Kensi Gounden - 7 Tips For Adopting An Innovation Mindset At Your Business

How can your business become more innovative? One of the first things you need to consider is investing in your capacity to innovate. In other words, you should invest in things that enable you to constantly improve your products and services, and how you produce them. An investment in information and communication technology is a good place to start.

Innovation can also mean, for example, improving your operational efficiency to cut costs and using that money to buy a new piece of equipment. Or you might try a new marketing idea.

According to Kensi Gounden, here are the ways to develop innovation mindset to boost your business

1> Develop an innovation strategy—With your team’s help, develop an innovation strategy detailing how you will improve your products or services, your processes, your marketing strategy, your business model and your supply chain. Then keep it up to date.

2> Tap the creativity of your employees—They have intimate knowledge of your business and industry and will often be your best source of ideas.

3> Look for ideas and feedback from suppliers, customers and other stakeholders—It could be as simple as changing a process, adapting a product to a new market or exploring new ways to reach customers.

4> Invest in capital assets—Especially those that improve your competitiveness like information and communications technology.

5> Don’t look for the magic bullet—Focus on continuous incremental improvements.

6> Educate yourself—Study innovation, change and creativity. Go to conferences and travel.

7> Take action on new ideas—Even if they fail, have faith that you’re on the path to innovation.

Kensi Gounden - 7 Tips For Adopting An Innovation Mindset At Your Business

Kensi Gounden, a professional can help you in every possible way that will yield the best possible results

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