How a Business Owner Can Build a More Innovative Business

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Photo source: Jeremy Wong

Jenny Holt, | To become a leading company in any industry, like Google, Apple and other trailblazers, your business has to focus on innovation. It’s essential to overcome your fear of change and look for ways to turn your business into a more creative, forward-thinking venture. You can start making these changes today in the following ways.

Create a More Creative Business Culture

Unfortunately, when it comes to running a business, many leaders play it too safe. They never think outside the box and don’t allow their employees to do so either. These restrictions can affect the confidence and motivation of everyone in an organization and it may prevent a business from growing to its full potential.

P&G is a good example of a company that has introduced a more creative business culture in recent years. Inside a decade, P&G managed to double their Tide products revenues from $12 billion to almost $24 billion in a decade, by introducing a more innovative culture.

If you encourage your employees to become more creative, they will be more willing to take on more responsibilities and they will be able to contribute more to your business. Typical methods you can use include brainstorming sessions, more inclusive workplace meetings and any other activities that will allow your employees to express themselves.

Develop Your Mental Skills

Your brain is your most valuable and effective business tool. Every great invention or commercial breakthrough starts with a good idea, so you should look for ways to continually improve your mind’s capabilities. Some simple tests and changes to the way you live your life could make all the difference and allow you to think in a clearer and more creative way.

Research and Development

The most innovative organizations are always looking forward and are always looking for future opportunities. Setting up a research and development team or department in a company is one of the ways this objective is achieved. Some ideas will fail, but the research and development efforts that produce positive results can lead to substantial gains for a business.

Always Stay Ahead of the Crowd

Like Manila Electric, SM Investments and other top companies in the Philippines, you should always try to be a few steps ahead of your competitors. You can do this by always looking for future business opportunities and breakthroughs that will benefit your organization. Attending important industry events and building a large business network will ensure that you keep your finger on the pulse and see opportunities before everyone else.

The type of business you build depends on your mindset and your vision for your company. The more you focus on being creative and different, the more likely it is that you will build a more innovative, industry leading business.