| Does your business need a boost? Innovations offer | | | | 4. Streamline Operations - Innovative ideas can also |
| a variety of advantages to all types of businesses in | | | | apply to internal business procedures, such as |
| any industry. Here are a few benefits of applying | | | | document handling procedures and manufacturing |
| innovative ideas to your business. | | | | procedures. Many business procedures can be |
| | | | eliminated or simplified to improve operational |
| 1. Create New Products - Innovations can include new | | | | efficiency. Diagram your business procedures and look |
| products or services that are appropriate for your | | | | at the various steps involved - consider combining |
| business. Ideas for these new products or services | | | | similar steps or eliminating steps that don't contribute |
| may come from company personnel, organized | | | | to the ultimate goal of the procedure. |
| brainstorming sessions, client suggestions and | | | | 5. Position Business As An Innovator - As your |
| requests received by customer service | | | | business develops innovations and introduces them to |
| representatives and sales representatives. | | | | the market, the business will position itself as an |
| Suggestions from clients and prospective clients are | | | | innovator in the industry. Leverage your innovative |
| valuable "seeds" for brainstorming sessions. | | | | activities through advertising and other |
| 2. Develop New Features - In addition to developing | | | | announcements to show customers and potential |
| new products or services, innovations can also relate | | | | customers that your business is a leader. |
| to new features that enhance an existing product or | | | | 6. Create A Culture of Innovation - Develop a "team" |
| service. Suggestions for these new features may | | | | approach to innovation in your company. Teach all |
| come from clients, customer service feedback, | | | | personnel about the innovation process and explain |
| market commentators and other sources. New | | | | how innovative activities strengthen the business. Use |
| features are often faster and less expensive to | | | | innovation contests to identify new ideas and make |
| implement than creating new products, and can | | | | the process fun. Celebrate new innovations and |
| provide a strong competitive edge in the market | | | | reward people who actively participate in the |
| which leads to increased sales. | | | | innovation process. |
| 3. Enter New Markets - Many businesses use | | | | 7. Attract Top Talent - Many potential employees |
| innovative thinking to find ways to adapt existing | | | | and contractors are drawn to market leaders. These |
| products or services to new markets. Brainstorming | | | | people see an innovative company as a desirable |
| sessions often produce ideas for new uses of a | | | | place to work. By positioning your company as an |
| company's existing products that provide an | | | | innovator, you can attract a large group of qualified |
| opportunity for the company to enter new markets. | | | | candidates when you have open positions. |
| Look at unmet needs in other markets and consider | | | | Start developing innovations in your business today |
| how your existing products or services can be applied | | | | and begin to enjoy these benefits. |
| to satisfy those needs. | | | | |