Innovation is not difficult, but it is scary

Published on Business stage: Unlocking

Adrian McDonaldAdrian McDonald, Founder & Director of Ledger Money

When you read blogs, papers and magazines nowadays, there is a constant stream of content urging business owners to change this, start doing that and innovate here, but don’t you dare stand still or your company will die tomorrow.

Scary thought isn’t it?!

Well I’m afraid to say it but they are right.

Gone are the “good old days” when a business could afford to do the same thing year after year. That is company death by inertia and it’s a massive problem, whether we care to admit or not. However don’t despair, as innovation and developing your proposition is not as difficult as you may think, indeed you may already be doing it without realising it.

What is innovation?

Well in simple terms, I believe it means creating a company culture that empowers your team to constantly search for ways to change and develop what you do, how you do it and critically why they come into work every day.
Launching or creating the end product shows that you have innovated, but it’s the leadership of a business, large or small, that consistently embraces new ideas that will ensure growth and prosperity.

Innovation should not be a project or a one off and if you think it is, I’m afraid you’re going to be in trouble a lot quicker than you could imagine.

So here’s a simple test to see if your business is innovating in your marketing strategy – 

  • Do you have a Snapchat account?
  • Do you market your company on Instagram?

Now some company’s owners or managers will read this article and may not even have social media accounts and still view it as that thing we just don’t need to do. 

Well folks, even if you have a Twitter account its bad news I’m afraid, you’re already behind the curve.

So the question business owners and managers should ask themselves isn’t how much is innovation going to cost? Or how long will it take to deliver a profit; but rather when was the last time I sat down with the company “trouble maker” and asked them for their thoughts? 

HINT – they usually have great ideas.

You will be amazed at how easy innovation takes hold and starts to naturally happen.

It takes guts but you will start to move your mindset to planning for the future and not trading into obscurity as the market moves away from you.

Have the word “innovate” writ large on your screensaver and it will save your business, trust me.

So get going, you haven’t the time to lose.

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