5 Essential Articles on How to Innovate in Small Business
So often in business, a new idea or innovation can be the difference between flatlining and growth. But it can sometimes feel like that the solution or change in tactics that could do it is eluding you.
New businesses especially need to crack this problem as the market becomes more competitive. As recently as 2012 - 2014, 1 in 2 UK businesses were reported to be innovative in the areas of product, structure, technology or process - an increase of 8% from 2010, according to research from the Department for Business, Innovation and Skills.
”As recently as 2012 - 2014, 1 in 2 UK businesses were reported to be innovative in the areas of product, structure, technology or process.”
But if you’re struggling, we think we can help. Whether it is tried and tested ways to make your company more efficient or the right mindset to come up with ideas on your own, we’ve got everything you need in our guide to the 5 essential articles on innovating your small business:
There’s no better place to look for inspiration than to have a quick peek at what some of the world’s most successful innovative companies are doing.
So for all the exciting programs and techniques big firms like Google, Tata and British Airways used to stay ahead of the game, check out the guide over on Quickbooks.
Of course not every business can be a Google, but this isn’t necessarily a bad thing. When it comes to innovation, there are a lot of ways in which small businesses have the advantage.
Whether it is the ability to be agile and make decisions quickly, orientate multiple departments towards a new idea flexibly and easily, or developing an inclusive culture, small business can often outmanoeuvre and outpace larger firms.
To innovate truly successfully, it requires more than having a good idea. It requires forming a personal and company mindset built around looking for that extra innovation that will put you above the competition.
”The trick to solving a hard problem is to ask the right question. Take the time to identify the real problem, then formulate a question that will produce answers to solve the true problem at hand.”
Dwayne Spradlin, author of The Open Innovation Marketplace, thinks he can help. By approaching hiring, delegation, and problem solving with diversity and innovation in mind, you could quickly see results where once was gridlock.
Once you have the mindset, you can start looking at concrete ideas to encourage innovation. And as the most successful innovations come from building on something that already exists, you can do far worse than start with what has worked well for other small businesses.
Here with a definitive cheat-sheet is The Balance, with suggestions that range from staff rewards for ideas that are followed through on, putting on workshops, and investing in your infrastructure to make your business more efficient to enhance your team’s capabilities. If something has worked for businesses like yours, you can be sure it is on this list.
At Curve, we know a thing or two about how tech can be used to innovate our lives and businesses, so we can heartily recommend this certified roulette wheel of pieces on ZDNet.
This special feature series covers everything you could need to know, from how companies are approaching IT innovation, to its potential benefits, and even what tech you should consider using, using think-pieces, videos, case studies and research to bring the subject to you in truly comprehensive detail. It’s not to be missed!
Got some articles that you think would be great in our round-ups? Get in touch with us on Twitter and let us know!
Looking to manage your expenses as a freelancer or SME owner? Order your Curve card now at imaginecurve.com.
Curve simply and securely connects your bank cards into one card, giving you an instant mobile view of your spend across different cards and saving you money abroad. Curve was built to help people who choose to work for themselves live the life they love.