5 KEYS TO BUSINESS INNOVATION SUCCESS
To ensure success as an entrepreneur you must make critical decision on which opportunities to seize, and then effectively and efficiently execute, manage, and improve them. Not implementing new projects and initiatives is a sign that your business is struggling or becoming stagnant.
Failure to know where to invest project time and resources contributes to business not reaching their full potential. When a campaign is decided upon and we have designated time and resources to the aforementioned campaign there is still often a struggle of having the overall campaign lifting off and struggles to move in the direction of the goal of the campaign so all efforts are abandoned.
Does this sound familiar, we hope not but if it does let’s examine how we can avoid all the ineffective and inefficient efforts so your valuable time isn’t wasted. Here are our Be Wise innovation keys to success that organizations and companies of all size can do to ensure the success of their new business initiatives.
Build Big Changes with Small Steps
Choose wisely, and start small by taking on 1-2 projects or initiatives at a time. Whether you are an established business with an existing client base or are a new emerging start-up business taking on too many projects can be overwhelming. This is true in the personal realm, all big change happens with small, focused, and intentional steps. We don’t recommend developing a new product, launching a website redesign, pursuit of funding, grants, and external financing, developing the roles of responsibilities of a position, and reviewing internal policies all at once. Any of these large tasks are extremely important, but are not business as usual and so focus on one so that your efforts are proactive and concentrated. Decide what is urgent versus what is important and manage your priorities.
Invest your time and resources into the realm of urgent, prioritizing the critical initiatives, followed by the initiatives that have the highest return of investment, and work on these projects in sequence, not simultaneously.
Be a Leader, not the Boss
Many business owners come up with the ideas but lack the skills to execute these ideas. Often we rely on the building of process-driven teams and employees to help these initiatives come to life. In small business, the founder is usually highly creative or at least highly ambitious with lots of big amazing ideas. This is wonderful; it is this kind of passion that makes being an entrepreneur so exciting.
Don’t fall in the “I Dream, you do” paradigm, or sometimes “Do as I say, not as I do” mentality because this can create frustration amongst the team that brings your dreams to life. The goal is to nurture communication and understanding within your team to that these company-building initiatives or projects stay on track and maintain momentum.
When building a team, identify which members or employees are unable to take on new things, knowing what kind of personality you have, as well as the personality types of your employees will give insight into which employees can manage new tasks. When all else fails create roles for new tasks and initiatives, the goal is growth.
Ask for Help
Yes, you’re a strong independent business owner, but no man is an island. Don’t be scared to reach outside of your business or organization to get help, interdependency is what makes a society progressive, not to mention that hiring consultants and services is a great way to network. You also get the focused attention of someone specialized in a particular areas who can move these new projects forward and can achieve better results and faster than one’s own employee.
If you ask for help in-house consider helping the development of your team by consulting what area they could use support in, when you ask for help and allow yourteam to ask you for help and support you'll see how this approach is a game changer. Having this relationship also allows you to advance an individual's leadership development through coaching.
Sometimes, old or existing employees can resist change; hiring a new individual to initiate these changes sequentially can be an ideal practice. This new role often inspires existing employees to adopting the new initiatives and participating in the development of new projects. Change management in an organization can be a huge cultural shift in the work place, so having one person oversee that change has many benefits.
These roles specializes in accountability and inspiring motivation, think successful sports coaches who motivated entire teams to adjust their strategy mid-game. Having a designated team member or employee influence positive motivation while offering “tough-love” signifies the company’s commitment to integrity; walking the walk and not just talking the talk.
Critiques are Critical
Recognizing the demand of these big changes and committing to the additional work they require is essential. Resilient attitudes void of excuses cultivate an atmosphere and culture of integrity in the work space. Inspire yourself and others to be their best professional selves and everyday your business or organization will achieve success in the initiatives and complete the goals of each project with success.
As you lead be open to critique, allowing other to show you if there are better routes to achieving the goal. This two way open communication provides your team with a feeling of value and respect. If your team feels that their input on the project is taken into careful consideration they are going to feel more invested in the project and the future of the company.
The better the work environment the more efficient, effective, and profitable these changes will be. At the end of the day isn’t that the ultimate goal of business?