The use of Innovation Management Techniques (IMTs) by Small and Medium sized Enterprises on a daily basis is increasing day by day, and is proved to be very helpful according to recent researches, and crucial for enterprise competitiveness, even though IMTs are thought to be resource consuming at the adoption stage. The scope of this paper is to reveal the relation between IMTs and other significant factors of SME's success, in a tangible and practical way, in terms of statistical significance and direction, which will highlight critical factors and finally show the best way to use IMTs as a standard procedure for SME's and organizations and how performance optimization and innovation can be achieved.