How Small Businesses Can Innovate and Expand
Are you ready to innovate?
Innovation is one of the easiest ways to discover new opportunities that can help you gain traction, both online and offline. Did you know that being in a small business does not mean you should remain small? In fact, you can do bigger things not only for your own benefit, but for the benefit of others too.
The concept of innovation
Innovation simply means new idea or method. It is a new way of doing something. It is obvious that in every business, there are two vital factors that determine whether the business succeeds or fails, and those are:
2. Project management
Okay, let me quickly show you how to gain the upper hand in your small business. Are you ready?
Become an innovative marketer
The first challenge every business (large or small) has is marketing. How do you efficiently reach the right customers, using the limited resources (time and money) at your disposal?
First and foremost, “marketing deals with presenting your products in order to build interest in the minds of the customer.” The essence of marketing is to build trust with potential buyers and persuade them to buy out of their own will. Most online entrepreneurs get it all wrong. They use hype and unknown terms to send their message across, forgetting that some of their customers may not have graduated college.
If you want to communicate better, it is high time you begin to talk directly to your target audience in a language they will understand. For example, when you write copy or article, understand that what matters is the solution your product delivers. Did you bring smiles to the faces of your customers?
That should be your major concern. Innovation is not difficult as most online marketers see it. In fact, you can become innovative just by understanding who your ideal customer is. Do you know their demographics (age, sex etc.)? What about their ‘intent’ when they search for a particular keyword in Google?
Did you realize that by knowing who your ‘ideal customer’ is, it would be a lot easier to communicate the value of your product better? This is exactly what innovators do in business. It does not matter the marketing channel you decide to use to acquire customers, it is about the context of your message that will either persuade them to action or discourage them.
Manage projects like a pro
Successful small businesses (even the larger ones) got to where they are today because of how they managed each project that comes their way. The truth is that when you are efficient in marketing, the by-product will be new projects from business and customers alike. For instance, if you run a digital marketing business, you know that exceeding client’s expectation is what drives referrals and the potentials to land bigger deals?
Question: Since project management is an indispensable aspect of building a successful business, how do you get it right at all times?
Answer: The best way to manage projects like a pro is to simplify the whole process.
There are no shortcuts to project management. It is just like marketing a new product, market research and analysis, team management and sales tactics have to be in place. Once you can simplify what needs to be done, the rest will align perfectly. For example, if your company is hired to recruit 10 website developers from 3 countries: United Kingdom, U.S. and India, how are you going to embark on this project? The project might seem daunting initially, but once you figure out how many developers you will need from each country and where to post the job position - half of the battle is already won. There are also many recruiting strategies for small business that you could use. That is how to simplify a business or project.
Everyone can innovate
I strongly believe that if you are in business, you are 98% qualified to innovate. In other words, you can try new ideas or introduce a new way to do something. As you take action on these basics, your small business will continually acquire new customers and expand. Successful companies like Apple, Nike, Hp and Facebook has made innovation the heartbeat of their business.
If you carefully study these brands, you will discover that “they know who their ideal customer is, and what they want to buy.” Do you know your ideal customer? If yes, then find a better way to serve them better. That is innovation in business.
About the author:
Michael Chibuzor is a small business writer. He founded http://queryletters.com to help you do BIG things in your business.