BY: NEISHA SANTIAGO

Innovation is necessary for every company’s continuously growing. Nowadays, the business environment is highly competitive, especially for customers who have become more demanding and savvier. Entrepreneurs need to have advantages to stand out for their competitors and knowing that Innovation can be the key to boost company productivity, growth, and profitability.

It’s important to know that Innovation doesn’t have to be a drastic change; it can be simple improvements in a specific area.

Small Changes, Big impact

Improve Customer Service and Sales
Avoiding improving your products and services can put you at risk of losing clients to more innovative competitors. If you invest in Innovation, customers will notice and recognize the extra value you’re positively bringing them. These changes should translate into more sales and customer satisfaction. You can start by asking simple questions or sending surveys via e-mail to identify possible product and services improvements.

Start Implementing The 3 ‘R’s
Innovative Business Development Companies clients have been implementing operational efficiency by Reducing, Reusing, Recycling the number of unnecessary waste. It’s Really simple!

1. Reduce the amount of waste produced.
2. Reuse machinery as much as you can before replacing them.
3. Recycle items wherever possible.

Using the 3 ‘R’s also minimizes the amount of space needed for office spaces, where waste materials are disposed of. The goal is to be on the lookout for ways to reduce waste continually. This type of Innovation can bring many benefits, including lower costs, better profit margins, improved customer service, and increased competitiveness.

Expand your Market Position
Innovation can help you predict market changes more quickly and get ahead of opportunities, so you don’t catch those changes by surprise. It can also help you differentiate your company from the competition. Such Innovation can be implemented from analyzing market trends, listening to your customers’ needs, suppliers, and advisors, and studying what competitors are doing to find opportunities. It’s often useful to explore what’s happening in the industry in other countries to have another viewpoint. You can find supplementary ideas for your company by analyzing what leading companies are doing abroad.

Improve Employee Relations
An innovative workplace is always encouraging for employees. A challenge usually involves volunteers; this is an effective way to work on your employer brand and identify talent. Because employees are often a company’s best source of ideas, it is essential to listen to their feedback on Innovation in different areas of your business, including how to improve products or services, marketing, and efficiency. They can give valuable
insights into ways to innovate, and they will appreciate having your ear.

Promote Culture Innovation
Organizing a challenge is always a great way to promote your company image as an innovative, collaboration-focused company, not just with participants but also with the public if you know how to improve the media initiative. There are many ways of getting the word out, for example, spread it by social media platforms.

“Without change, there is no innovation, creativity, or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable”
– William Pollard

The more you talk and encourage your business challenges, the more you will mobilize your stakeholders and get them on board with your innovative image.