September 1, 2014

Small Business News: Business Innovation 101

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The key to being successful at innovation in business or in life is to never quite be finished with it. There is no such thing as perfection in this imperfect world and your small business certainly falls, and will continue to fall, into that category unfortunately. This means there will always be some tweaking to be done. An improvement here something discarded there, but always with the goal of making things better. Here’s hoping you never get finished innovating in your small business. And it’s never too late to start.

Tips

Innovative ideas for the New Year. Hey, what are your plans? Don’t make a bunch of resolutions you are unable or have no intention to keep. Are you intending to make some big changes in your business? Good. Just be sure they are the right ones. Innovation can occur in small steps. Here are 10 to get you started.  Simplicity Mastered

Keeping a lid on your legal expenses. Oh, you may not want to think about it, but occasional legal issues will be part of the game when it comes to small business. Rest assured that in the fullness of time you will be calling a lawyer for something or other connected to your small business venture. But this doesn’t have to mean breaking the bank if you follow some simple guidelines about how to reasonable contain those legal costs. Open Forum Innovation

Tweaks

Improve your business by improving your metrics. Sounds logical, you say. But how? Certainly, no one would be using the wrong metrics to measure success if it were obvious the metrics being used were ineffective. So perhaps another look at the metrics really needed to generate results is necessary to decide whether your business is on track or whether it could be time to make some changes. Convince & Convert

Why can’t we treat our employees better?We know, of course, that a substantial part of our revenue is based on their commitment and effort. And yet at small businesses like restaurants, places where customer service matters the most, engagement with employees is low. This leads to low retention rates not a better product or service. Is there a better way? Winning Workplaces

New Directions

Some lessons in cannibalism. It’s a radical move, but the best way to compete in a world of rapid innovation is to look at the possibilities of making even your own products and services obsolete? After all, better you do it than a competitor. But how do you start innovating where your own products or services are concerned? Simple. Just look at what you offer and figure out how to do it better. Open Forum Innovation

How to automate content. Jason Falls isn’t suggesting you buy a program that can write your blog posts for you…exactly. But if new software can create automated content in the form of things like quarterly financial reports, statistical roundups and the like, where is the harm in that? It may not be the right tool for highly distinctive content, but for content based on data and nothing more, could it change the way your business operates? Social Media Explorer

Bookshelf

Innovations in social media management.Pierre DeBois takes a peak inside Empowered: Unleash Your Employees, Energize Your Customers, and Transform Your Business, a new book by Josh Bernoff and Ted Schadler about following up the social media revolution with a new discipline for managing employees who use it. How can you manage your employees to maximize the use of new social media tools. This book may present some answers. Small Business Trends

Finance

Micro Investments: A new trend in the small business ecosystem?Just as VCs have been a big part of larger scale start up, P2P and micro loans may be a growing part of a new kind of small business investment not just in underdeveloped countries but in small businesses just around the corner. The new investment system promotes loaning on a new and smaller scale but what will it mean to the small business market as a whole? GoBankingRates.com

Marketing

When even blogging gets old. If innovation is about doing something different and starting down a new path with your business, why shouldn’t that include abandoning even the latest trend when the time is right? In this post about quitting blogging we look at the possibility that even the latest strategies may be wrong for you if they just don’t advance your brand anymore. The best innovation? Find something that works. Jim Kukral

Regardless of strategy, creativity is the key.You can worry about when the time is right for any new direction but the key to any great innovation is to do something that sets your brand apart. In this post, Jason Kienbaum talks about creativity as the best ingredient for a social media campaign. Indeed, creativity is the next great step in any innovation in your business. What’s next? You decide. Business Done Now

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  1. I appreciate the articles and the opportunity to share. Thanks again!

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