Why do some business people think innovation is just for big business or start-ups?

Innovation seems complicated but in fact it simply refers to creating more effective processes, products, and ideas.

If you and your businesses do not implement innovation practices, there is a real risk of business stagnation.

In the business world it can mean improving services, creating dynamic products, or creating and implementing new ideas. Too many of the businesses Business Navigations Services  work with to reposition have not adapted and changed to the business environment around them and have failed to embrace technology effectively.

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Adapting and growing your business

Innovation acts as an important catalyst that can make your business grow and can help you adapt in the marketplace.

By innovating, we mean changing your business model and making improvements in the existing environment to deliver better products or services.

Successful innovation should be part of your business strategy, where you create a culture of innovation and find ways for creative thinking to happen. It will increase your chances of business success and create more efficient processes that will result in better productivity and performance.

For that, business owners need to encourage and support innovation and creativity to find new things. Try adopting and creating new ideas that will help you grow beyond your competition.

Where to begin…

I always find a good starting point for any leader is asking the employees of a team for ideas on what they think needs to change and how what improvements can be made. The teams normally create an agenda for change and improvement. Other simple tips are to:

  • ring clients
  • set-up a focus group or zoom calls with key clients
  • talk to your suppliers who see a lot of your competitors every day.

Engage your customers by envisioning and building better products and experiences, developing go-to-market approaches and improving business models— Innovate to generate new growth, meaningful differentiation and real economic value.

Business Navigation Services specialise in facilitating and supporting you with workshops, keynotes and project management. Book a FREE 30 minute consultation call with us to help you identify the next steps for your business.