Small Business Minute #36- Innovation Starts at Home

small-business-minute-36-innovation-starts-at-homeIf you’re to believe everything you hear or read about innovation, you would be justified in thinking that innovation is an area best left to the big companies, but that would be wrong.

Don’t let the status quo be the reason you don’t try something new

If truth be told, every company, regardless of size, has the opportunity to innovate. Although small innovations never make headlines, they never the less can make a dramatic impact within your company, and frankly that’s all that really matters.

What you need to understand is that most successful innovation comes from either borrowing ideas from other industries or reconfiguring your existing products or services to tackle new markets or customers.

Simply changing some business processes to be more efficient can be considered innovative

A great example of borrowing ideas is Henry Ford who has been heralded for developing the modern auto assembly line, he actually borrowed and adapted the process from the meat packing industry.

Simply changing some business processes to be more efficient can be considered innovative, if it reduces costs, improves the customer experience or generates more profit.

One of the biggest stumbling blocks to innovation is ”the industry doesn’t do that” attitude but to my way of thinking that’s exactly why it should be done.

Don’t let the status quo be the reason you don’t try something new. You just don’t know where it will take you.

I’m Greg Weatherdon and this has been your Small Business Minute.

Copyright © Greg Weatherdon 2016

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