The
only purpose of a small
business is to bring in a customer; and there are really
only two ways to do it - through marketing or innovation.
New ideas are the lifeblood of any small
business so it is important to encourage creativity and
to be truly innovative. But creativity and innovation are not
the same. Creativity is all about coming up with new ideas,
whereas innovation involves putting new ideas into action.
New small
business ideas can be very difficult to find. When you do
find them and put them into action, they can provide a powerful
marketing edge and become a license to print money.
Here are 8 ways to generate new small business
ideas:
Small
Business Idea #1. Ask For Opinions
We get so close to what we are doing, that
often we can't see another way of doing things. To overcome
this problem you could hire consultants or simply seek opinions
from someone who knows absolutely nothing about your small business.
There are times when we need to step outside our own environment,
because sometimes ideas used in one trade can be adapted to
another.
For example, which came first the ball-point
pen or the roll-on deodorant? They both use the same ingenious
principle.
Small
Business Idea #2. Encourage Staff Creativity
If you employ staff, encourage them to think
up new ideas and get them to suggest changes. You will need
to be open-minded and encourage their input. You'll need to
be tolerant when their small business ideas don't work. And
you'll probably need to reward them in some way, although you'll
probably find that the satisfaction of "seeing their ideas
in action" may be reward enough.
Small
Business Idea #3. Brain Storm
One of the best ways to tap into new small
business ideas is through brainstorming. This could involve
family, friends, staff, customers and even other small business
owners. The key with any brainstorming session is to disallow
any negative comments and to only analyse or develop ideas once
the session is over. The purpose of a brainstorming session
is to produce a quantity of small business ideas. It's quantity
not quality. Refining the ideas comes later.
Small
Business Idea #4. Re-educate The Mind
There is an old saying, "you never stop
learning" and it's true. If you are willing to make a personal
commitment to perpetual re-education you'll reap the rewards.
Allocate an annual budget (maybe 1% of your turnover) for personal
and staff re-education. Consider training courses, seminars,
workshops, audiotape programs etc.
Small
Business Idea #5. Become A Case Study
Consider approaching a local college or polytechnic
that runs business courses. Offer your small business as a case
study in return for feedback and small business ideas from the
students.
Small
Business Idea #6. Become A Surfer
There is a wealth of information on the Internet
and much of it is free. Search other areas of business rather
than just your own as you might be able to adapt a totally unrelated
idea.
Small Business
Idea #7. Read And Subscribe
You can often find small business ideas in
the most unlikely places. Business, fashion and trade magazines
are all worth a browse. These days it's easy to subscribe to
any number of overseas publications, membership websites or
ezines.
Small
Business Idea #8. Travel Opens Your Eyes
Visit similar (or even unrelated) businesses
overseas. You'll be surprised at how freely many of them share
their knowledge; after all you are not a threat to them. In
my travels I have made it a point to visit factories that make
the strangest things, huge shopping malls, numerous small businesses
and international marketing companies. It must work, because
each time I seem to come home buzzing with new small business
ideas.
The best-selling small business ebook "Sell
Your Business The Easy Way" is packed with helpful
ideas for increasing small business profits.
© Market Leaders ebooks. All Rights Reserved.
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