Growth through Innovation on a tight budget

I enjoyed this article by Joann Lublin in the WS

Smart Balance Keeps Tight Focus on Creativity

It highlight's Smart Balance's approach to Lean Innovation through a virtual business model that encounters fewer roadblocks than traditional company innovation models.  Steve Hughes, CEO, recommends these actions:

• Establish a clear vision and long-range blueprint
• Outsource all activities someone else can do better 
• Relentlessly commit to continuous improvement 
• Develop a strong internal team and external business partnerships 
• Create a focused new-product process mixing creativity and practicality 
• Invest in building the brand, rather than physical assets

  With "most" of their revenue growth coming from new product sales, it looks like their model works.