Innovate - Chapter 2

Chapter 2 - 3 Tips for small-step innovation

Many entrepreneurs shy away from innovation. “They view it as something complex or revolutionary that only the big guys can take on. Or they’re so busy trying to manage day-to-day operations and customers that they say they don’t have time for it and are fine as is,” RDA’s Paul Redmond says.

However, innovation can be tackled in small steps that are easy to manage. Here are some tips:

Constantly review your processes and products to see what you can improve. Seek advice from an industry expert or an external consultant with expertise in functional areas such as human resources, operational efficiency or information and communication technology. Talk with suppliers, customers and employees to get new ideas.

Form partnerships with universities and colleges to cultivate ideas and potential employees.

Shorten your idea-to-market cycle. Quickly see whether there is market interest in your idea. Test a new product inexpensively by promoting it on eBay or YouTube. Gauge market reaction and innovate based on the feedback.