Staying Ahead

Innovation – Is it Creative Imagination or Tangible Creation

Innovation is that exciting word which sets one’s imagination soaring. Yes every entrepreneur would love to be known as an innovator, one who has come up with the big idea. But many fall short of being innovators, by failing to implement the idea. True innovators follow the creative business concept past the idea stage and move into product innovation, creating goods and services that are tangible and will make a difference to the world around them. Here are some ideas that can stimulate your creative thinking and perhaps help bring your business to the next level with the power of innovation.

Take advantage of your Uniqueness

Identify what is the biggest difference between you and others in the same business. Do customers notice this and do they come to you especially for that product or service? Do you receive appreciation and compliments for the product or service? Are there even better ways of delivering the product? Have you captured a niche in the market for your uniqueness? Answer these questions and based on your uniqueness, think of making your product -‘one of its kind’ This is the most basic form of innovation – brand or product innovation. An innovative brand will have many fans and followers and your business will win repute as unique and special.

Deliver Value & Convenience -Informatively

Many global brands have realized that though the inputs remain the same, maintaining an amazing momentum in delivering consistent quality to customers, works just as well. Customers almost always opt for convenience and if your product innovation comprises of just a minor makeover, delivering it promptly and quickly into the hands of the customer will make all the difference. Customers are interested in the final outcome and in what way it delivers value to them. You can have the same product but you can think of making the customer experience unique and different in some way, that sets you apart. Customer don’t want a magic formula, they want end user comfort and results.

Rewire Your Brain- Shift your Focus

Its not just thinking out of the box, you have to actually get out of the box, away from your daily grind to allow new ideas to flourish. It is only when you are outside the four walls of your office that you are able to think clearly, generate ideas about product innovation, how to tackle problems from new angles, create novel situations and long term vision. When the mind is uncluttered ideas begin to flow freely about how to take advantage of new opportunities. Innovative thinking rarely occurs while you are stuck in the day to day operations of your business.

Entrepreneurial Learning

Product Innovation can occur in your business by emphasizing on your uniqueness, shifting your focus, taking time out to think and delivering value to the customer in new and better ways. Give it some thought, open your mind to possibilities and they will begin to take shape as innovations.

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Growing a Business

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