teeth, not the bacteria in the whole mouth. The Colgate 360 toothbrush offered a way to get the whole mouth clean – a little scraper on one end of the toothbrush for cleaning the cheek and the tongue. Now, it is now the best-selling toothbrush in the world.

Companies need sound strategies for innovation. Blue Ocean strategy is ideal for consumer products. It's a methodology that helps companies identify high-potential areas for innovation that competitors have yet to discover.

• Glaxo Smith Kline, which has the Polident denture care brand, used the Blue Ocean approach. They began with one big consumer insight: People with dentures wanted to keep that a secret. We added products that were portable, that were sprays and that would look nice in your bathroom. Yes, there were functional benefits – you need to keep your dentures clean – but the really big jump was in the emotional benefits.
  

Innovation isn’t only about products; it can be about the packaging, or communications or a service. These may be a much quicker way to making a big difference in the marketplace.

Innovation at this level entails risk; not all companies are comfortable with that.  However,  the rewards can be substantial and long-lasting, which is where companies can make really big money.