How to Accelerate Innovation In Your Business
More and more it appears true that the only way businesses today, whether large or small, are going to survive and thrive is through accelerate innovation. Your business, even if you’re an independent professional or small firm, needs to stay on the leading edge…or die.
There’s an old saying…”if you’re not moving up, you’re moving down, and that there’s no such thing as hovering.” Or the other saying of – “We are like Trees, we are either Growing or Dying”. You can’t remain stagnant and hope to compete in today’s economy. The very worst thing you can do is to hope that the economy will somehow, someday improve.
What if it doesn’t for a very long time? The current economic downturn has been around for over two years with not a lot of light visible at the end of the tunnel. A lot of businesses are doing just fine, thank you very much. They’re not doing fine because they are lucky so-and- so’s. It is because they’ve adopted a strategy of Accelerate Innovation. It isn’t a one-time flash-in-the- pan. It’s simply the only way to do business these days. They’re taking consistent, effective action to get to be known as the leaders in their particular fields. They….
❥ Continually improve their marketing messages… They realize that clients are moving targets. What appealed to them today might be different tomorrow. So, they reassess their messages and communicate what’s relevant, right now. They zero in on the issues, challenges, problems and pain that are most prevalent.
❥ Develop competitive new services… The wonderful advantage professional service businesses have is that they can create new services on a dime. Very little expenditure of time or money is required. It just takes some insight, creativity, and effort to put their ideas into action.
They don’t settle for their existing services because they’ve come to know that the most profitable one may be the next one they develop.
❥ Expand their contact with current clients… It always costs less to sell current clients new services than to find new clients. Successful businesses have established ongoing client contact programs, and continually offer something new. What are you doing to keep your clients happy and loyal?
❥ Find new ways to connect with prospective new clients… They grow their mailing and e-mailing lists, providing free samples of valuable information and sending content-rich e-magazines. They focus on providing value and gaining credibility so when prospects are ready, they’re seen as the vendor of choice.
❥ Develop or improve their Internet/web presence… They realize that there is no more efficient vehicle than the Internet to get word of their services out. And they’re not complacent…rather, they’re restless…always looking for a better way to present their services. If your site and your message are stale, it’s time for a face-lift.
❥ Partner with other business owners… The concept of joint-venture partnering has never been more relevant than now. Smart business owners are not just selling their own services… they’re selling each other’s services as well…and reaching a much wider audience.
One More Thing on Accelerated Innovation…
We’ve discussed some of the innovative marketing strategies smart professionals are using to accelerate results. But how do you get moving on all this stuff without getting overwhelmed? Consider…
❥ Doing one thing at a time… It’s recommended that you create a big “Master List” of all the things you could do in your business to accelerate your marketing. Any time you read a business book, or hear a new idea, write it down on this list and review the list weekly, at minimum.
❥ Prioritizing and focusing… You can’t do everything on the list. By just doing one or two a month can yield massive rewards, eventually. Review your list and determine which items will likely have the best return. Also, work at implementing the simple things as quickly as possible.
❥ Creating an action plan… Complex projects can take time and so, require planning. An action plan is simply a list of things you need to do in some form of chronological order. Keep it to a page or less. Better still, make it part of your agenda process.
❥ Getting/keeping a coach/advisor/mentor… The coaching/business advisory field is growing by leaps and bounds for a very simple reason – it works! Having someone who is as committed to your goals and success as you are is a very powerful thing. Set very specific goals for accomplishment, and have your coach/advisor help you keep to your action plans, and support you when you get stuck.
❥ Becoming a fanatic… You’re not going to get far in your business if you just want to lay back and simply daydream about your success. Jump in with both feet, and do ten times more on a project than you normally would. Push your envelope, push your boundaries and you’ll see significant, corresponding results.
For those of you, who want guidance in taking your businesses to new levels of innovation and results, please feel free to call my ActionCOACH office, or email me at email@example.com. We are happy to help.
Maresa Ng – Asia’s Top Business Growth Specialist
Maresa Ng is a Passionate Entrepreneur who helps business owner grow their business to a stage where it is commercial and profitable and can continue to work without them. Maresa has worked with thousands of business owners and she has been turning around businesses since 2008. She was a corporate and investment banker, but now she is the leading Business Growth Specialist & Business Advisor in South East Asia. She always believes, as entrepreneurs, you can have Great Quality of Life through Great Business!