Five Tips to Inspire Innovation in Your Business

The Need for Innovation is More Vital than Ever

1. - Swim upstream. Is everyone in your industry doing things the same way? Maybe there's an untapped need others are missing.

For instance, one Midwestern grocery chain, Hy-Vee, recently began stocking a special checkout lane with only healthy snacks. It's a smash-hit with health-conscious moms who shop with young children, and the chain is reportedly mulling expanding the idea to 100 stores.

2. - Face your fear of change. We crave exciting new things as consumers, but as business owners we often fear having to implement new ideas. Create a culture that integrates and celebrates change to spur more innovative initiatives.

3. - Listen to customers. If you feel short of creative energy, do a focus group or take an online poll. This is a key to many of Procter & Gamble's newer products.

4. - Add unusual services. You don't have to be an inventor to be innovative just add a service that isn't traditionally offered in your industry. An example is the new Duane Reade flagship store on New York City's Wall Street, which has such amenities as a nail bar, juice bar, sushi bar, no-appointment doctor, cell-phone charging station and electronic stock-exchange ticker.

5. - Get behind your idea. Don't be like Kodak, sitting on your digital camera invention until competitors eat your lunch. Once you've got an innovative idea, put it out there and promote it with all you've got.

Source: entrepreneur

Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.

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