Is Innovation for You?

Innovation is thrown around a lot as a buzzword. Big businesses love innovation. They put it on their marketing material and tell everyone how innovative they are. Business magazines talk about innovation all the time. It all ends up sounding cliche, and I worry that you might be tuning out. Yea, you! The small business owner. You’re probably not going to write an app that kills Facebook - so you might wonder why you should even think about innovation.

Here’s why: If you want to be in business ten years from you, you need to be talking about innovation today. We’ve discussed how innovation just means introducing new value to your market; we’ve also given you a handful of examples of how you - or anyone really - can begin to innovate in your business this month.

If you’re still not sold, if you haven’t blocked off time on your schedule to work on your business, then this article is for you.

Who innovates?

Everyone who plans to survive in business through the next decade.

Take this excerpt from my book, Level Up: Gain Perspective Through Elevated Leadership:

You may not know this, but there are over 300 hours of video uploaded to YouTube every minute. This statistic represents an 18,000:1 ratio of content creation to possible consumption every sixty seconds. If you spend an average of 115 minutes a day watching online video, like most people in the United States did in 2015, then you are falling behind by 3,757 hours of content every day.
— Level Up by Tony Banta

That statistic perfectly exemplifies the pace of change in which we are all living. And I’m sure you remember a time when there was no YouTube; The term video on demand involved VHS tapes. You have, as a business owner, more options today than anyone in the recorded history of the world. You can only be successful at executing a few of them though. Your competitors, direct and anonymous, are going to work every day looking for ways to innovate the way they deliver value to your customers.

The Innovation Imperative

Tony Robbins is quoted, "If you aren’t growing, you are dying.” Similarly in business, if you aren’t changing, then you are becoming obsolete. More than that, your market needs you to change. Your customers desperately need your services or widget to solve more of their problems. For every one of your customers, there are 1,000 more people out there that you could help, if only they knew you existed and you could efficiently serve them.

If you aren’t growing, you are dying
— Tony Robins

More so than every before, business owners are being called upon to innovate and change. The reality is that only a fraction of the small businesses that are running today will survive the changes that await us in the next decade. Some of them will want to adapt but will have waited until it is too late for them to make the necessary changes.

Cue Venture Greatly

The team at Venture Greatly is to help small business owners thrive in changing times. Our consultants have traveled nationwide - but as we’ve innovated, we’ve helped clients virtually as well. We do this because we see innovation as the silver bullet that enables you to accomplish all of your business goals.

Most importantly, the clients we work with begin to develop the ability to implement new changes within their organization consistently. This is the pathway to innovation.

How Can You Get Started?

When we’re working with clients, we like to talk about innovation in 2 ways. There is “big innovation” that changes markets and culture on a grand scale. Then there is “local innovation” that creates changes within your company or community. They’re both valuable, but you always have to start locally.

If you haven’t read it already, check out last week’s blog post, 5 Ways You Can Innovate This Month. Pick one and talk to your team about it. If you’re like most of the businesses we talk to, then change is exciting to talk about but difficult to implement. That is where you might want to speak with us in a strategy session. For the right businesses, we’ll put one of our top consultants on the phone with you for 30 minutes to discuss where your business is now and the changes you’re looking to implement. When it is the right fit, we’ll offer our services to help you develop the culture of innovation within your business.