Building Innovation Into Your Business
19/10/2022
Having an innovative business is a key selling point, or point of growth, for many companies.
Without innovation, businesses seem to halt their development and potential, however, welcoming innovation into your business will bring fresh ideas, perspectives and services which can continue pushing success for your brand.
Here are our top ways of building innovation into your business…
Innovation Skills for Employees
Your business is built through your employees, and employees not having any innovation skills will hinder progress. Organising workshops, meetings and supporting new ideas will allow your employees to begin thinking more innovatively, therefore, curating ideas for progress.
Creativity only succeeds in brilliant environments – allowing your employees to have free roam when it comes to generating ideas, and encouraging pitches at meetings will be very beneficial when welcoming an innovative approach.
Starting Small
An innovative approach doesn’t mean that you have to scrap all of your brand guidelines and start the business all over again – starting with small and reasonable ideas, whether that be about the services you offer to clients or within your own company, is always best.
Begin by visiting your current offering and the way your business functions, ask for feedback and identify areas where small improvements could be made, whether that’s a new approach to meetings or adding to your service range.
Welcoming Experimentation
When it comes to innovation, experimentation is something that closely follows. In small businesses. It may be tricky to secure the correct funding for big projects so you’d rather experiment with smaller ones until you find your ground – developing a number of innovative ideas that you’d like to implement into your business and trialling them for a period of them.
Once you have experimented, it’s great to ask for feedback from employees or partners, to analyse the success of the experiment and whether it’s time to move to your next one.
Keep Persevering
You have to keep in mind that not every idea will be the ground-breaking one, and not every idea will stick or plan out as you thought, but that is a part of business development and it shows that your company is open to trial and error when it comes to innovation.
If your idea hasn’t worked out – learn and develop from that, and note understandings for the next innovative breakthrough.
Having an innovative business is extremely sought after by employees and buyers, so if you’re looking to sell your business, it’s key that innovation is one of your selling points.
Do you know how much your business is worth? Check out our FREE and instant business valuation below!
Click Here to Use Our FREE Business Valuation Tool
Get quick and easy insight into the real value of your business, without any obligations.
At Intelligent, all of our experts use a specific formula that will give you a free and highly accurate baseline valuation so that you've got a figure to work with that most realistically resembles the value of your business.