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​What is innovation and why is it so important?

12th October 2014 -

As a business owner, if you’re not aiming to grow your business, then you’re one step closer to becoming stagnant, and known to be an irrelevant, barely surviving firm – after all, how many people are going to enthusiastically recommend a company that hasn’t put forward any new ideas or products? They’re not – instead, they’re going to be talking about the next Apple of the industry – constantly innovating and bringing out new ideas to satisfy needs that their customers didn’t even know they had.

There’s nothing wrong with wanting to remain a small business – it’s not everyone’s dream to dominate a corporate empire, but all companies that want to last have got to realise the importance of reinventing, refreshing and innovating in a world that is always changing.

Innovation has got a bad name for itself in some people’s minds as a fluffy word with no substance – an academic buzzword for multinational corporations. But innovation can be so much more than a vague concept. In today’s tough economy, businesses need to stop thinking that innovation is about reinventing the wheel, or that it has to be about doing something better or cheaper. Sure they can be nice side effects of successful innovation, but at its core, innovation is simply about doing something different.

Here at Isis Business Brokers, we recognise the need for innovation in all types of businesses, and our experienced consultants are experts in helping you flesh out new concepts into working strategies and methods. Simply having a vague idea for a new product or service won’t get your customer base excited, but being able to launch that idea into reality is priceless.

Despite all of this however, simply churning out new products or services won’t necessarily get you the results you desire. If your new creation has flaws which stop it from working as intended, you can quickly damage your company’s reputation – being transformed from a firm known for its cost effective and usable offerings to a firm who just look like they want to make as much money as possible with no regard for the end user.

To find out more about how Isis Business Brokers can help you and your firm innovate, call us on 01865 784462 for a free initial consultation.