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's innovation?
It might appear such as for instance a simple answer, you can say it means new ideas, or new methods for looking at things. To me innovation means a great deal more. This means being on the forefront of one's industry. It means researching a you are in and then researching similar or like minded industries and finding lasting solutions for the business. Solutions that engender success and move you to your ultimate goals. Because no matter who you're, in the event that http://www.linkedin.com/company/inventhelp you or your organization doesn't have set goals you are not moving forward and will eventually flutter out of existence.
A company entity is an income breathing thing. If organized correctly, it will continue to reside long following the founder has gone. Therefore like everyone else can't proceed through life with the exact same skill set that you used when a baby, you have to cultivate and evolve as a business. As you go through the infancy stage of business you have to begin considering methods to re-energize your base clientele and bring new customers to the door. Look at most successful businesses and you will dsicover this practiced time and time again. For example, there is an occasion when McDonald's would 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 original hamburger. Carl's Jr. started beating them up in their advertising so that they introduced the Angus burger line. Now they are marketing the McCafe motif and renovating their stores to be more "upscale" with a contemporary look.
That's just one of these of how a business must incorporate innovation into their business model. Now, I'm not saying that you have to be constantly renewing your company and introducing every fad into your business model. Fads come and go, you shouldn't bankrupt yourself wanting to often be on the cutting edge. You can research each new trend and determine by your experience and customer demographic whether something might benefit you. Issues that work in New York City, mightn't work or be practical in Stockton, Utah, and that's okay.
Another aspect of innovation in operation is preparing a long-term and short-term plan on what you want to grow your business. Because you don't desire to bankrupt yourself by wanting to implement everything overnight, make an idea on which things you are able to effectively implement now, and in the longer term to boost sales and stabilize your organization operations. Then take the things that you intend to implement in a couple of years years and make an agenda on what you are going to get it done and what needs to be achieved prior to 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 simply hard to plan for. The main thing is that you have a plan set up and that you will be constantly reviewing the master plan and adjusting as needed, but don't just feel that you can freely adjust and postpone things all the time, you'll need to challenge yourself to make it and then do it.