“Nonconformism” is a value that we inherently associate with anyone who has an entrepreneurial spirit. Improving, overcoming and looking for the best version of things is vital when we are in a business environment and nowadays, with global markets and so much competition, not innovating within a company is a direct path to failure.
The first step to business growth is to foster an “innovation culture” in your team.
How can innovation help a business?
Innovating is one of the best tactics to set yourself apart from the competition or even to overcome them. Testing new innovative strategies in different areas of the company is the best way to scale market positions, but innovation requires new ideas, resources and dedication to achieve goals.
Innovation must be part of the day-to-day and internal system of the organization, the necessary mechanisms must be put in place to make way to these new forms of production. But how can you innovate in a company?
Not innovating within a company is a direct path to failure.
#1 Find a new need and cover it
Industries are constantly evolving, keeping up with the latest developments in other sectors is a good way to look for innovational opportunities for your sector. Finding an “empty space” in the market is not easy, although with the tools available today we can investigate and be inspired by what is happening in other sectors.
#2 Be flexible with the optimisation of processes.
Many businesses, especially the larger ones, are reluctant to change their working methods. There are multiple processes that could be improved, they can be small day-to-day actions or larger actions, both internal or external ones… The important thing is to question processes in order to lead to their improvement or automating them both inside and outside the company.
#3 Distribution and placement of your product or service
The internet, globalization and connection of international markets removes many barriers for almost any type of product or service. If you’re in a saturated market, finding new ways to distribute or place your product can be a very favorable way to innovate.
Collaborate with external agents. Whether it be other brands from different sectors or independent professionals, create new collaborations with people, institutions and organizations that can bring a new perspective to your way of working and what you offer.
#5 Update your product or service
This may sound very obvious but there are many companies that do not carry out this practice. Technology is advancing fast and we must maintain keep what we offer interesting and competitive. It is also important to listen to our customers and potential consumers to tailor our product or service to their demands.
The first step in creating innovation in a company is to foster a culture of innovation among its employees. Collaborate with the people who are part of your team, listen to them and dedicate specific time slots to come up with new ideas or proposals for improvement.
Everything is impossible while it seems to be.