You don't lack time to innovate. You lack allocation and purpose.
You'll forgive me if I lapse into a bit of consultant speak - can't help but do so since I've been in consulting for many years. One of the factors that dictates what people do as consultants (and in other jobs or industries where time is tracked to projects or other expense categories) is the availability of charge codes. Everyone knows that lawyers, for example, typically bill their time in 15 minute increments. They need not only to bill their time in these time segments, but they also need a "charge code" - some mechanism to associate the time they just spent to a client, a business development activity or some overhead charge. As consultants, most of us are no different. Regardless of how you ultimately bill the client (time and materials, fixed fee, gain-sharing or other mechanisms) almost every consultant and consulting firm I'm aware of tracks consulting time. I'm sure the same is true in many other industries where people are accountable for ...