Recently I received a prize for corporate innovation. As I have considered this award, I asked myself what business innovation. My motto of business is Innovation, Solutions, Services, so what is innovation?
It seems like a simple answer, you can say that it means new ideas or new ways to view things. To me innovation means much more. It means being on the front of the industry. It means researching the industry you are in and then researching similar or thought-out industries and finding lasting solutions for your business. Successful solutions that bring you to perfect goals. Because it does not matter who you are, if you or your company has not set goals, you're not left and will always look out of the reality.
Trading account is a live breath. If properly organized, it will continue to survive long after the founder has gone. Therefore, as you can not go through life with the same skill you used when the child must grow and evolve as a business. As you go through the birth phase, start looking at ways to revive your customers and bring new customers to the door. Look at the most successful company and you will see this practice moment and time again. For example, it was time when McDonald had been happy to make cheeseburgers and chips and abandon it. But their marketers saw writing on the wall and they started offering salads and alternatives to traditional burgers. Carl Jr. started tapping them into their advertisements so they introduced the Angus hamburgers line. Now they are marketing the McCafe subject and updating their stores to be more "reap" with a modern look. They are no longer kids, but the young professional adult cafe. This change in marketing happened over time because they could see the trade and continue the process. It was preventative rather than reaction. Many owners of small assets are in a good state of mind and are therefore unable to transfer their business last year to five.
It's just one example of how companies must integrate innovation into their business model. Right now, I'm not saying you need to constantly update your business and introduce every dish to your business model. Fads come and go, you should not bankrupt yourself and always try to be on the front row. You can review each new policy and decide with your experience and demographic customers if anything could be for you. Things that work in New York City could not work or be practical in Stockton, Utah, and that's okay. Your customers will help you decide sometimes whether something will work or not. Also, instead of doing everything and making the change and expecting your customers to like it, try running for a limited amount of time and see how it is approved. Thus, your investment is minimal if it does not work for your business.
Another aspect of business innovation is to prepare a medium-term and short-term plan for growing your business. Since you do not want to bankrupt you by trying to implement everything overnight, make a plan of what you can actually implement now and in the near future to increase sales and stabilize your business. Then take what you want to perform for a year or two years and make a plan of how you will do it and what to do before executing. Set measurable criteria to make sure you're moving to these goals. And do not be discouraged if your program in one year takes some time, because some things are just hard to organize. It is important that you have a plan in place and that you are constantly reviewing the plan and adjusting as needed, but not just being freely adjustable and tempting things all the time, you have to challenge yourself to do it and then do it .
Finally, it's my personal opinion that I've put in the past 18 years in my life, that every owner of the company should be an innovator. You should always try to put your business at the forefront of the industry. Be a measure that other similar companies are measured against. Do not be left behind and become the dinosaur of the industry or worse than just another mortality on the highway to succeed.