A simple bow can make all the difference to buyers.
Small innovations add up to better performance
In business, we often find ourselves wanting to leap tall buildings in a single bound and come up with the next big thing. Learning how innovation can benefit your business, how to become an innovative business and how to promote innovation both internally and externally can be a challenge.
While it’s good to set the bar high, it’s more effective to go towards achieving goals in smaller increments or innovations. Churning out many small innovations works in your favour because it allows you to hone your skills, and fail and adapt to your market in a cheaper, more natural way.
Look at your products, websites, company structure, workflow process, and so on and look for small things that can be easily and quickly improved with a bit of innovation. Are there quick tests you can perform that don’t involve a lot of risk, time or money that will uncover activities in your organisation that could use a small dose of innovation?
“Today it’s important to be present, be relevant and add value”. Nick Besbeas
What about your customers, subscribers, fans and website visitors, could you survey them to find out what parts of you organisation could use a little creativity and innovation?
When you are preparing a Business Case or an innovation program for your business, keep it small and easy to accomplish in the first instance. You can become more complex and take on bigger projects as your innovation processes strengthen and your confidence increases.
Start an Innovation program when business is slow
Innovation can occur in any aspect of your business and of course, it’s possible to be implementing many improvements across your business, depending on manpower and the finances available for innovation. Areas you could look at in the first instance might include:
- Marketing innovation. How you take your products and services to market and promote your distribution channels, pricing strategies, lead generation and innovative ways to improve customer service and the customer experience.
- Process innovation. Applying an innovative approach to improve the operational processes in your business, such as planning processes, production, financial systems or management practices.
- How can you improve the performance and productivity of employees, volunteers, partnerships, suppliers and other stakeholders? How can you improve the workplace environment?
- Product/service innovation. Developing new products or services, enhancing existing products or services, and introducing technological innovation.
- Business model innovation. With all the changes going on in the world old business models are not performing well and need to be tweaked or completely overhauled.
When you have little time and even less clarity, complexity steps in to demand even more of you, particularly if there are health, financial and family problems involved. Put them together and this can cause the best of us to falter.
If you are not careful to slow down and start an innovation, or reengineering program your health will deteriorate rapidly. People look for all sorts of solutions but they keep trying to fix their problems in their head when there are better ways to get back on top.
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I find there are many businesses who stop any innovation when the going gets tough, the time when the tough get up and get going.
You must continue to innovate during tough economic times to drive performance, growth and profitability and to prepare for when the economy improves.
The winners often emerge out of recessions, just as they emerge from their offseason. They almost always have something new to offer in their offseason because instead of slowing down, they applied themselves to innovation.