There are three main types of innovation: Product innovation – You invest in a new product that people haven't seen before or modify an existing product in a new way. For example, George Lucas invented a galaxy of characters and products when he unleashed Star Wars on the world. Systems innovation – You deliver an existing product in a new way that makes things faster or more reliable. For example, Facebook is an innovative system for people to keep track of all their friends and it's a great system for advertisers too.
