Innovation is what separates the great entrepreneurs from the average ones. If you are able to use innovation and embrace change, it can help your company to grow, find greater success, and stay ahead of the competition. Innovation is also challenging because it can be hard to find ways to make positive changes to your brand, and it will also always be a risk. It is often worth taking these risks, however, as they can take the company forward or be used as a valuable learning experience. Here are a few innovative ideas that every entrepreneur should be implementing into their business plans for the year ahead.
1. Remote Working
Remote working is on the rise, and it is easy to see why; it is greatly beneficial for all parties. From the employee’s point of view, remote working can reduce stress, provide a greater work/life balance, and improve morale. For employers, remote working can increase productivity and reduce business costs.
2. Add To Product Range
It can be hard to grow and succeed simply by selling the same products, which is why a great innovative idea is to add to your range. Think about who your target audience is and what their needs are or common problems that they may face and then design a product to satisfy these needs. Doing this can help you to both attract new customers and retain existing ones.
3. Support A Cause
Today’s consumer is increasingly aware of important issues, and this has become an essential part of the decision process when choosing a brand. If you are able to support a cause and show that you are a brand that cares, then it can improve your reputation and make you more appealing to today’s consumer. Innovative ideas could include going green, donating to charity, holding fundraising events, only using ethically sourced products, and more.
4. Implement Portal Solutions
Implementing an SAP-certified product suite from specialists, such as weaveability.com, can streamline the entire business process and improve the service provided to your customers. This innovative end to end service can drive the digital transformation of your business and increase and improve your business communications.
5.Artificial Intelligence
AI has steadily been improving over the last few years, and it is now starting to be used in the business world in various ways. Embracing AI is a smart idea for the year ahead because it will see your company use cutting edge technology to make improvements in multiple areas. This includes using AI to analyze large sets of data, automating multiple business tasks, and improving customer service. The technology will continue to grow and be implemented in other areas of business, so it is a good idea to keep a close eye on this technology too.
Innovation is crucial to growth in the world of business, and it is how a company can stay ahead of the competition. It can be hard to know how to innovate, and there will always be an element of risk attached, but the above are a few of the best innovations to consider in 2019 which should drive your company forward.