Recently I received an award for business innovation. As I've contemplated this award, I've asked myself what is business innovation. My motto in business is, Innovation, Solutions, Service, so what is innovation?
It might appear such as a simple answer, you are able to say it means new ideas, or new ways of taking a look at things. In my experience innovation means a great deal more. It indicates being on the forefront of your industry. This means researching the industry you're in and then researching similar or like minded industries and finding lasting solutions for your business. Solutions that engender success and move you to your ultimate goals. Because regardless of who you are, in the event that you or your business doesn't have set goals you are not moving forward and could eventually flutter out of existence.
A company entity is an income breathing thing. If organized correctly, it will continue to reside long after the founder has gone. Therefore like everyone else can't proceed through life with the same expertise that you used whenever a baby, you have to develop and evolve as a business. As you move across the infancy stage of business you've to begin taking a look at approaches to re-energize your base clientele and bring new clients to the door. Look for the most part successful businesses and you might find this practiced time and time again. Like, there was http://www.linkedin.com/company/inventhelp a time when McDonald's could have been satisfied making cheeseburgers and fries and leaving it at that. But their market analysts saw the writing on the wall and they began offering salads and alternatives to the traditional hamburger. Carl's Jr. started beating them up inside their advertising so they really introduced the Angus burger line. Now they're marketing the McCafe motif and renovating their stores to become more "upscale" with a modern look.
That's just an example of what sort of business must incorporate innovation into their business model. Now, I'm not saying that you have to be constantly renewing your organization and introducing every fad into your organization model. Fads come and go, you shouldn't bankrupt yourself attempting to always be on the cutting edge. You are able to research each new trend and determine by your experience and customer demographic whether or not something might benefit you. Issues that work in New York City, might not work or be practical in Stockton, Utah, and that's okay.
Another part of innovation running a business is preparing a long-term and short-term plan on how you intend to grow your business. Since you don't desire to bankrupt yourself by trying to implement everything overnight, make a plan about what things you are able to effectively implement now, and in the long run to improve sales and stabilize your organization operations. Then take the things that you want to implement in a year or two years and make an agenda on what you are going to do it and what needs to be achieved ahead of implementation. Set measurable benchmarks to ensure that you are moving towards those goals. And remember don't get discouraged if your 12 months plan is taking a little longer, because some things are just hard to plan for. The important thing is that you have an agenda set up and that you're constantly reviewing the master plan and adjusting as needed, but don't just feel as possible freely adjust and postpone things all the time, you need to challenge yourself to create it and then do it.