Innovationthe only constant in the business world.
If you do not innovate, then, you will fluctuate. Many businessmenmay it be start-ups or established often find it challenging to innovate their businesses to keep with the demanding market that it shy, when theyve reached the plateau of the growth curve, they are faced with these three critical decisions: will I follow trends or be the trendsetter, what should I keep and let go and what should I do or not to do.
For most innovators, their mantra is focused on the less is best policythis means removing just the right amount of things in the right way at the right time to achieve maximum effect.
These six rules will help you guide through that discipline to improve your business.
#1 What isnt there can trump what is
In 2003, Jim Collins wrote in his USA Today article that a great piece of art is composed not just of what is in the final piece, but equally important, what is not.
Automotive youth brand Scion might have taken this principle to the next level by creating their fast-selling xB modela small and boxy car model that was intentionally and virtually bare except for the engine. Gen Y buyers had to invest almost $15,000 just to make their cars more personalized and make it to a statement car. Of course, most of these parts and services are offered by Scion.
#2 Simple rules make for the best customer experience
Forget about hierarchy and control when you want to make something done. Sometimes, in the business world, customer satisfaction is achieved through vital and mutual agreements between the employer and the employee (or the company and the client) that both parties understand and is accountable for yet open to individual interpretation.
#3 Limited Information leads to Bigger Imagination
As businessmen, we all want our product to be out there that is why, we engage in advertising and marketing. And as much as possible, we want to give our target market the 5W and 1H of our company.
But the most engaging ideas are often none of those thingstake for example Cadburys 2007 commercial with a gorilla drumming to Phil Collins songsales rose 10% in two months after it was shown and even had 7 million hits on Youtube!
#4 Focus on break in Breakthrough
Innovation demands a break from the norm. So, if you are looking for ways to make your business rise above your niche or competitors, look for alternatives that make you rise to the top.
Philippines is a growing economy and many Western companies are investing but it is hard for them to establish a business without the proper requirements; that is why, they go with virtual office spaces to touch base with the local market. It is more cost effective and gives you a prime location in the countrys CBD so that you dont have to worry about renting office spaces which, sometimes, can be very expensive.
Businessmen these days need to cut out the noise amidst their fast-paced life and need to re-evaluate what will make them grow.