“Exploration is the engine that drives innovation. Innovation drives economic growth." - Edith Wilder
Our goal is to be your best business relationship, part of this role is to make sure our network has a look through the window of trends and behaviour to ensure opportunities do not pass us by. This week we have been pondering business innovation.
What is business innovation?
Business innovation can be as simple as introducing new services or products to increase new revenue in the business. This could include improving existing methods or practices, or starting from scratch, something completely new.
In a world where nothing is ever really new, what does innovation mean?
Here are a couple definitions of innovation;
From Merriam-Webster's online dictionary;
The introduction of something new.
A new idea, method, or device: novelty
Why business innovation matter?
Business innovation matters for one simple reason: In order for your business to thrive and not stagnate it is crucial to be continually innovating and improving. Successful business innovation is also a fun and enjoyable journey, being in business should be fun and a profitable business certainly makes it more fun.
3 Short tips to stay innovative:
Give Yourself Permission To Imagine. Positive change will only happen when you allow yourself to imagine a better future for yourself, your clients and your salon.
Thinking Long Term Make sure your business is in prime position to allow it to afford the 'right' solution for your business. That will help give the business the highest odds of long term success.
People Surround yourself with forward thinking people, encourage your team to share thoughts and ideas. Encourage them to be the change they want to see.