Innovate – to introduce something new; to make changes in anything established, especially by introducing new methods, ideas and products.
Businesses and organizations need to innovate in order to grow, remain competitive, survive and thrive. Often, innovation is only associated with wonderful technological advances with large companies such as Apple, Google, Facebook and GE to name a few. These companies certainly are innovative, but what about smaller companies and organizations?
If we use the innovate definition of “make changes to anything established”, we can see endless possibilities because “anything established” can take on many forms.
Even smaller companies can make positive changes in regards to their products, services, methods, marketing and customer base. Here are a few examples of smaller enterprises innovating and making changes:
A manufacturer saw the need to make changes in their company culture because they have a very experienced yet aging workforce. Their culture needed to be changed so that it was more appealing to a younger generation of workers.
An independent insurance agency wanted increased sales and profits. They used a systematic approach to identify niche opportunities for sales of insurance policies which increased their book and profits.
Another manufacturer saw the need to diversify their customer base and product offerings because their very focused customer base and product offerings led to huge swings in sales and cash flow. So they innovated and acquired another company that made complementary products and offered an additional customer base.
An internet marketing firm was not meeting growth goals. They innovated and changed their own marketing methods to include some select traditional marketing methods.
Yet another manufacturer wanted to increase sales and profits through new product development. They utilized a unique method to generate new ideas for products. They ended up identifying and developing a new product to present to the commercial kitchen sector.
What is common among these companies is a desire to innovate and change. They all used a systematic approach to innovation. They also invested some time and money into their efforts.
Innovation is not just for the large companies. Conder Business Solutions has developed the unique System of PiTM and the Optimum SolutionTM to help your company innovate, change and become more successful.
Contact us today to learn more.