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“Innovation distinguishes between a leader and a follower.” – Steve Jobs
Innovation is extremely important as it is one of the primary ways to differentiate your product or service. Innovation is not just about designing a new product or service, but can also focus on improving efficiencies, finding new customers, and/or cutting down on waste to increase profits.
So here are 3 ways that you can accelerate innovation without breaking the bank.
1. Innovate Through People – I can not stress the importance of relationships. You want to create an environment where you make a concerted effort to teach and encourage people to unleash the power of their imaginations. By definition, anything that was invented by a human being can be reinvented. So encourage the people around you to be innovators.
2. Innovate Through Systems – Having strong systems in place is key to fostering innovation. Not only does this free you up to think freely, it also frees up your employees. If great systems are in place you are able to cut down the time it would take to do administrative or redundant tasks, which leaves more time for creativity to flow.
3. Being Agile in the Development Process – This is what I like to call iteration. Knowing that your first product does not have to be perfect is instrumental to staying out in front of the pack. No successful company, product, or service is what it was when it first started. Be flexible in your approach and be willing to iterate.
Continue to foster innovation, as it can mean ascending to new heights or closing the doors on your business.
As Always Be Inspiring & Stay Inspired!
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