4 Reasons to Push For Innovation At Your Business

Running an innovative business doesn’t necessarily mean you have to come up with the next iPhone invention or Tesla car brand, but it does mean you have to think creatively and outside-of-the-box. Innovation is the key to standing out from the competition in today’s overly saturated market.

Successful businesses are all about innovation that takes form in all shapes and sizes. These companies recognize trends before they become trends, and they make a point to adopt them as soon as possible while the rest of the industry plays catchup. Whether you are a business owner, an executive at a Fortune 500 company, or an employee at any level, it’s vital to push for innovation in your company to reap the benefits as early as possible. But some managers and business owners will need convincing why innovation is so important, so here are four reasons to help them change their minds.

It Prepares You for The Future and Differentiates Your Business from the Competition 

Even if the innovative practice doesn’t catch on immediately at your organization, there is a high chance it will at some point, so this will cut the learning curve in half and help your company be prepared once it becomes an industry standard. By investing in innovative technology as soon as possible, you’re able to overcome the teething problems that many businesses will face when they are forced to adopt it, rather than to embrace the technology. This will make everyone’s job much more comfortable and provide plenty of benefits for both customers and staff. Innovation is essential to differentiation today.

It Will Make Staff More Confident and Excited to Work on Different Project

Speaking of staff, encouraging them to take KUO courses in operations management and technology will make them more confident in dealing with the innovative procedures that will soon become the norm. This is especially true for the younger generation of workers who are always looking for watts to make their workday more interesting and efficient. If they expose themselves to the type of practices early on, they will be able to use them and train new staff when needed without the risk of crashing the system or making a severe error. Equipping your team with the knowledge and expertise needed will serve your organization in a positive manner for years to come.

It Will Boost Your Brand Reputation and Brand Awareness 

Customers, investors, clients, and the media that see your willingness to embrace new technologies and other operational advancements could help boost your reputation in your industry and across the business world. The modern world adores innovative companies that are looking for solutions to improve the experience for everybody. If you demonstrate that your company puts a heavy focus on innovation, you can attract positive attention from a variety of stakeholders, including the press. This could also draw customers towards you and make your business an attractive place to work, increasing your profits and helping you achieve growth faster and more efficient.

When my team built the Wellnessirl.com platform, we knew that we wanted to build a unique wellness platform to help healthcare providers find stress relief and engage in self-care (as this group suffers from the highest levels of burnout at work). We built this one of-a-kind platform and launched it, and helped attract attention from top-tier media outlets including, Inc.com, ThriveGlobal.com, FastCompany.com, and so many more. Due to the innovative and unique brand, the company is growing at about 10 percent month-after-month.

It Will Improve the Customer Experience and Increase Your Overall Customer Acquisition and Retention Numbers

Customers want a streamlined experience that is easy and straightforward, especially while navigating a website or e-commerce shop. By innovating your business practices online and in-store, you can make this possible for them. Adopting new methods of shipping, payment, security, or dealing with queries and complaints will transform their experience for the better, and even if they were not fond of your business beforehand, this attitude could change following innovation.

Much like an increased reputation attracts more customers and keeps them coming back, so too will an improved user experience, and with enough preparation, you can make sure there are no hiccups along the way. Ensuring your consumer touch-points are easy to navigate both online and offline is key to attracting and keeping your customers over the long-term. 

Strive for Innovation Across the Organization by Giving Employees Freedom to Explore Ideas and Provide the Tools They Need to Succeed

An innovative company will be rewarded faster than you might expect. Even though some innovations won’t work out as hoped or happen as quickly as you wanted, the majority become industry-wide practices that everyone adopts at some point. If you want to present your company as one worth watching to consumers, investors, and the media, then building an innovative framework for all departments in your organization is the best place to start.

10 Signs Your Business Is Stuck In The Past

Pixabay. CCO Licensed.

Every business needs to be able to evolve with the times. Fail to keep up, and you could find that you’re unable to compete with the efficiency of other companies. Customers may also lose trust in your business if you still rely on old methods. All in all, refusing to adopt modern methods is bad for business.

There are many ways to determine whether your company needs to evolve. Here are ten tell-tale signs that your business is stuck in the past (and what you can do to drag your business kicking and screaming into the present).

You don’t have a website

Not having a website is 2020 is unacceptable. Many companies nowadays rely on a website to gain new customers. Without a website, your company may not seem official to most people.

Building a website could be the first important step to modernizing your company. You can do this with the help of a website development company or you can attempt to build your own website (the likes of WordPress can allow you to build a website for free with no programming knowledge, but generally a professionally designed website will look better).

You have a website – but it’s not mobile-friendly

It’s possible that you may already have a website, but it may not be mobile-friendly. Nowadays, more people use the internet on their smartphones than they do on PCs. If your website isn’t mobile-friendly, you could scare off customers that discover you on their mobile devices.

Most modern websites are mobile-friendly. You only have to worry if you haven’t updated your site in more than a decade – anything pre-2010 is unlikely to have been designed with smartphone users in mind.

You don’t use social media

Social media is an important marketing tool nowadays. Many businesses use it to keep current customers in the loop and to attract new customers. It can help you to build a web presence beyond a website and it can help you to look more official.

Facebook and Twitter are the two most effective social media platforms for generating leads. Setting up pages on these platforms is free, as is posting content. If you’re not savvy with social media, it’s always possible to hire a social media marketing company to help you.

You still spend money on phonebook adverts

Phonebook advertising is largely defunct nowadays. When it comes to searching for businesses, most people use online search engines. Unless your target market is over 70, you’ll generally find that you get little business from a phone book advert.

SEO (search engine optimization) is a much more effective marketing strategy. This can help to boost your rankings on search engines so that more potential customers stumble across your company.

You still use a fax machine

Fax machines were once commonly used for copying and sending documents. Nowadays scanners can be used for this purpose. However, even scanners are going out of fashion – most documentation is now digital and so it’s much more common to email documents and store them on the cloud.

Some companies still use fax machines for security reasons (you can’t hack a fax machine). However, for the majority of companies that don’t use a lot of paper, there’s little to no reason to own a fax machine.

Pixabay. CCO Licensed.

You still rely heavily on paper

A growing number of modern companies are going paperless. Now that files can be stored and sent digitally, there’s little need to keep and send paper copies. Paper files can take up a lot of physical space and cost time and money to print and send. Digital files meanwhile take up no physical space and can be emailed for free instantly. On top of this, digital files are also better for the environment.

Start using less paper today. There are guides online on how to go paperless that could be worth reading.

You don’t recycle

Modern businesses are being encouraged to recycle to help protect the planet. Refusing to recycle your waste could have a negative impact on your reputation. Certain items worth recycling could include old electronics, old furniture, paper, and plastic packaging.  

You do your bookkeeping manually

Accounting software has made bookkeeping a lot easier. Rather than manually adding up taxes and expenses, it can all be done automatically as you are earning and spending. This could save you a huge amount of time and could likely reduce the risk of human error.

There are many accounting programs out there. It’s worth comparing various programs to find the best-suited software for your needs.

You don’t use the cloud

Cloud technology has taken off in the last decade. Using the cloud, you can keep backups of files on a remote server so that they can be accessed from anywhere. In the event of a natural disaster, a fire, or a burglary in which computers are damaged/stolen, this could give you access to your files so that you can still continue to keep your business alive. Access from any location could also give you greater flexibility as to where you work – you don’t have to work from your office.

With the help of IT consulting and support, you can explore ways of integrating cloud technology into your business. There are many different cloud providers out there to choose from.  

You only accept cash

Fewer customers are now carrying cash around. If you don’t accept card payments, you could find that you’re driving away customers – especially if there aren’t any nearby cash machines.

You can now buy mobile card readers that can be used practically anywhere. Card payments can also be accepted online by using a secure payment gateway on your site. Do your research to find the best forms of card payment for you. 

You don’t use accounting automation software

Accounting automation software is a type of software that automates the process of accounting. It has the ability to automatically generate financial reports and manage payrolls.

Some of the benefits of using accounting automation software include:

- Reduced time spent on manual data entry

- Reduced Human error

- Increased accuracy