There’s no question that innovation is key to success in business.
But what if you don’t know where to start?
Or what if you feel like your ideas are getting stale?
Follow these three golden rules that Founders Space founder Steve Hoffman revealed on The Garlic Marketing Show, and you’ll be on your way to innovating in your business right now.
But before we proceed, don’t forget that this episode is brought to you by videocasestory.com. Click here if you need help collecting, crafting, and delivering customer stories.
YOUR INITIAL START-UP IDEA WILL CHANGE
Starting a new business is always fraught with uncertainty.
- Will customers buy what you’re selling?
- Can you make enough money to sustain yourself?
- What will the market be like in six months?
Many entrepreneurs find that their original start-up idea changes as they navigate these unknowns.
“This is what I learned at the startup incubator, working with hundreds of entrepreneurs, is that: when you’re innovating, usually the initial idea you start with is wrong, or else it’s right but not completely right, and you actually, through engaging in the marketplace, uncover a path to a much bigger idea.”
As you learn more about your customers and the industry, you may find that your initial product or service isn’t meeting their needs.
Or perhaps you’ll discover a new way to reach your target market.
Innovation is key to success in the start-up world, and being open to change is essential if you want your business to thrive.
So don’t be afraid to pivot if your original idea isn’t working out— it just might be the best thing for your start-up.
ENGAGE WITH YOUR CUSTOMERS
Too often, businesses focus on innovation for innovation’s sake.
They assume that if they come up with a new product or service, their customers will flock to it.
However, this isn’t always the case.
In order to be truly successful, businesses need to listen to their customers and engage with them to get a better understanding of their needs.
“Don’t sell to your customers. Engage with them– listen to them and then create different ways for them to interact with your business.”
Only then can they create products and services that will meet those needs in a way that is truly innovative.
By engaging with your customers, you can ensure that your business is always ahead of the curve.
DON’T BE A SELF-DEPENDENT BOSS
Being a boss doesn’t mean that you have to go at it alone.
In fact, one of the keys to being a successful leader is learning to listen to your employees and engaging with them on a regular basis.
By doing so, you create an environment where innovation can flourish.
After all, your employees are the ones who are on the front lines, dealing with customers and clients every day.
“I have an innovation rule for managing your team: It’s called ask, don’t tell– instead of saying: ‘Do this. do that, don’t do this, I don’t want you to do this,’ go up to them and say, ‘What do you think you should be doing? What do you think is the top priority? How do you think you can get better results?’”
As such, they have a unique perspective that can be invaluable in developing new and better ways of doing things.
So if you want to be a truly effective boss, make sure to take the time to listen to your employees and hear what they have to say.
It just might be the key to unlocking your company’s next big innovation.
Obviously, being the brilliant mind that he is, Steve got to share a whole lot more on his episode, and this is only a fraction of it.
So be sure to click the link to watch the full episode, and make sure to leave any questions or comments you have about the episode.
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