Jump-start Your Business: Become an Industry Leader & Increase Your Bottom-line
by Dr. Tylisha Johnson
Does your business need a jump-start?
Are you finding that your business is stagnating year after year with no significant increase in your bottom-line?
Question: When is the last time your business produced a new service or product?
Witty ideas, innovations and inventions are THE KEYS to the Jump-start your business needs!
You can begin by creating an innovative environment that promotes creative thinking. Innovation is imperative to growth and profitability. Of course, your business exists, because you have the answer to a problem. You may also be very successful, because you have been innovative in the past. However, if you are not continuing to be innovative, your company will have the same problem Blockbuster did (nobody wants that). I think that is enough incentive to get READY TO JUMP-START your business with innovation.
Ponder these questions:
Do you know if there is a niche’ target market with a unique problem (that has not been tapped)?
Do you know what other problems your customers or potential customers are having?
Do you know if there are gaps in product lines or services within your industry?
You can do your research to try and get answers to these questions, but it is not enough to do your research and development internally. You must create an ecosystem of contributors to innovation that taps into the ideas of your customers, suppliers, business partners, employees, and business network contacts. Here are a few tips for creating this innovative environment:
- Develop a system to collect new ideas from your contributors (set up a link on a portal or your website and/or have a drop box in the office).
- Monthly meetings should include brainstorming and small group mastermind sessions. Offer an incentive and reward innovation and celebrate success during the launch of the new product/service.
- Survey your current and past customers for feedback or even give them a space to submit their idea for possible reward (if launched).
- Look for the brightest and best innovative thinkers in your industry and pay them top dollar. It will be a very wise investment.
Here are few things to consider before you Jump-start your business with innovation or a new invention:
Assess Business Value: Conduct a feasibility study to include a cost-benefit analysis, knowing your target market and project how it will affect your overall company short- and long-term.
The BEST part about Innovation and Invention is:
Industry Leader: Your company not only be “on the cutting edge”, but “BE THE EDGE”. Your company will have a unique competitive advantage in your industry.
Increase the Bottom-line: Your market share and bottom line increases with every new product/service that is in direct strategic alignment with your vision and brand.
Let’s get started! JUMP-START YOUR BUSINESS TODAY!
Transcending Horizons Enterprises can help you develop your innovation contributors ecosystem, assess business value, generate witty and innovative ideas. Schedule your Complimentary Discovery Session TODAY go to: www.calendly.com/transcendinghorizons ! Aspire Higher and Soar Beyond the Limits in your Business! Come SOAR with us!