INNOVATION

What is innovation?

It can take many forms:

Process

Finding ways to become more efficient and productive in your business. This could include automating services or restructuring the team.

Service

Making changes to an existing service, or creating a new one entirely. For example, this could include moving a service online or pivoting an existing service for a new customer demographic.

Product

Improvements to an existing product adding a feature or reducing manufacturing costs. This could include adopting new processes or pivoting an existing product for a new industry.

Marketing

Finding new and creative ways to market and sell to your customers. This could include new branding, packaging or prices.

Management

Improving and innovating the way the business is managed. For example, re-evaluating the leadership team or business strategy.

Revenue

Any innovation in which the main goal is to increase profits or revenue. For example, rethinking the pricing strategy.

Business

Any innovation to improve the core business strategy and business growth process. This could include entering into new partnerships or investing in new technologies.

Industry

Any innovation in which the goal is to adapt the industry or market for your product or to create a new market entirely.