Latest Posts

Make Your Website a Part of Your Customer’s Lives

All businesses need to do their best to develop some sort of competitive edge. This is definitely true online, where competition is increasing year after year. The early days of the web back in the 1990s are long gone, and companies who don’t develop innovative business ideas are going to have trouble succeeding long-term. If you simply do the same old thing as everyone else, how can you expect your business to thrive?

One concept you should strongly consider if you’re building a new website is to try to make your business a part of your customers’ lives. What exactly do we mean by this? Well, so many websites online are built for short-term profits and no long-term strategy for repeat business. Many marketers build tiny websites to take advantage of temporary loopholes in the search engines in order to make money with affiliate marketing or other forms of advertising. There’s nothing wrong with creating small niche websites, and some marketers have built a very lucrative business with this model.

We strongly recommend, however, that you consider innovative business ideas so you can develop a long-term strategy for online success instead of just having temporary successes. Instead of developing a website with low-quality content just to make a few bucks, why not create a high quality website with interesting and helpful information that your readers will love? Create the kind of content (including articles, videos, and other forms of content) that people will want to tell their friends about. Create the kind of content that you would gladly share with your own friends and family if they needed help on that particular topic.

These innovative business ideas will help you develop better search engine rankings because people will want to link to your content naturally. More importantly, however, you can build a long-term community with dedicated readers who go back to your blog or website on a regular basis and read your content, purchase your products, and click on your advertisements or affiliate offers. These are visitors who will keep coming back to your website no matter what Google and the other search engines are doing at any given time!

How exactly do you make your website a part of people’s lives? Well, we’ve already mentioned one of the ways, which is to create great content so your readers will continue to come back to your website after signing up for your e-mail lists or RSS feeds.

In addition to writing great articles and possibly creating other forms of content, you should try to make your website more interactive if at all possible. There are blogs who make a killing with advertisements, for example, because they allow the visitors to submit photos of their pets or to upload homemade videos. There are also interactive websites that allow visitors to vote on your content so they can feel a part of the community and make a contribution. You can also allow blog commenting, forum posting, and other methods to allow users to contribute and feel like a part of the website.

The Role of Key Account Management in Innovative Business Plans

One of the biggest challenges that the companies have to deal with is to come up with the most effective and innovative business plans. The success of most of the businesses is dependent on their ability to implement these plans not only in their technology but also to boost up their sales. In devising the perfect business plans, you have to keep certain things in mind, such as, is there a possibility that with these plans you can acquire the clients of rival businesses, does it suit your niche users, and can it provide you the sufficient return on investment and so and so forth. One of the most effective approaches used by businesses to meet their goals and objectives is key account management. In theory, this is the perfect way to increase your profits and boosts your customer relations. However, there are certain crucial factors that you should consider before jumping into the bandwagon of this recent phenomenon.

In simpler terms, these key accounts are referred to the most valued customers of a business. Mostly businesses take special care of these customers by allocating them additional resources. In this strategy, companies basically invest in a customer’s business that’s of a very high value, in terms of profits and revenue to the business. This whole business plan is based on a simple understanding that if the business of client’s company experiences growth, the investing company’s money will also grow, as a consequence. This strategy can be very effective and powerful in the innovative business plans of any company.

So the most important thing here is to select the right customers for investment. All the innovative business plans of the future would depend on this basic step. Regardless of the importance of this step, most of the companies show a casual attitude while selecting the right customers for making the investment. First of all, they select all their big clients. There is nothing wrong in the strategy; however, they often fail to inform their customers about it. They fail to see that if the customers would be aware of their special status, they would be more loyal to the business and contribute in a much better way towards it.

The next decisive criterion that the organizations should consider in their strategy is the size of special customer accounts. Here, the companies need to select only as many customers as they can properly handle. This simple step goes in a long way in the success of any business, because efficient management is truly essential in handling these accounts otherwise it defeats the mere purpose of key account management in your business plans. Although, the responsibility of selecting the potential clients should be on the senior management, the selected customers’ list should also be sent to the lower level employees who know the customers directly. Sometimes they can provide invaluable suggestions about the customers. After finalizing the most promising clients, you have to devise the strategies that could help their business plans and also provides your business a high return on investment.

6 Innovative Business Ideas That Enjoyed Tremendous Success

Innovative business ideas are risky because you’ll never know if they’ll be a hit or not. Even if you’re the only one in your place that offers such, you can’t be sure if it will be appreciated and patronized by your target customers. Once an idea hit you, it won’t take so much time or knowledge to find out if it’s feasible or not, you just have to measure your resources, knowledge, budget, and gusto to know if you can start it up and sustain it. As much as you are enthusiastic enough to start your business, you should prepare yourself and your pocket for the possible outcome and oncoming needs of your innovative business.

Here are some of the innovative business ideas that really make it big in the market:

Levi Strauss
These denim pants are originally sold to miners when the Gold Rush was in full swing. Since these pants are really strong enough to last, items were always in short supply back then. No one ever thought that these pants will be in demand even outside the mining community.

While this isn’t the first social media site to offer online sharing, Facebook is able to provide user-friendly interface and other innovations including tagging, newsfeed, and a lot of several interesting games. It also offers an exceptional platform for generating ad revenue. Mark Zuckerberg’s global success is a proof that these days, being first is no longer a competitive edge, it just takes great innovations that will bring lasting impact.

Developers of this site only intend to create a small avenue for online buy-and-sell business. Who would have thought that it will be one of the most popular and commonly used auction sites in the world?

Online maps
Inventors of Google maps and MapQuest saw the vast need for directions, which is also the reason for the high sales of GPS apps and devices. They took advantage of such needs to develop something that can be of great help to drivers of cabs and old-model vehicles with no GPS, dog walkers, and other people who need to traverse a place that isn’t familiar to them.

Budget airlines
This is one of the successful innovative business ideas that didn’t rely on the Internet’s popularity. While most of the promotions are done online, the success of this idea wasn’t left in the mercy of the Internet; it rather gives the airline industry a new lease of life, which becomes truly helpful during the global economic downfall.

Combo/budget meals
These are dishes paired with drinks and other upsize options. This business idea creates a mindset that the consumer gets a better deal than paying for every food item individually.

Each of the companies who tried out these innovative business ideas also has unique experiences. Just because an idea works for one businessman doesn’t mean that it will work for you, too. So plan carefully and assess yourself; make sure you’re ready for the possible pitfalls of the idea you have in mind.

The Key Features of Innovative Business Teams

Innovative business consists of innovative business teams, teams working with the maximum degree of efficiency.

What is the key characteristic of the innovative business team? Are there many? In fact, there is only one: the team’s ability to succeed in spite of difficulties.

Agree with me, there is truth to it, to achieve success, in spite of the difficulties that you are facing or will face.
What makes this possible?

You can name a number of ways and reasons for success, but individually they will be less effective than all together. It is building a system of many ways of achieving success is the way to success. Let’s look at a system which despite its complexity, functions because of simple rules.

The system of traffic: traffic rules, traffic signals, road markings, traffic participants knowledge aspects of the organization and safety.

What are the key criteria for such system?

1. Rules are described in a single document.
2. Rules have been described in a simple and understandable language, and it practically eliminates ambiguity of interpretation.
3. All participants in the system have been trained.
4. Participants in the system operate within a single environment, adhering to the rules.
5. Has a function of training and monitoring compliance.

Therefore, to create an innovative business team, you need to develop effective performance standard. Under this standard, we are working on all aspects of the team from attracting new employees to achieving results.

Tasks are:

• To attract the best employees (think about what you mean by the best for your business.)
• Ensure that all work with maximum efficiency.
• Create an environment of growth and development of staff.
• Create an environment of trust and loyalty.

Team – a nonstop actions in different situations. Describe how you act in a given situation by filling out a simple table of two columns: Description of a situation, your actions. The table can be extended up to five columns:

  1. Description of the situation,
  2. Your actions,
  3. Anticipated results
  4. The necessary resources,
  5. Responsibilities.

One can say that the team is a system of business processes, but let’s say that a team is a set of actions of team members.

What is the difference?

When we say that the team is a system of business processes, we understand that business processes are the tasks of the business, they have no soul. Team’s actions, go from the team’s task, it is inherent factor of the corporate spirit.

Characteristic features of an effective leader are to lead and manage people, to rally the people. Organize a team – it does not mean to create a fun group. Team – a group of people who want to achieve a common result.

The main problem of many teams, that have not achieved the desired result, is the lack of a document that regulates the actions of team members. In different systems, it has a different name: the statute, code, rules, and regulations. No matter how you call it, it is important to understand why you created it and how you will be using it.

The most important prerequisite for the creation of such a document – to establish clear rules to be followed by all members of the team in various situations. Otherwise, in the absence of rules, your employees will come up with their own rules. Such an initiative, will display your team’s balance: sometimes you will celebrate success, but for the most part you will not be moving to the target.

The standards are the basis for the assessment of any team. Either everyone in your team works on the principle of “every man for himself”, relies on intuition. Or follow a prescribed set of rules and standards. Of course, in emergency situations, we have to rely on instincts, but such situations are not predictable.

Regulations and standards are needed:

  • In order to effectively achieve your goals.
  • To determine the optimal actions in a situation of crisis and stress.

What happens if you act without clear set of rules, in a given situation? You make decisions, either on emotion or based on your previous experience, in any case, you’ll get a completely different result than you could with set of rules.

Regulations and standards is not a comfort zone for your employees, it is an area of effectively using teams resources in various situations.

Where to begin the creation of standards in innovative business teams:

  1. Make an organizational chart of your team.
  2. Identify the strengths of the team members.
  3. Determine what benefits will bring the developed standards. What problems they can solve?
  4. Answer for what you are developing standards: to ensure that everyone is comfortable working with each other, or for you to achieve maximum results.
  5. Create a team profile, which consists of the following components:
    • The aim of the mission
    • the needs of the team
    • the needs of each participant

Each team member needs to understand his strengths and strengths of his colleagues. Your team needs to understand how much power it has to achieve the goal. It is a system of motivation. It is a system of motivation. This approach provides a competitive advantage and allows us to achieve results

Agree, on the one hand nothing is complicated. Everything is simple. Remember a children’s game, where everyone using their strengths is striving for maximum impact. But especially the simple approaches we cannot implement in the business, because we have to maximally complicate our processes due to multiple, often imposed upon us by factors.

One of the common mistakes. Identifying the strengths, at the same time we will define weaknesses in an effort to eliminate them. Do not do it! Eliminating weaknesses in the team members is waste of time, a deviation from the designated target. Work with the opportunities, that you have enough!

How to Create a New Innovative Business Idea

If you have ever made a mistake in your business that you ended up regretting later on, this article will assist you in coming up with new innovative business ideas. At times, you might have felt that you could have made better decisions if you had extra time. Regardless of what the type of wrong decisions you made in the past, you must have seen the negative consequences in the business. It is high time that you stopped regretting because what is done is done and you cannot rectify the wrong decision.

However, you can rectify the negative outcome by following the tips that you will find from this article. For any decision that you have to make or the idea that you have to come up with, you should take time for critical thinking. Critical thinking should not be an overnight thing rather it should be a process. When you follow the process continuously and over a long period, critical thinking becomes easier. Here are some tips that will help you on fostering innovation:

You require disserting and analyzing all the assumptions that you make in the period that you will be making appraisals. This first phase is vital for assumptions because you will be making the right decisions for your small business, franchise business or a new business. During the process of appraisal, it is the appropriate time that you can either accept or reject any new idea that you might have gathered. Just in case colleagues accept your new innovative business idea, you automatically qualify to proceed on the second step-, which is exploration period.

In order to be sensible, you should incorporate logic. This is the stage whereby you will ask any question regarding how the problem arose. You can ask the employees whether they knew everything at hand. What are the situations that led to the outcome of the crisis? After gathering such important knowledge, the next step would be starting exploring alternatives. Well, you might find that such a phase is uncomfortable to deal with because now you already experienced the negative impacts that a wrong decision can cause. In order to get new opportunities for expending the business, you must decide on pressing forward the alternatives and explore them.

When you have new opportunities for business growth, then you are ready to move on to the next step, which is integration period. The last phase is deciding as well as incorporating all the great alternatives. In addition, you can combine all the mechanisms that can help you in avoiding the effects that negative decisions might have in your business. Starting up a new business is a great and profitable idea that requires you to come up with fostering innovation.

Critical thinking has the greatest value in your business and it is not worth ignoring. If you are ignorant in critical thinking, you will not escape having frequent headaches. However, when you adapt to critical thinking, you will have smooth running of business and prevent you from having headaches and stress. Valuing critical thinking is not only great for enhancing business but also coming up with new innovative business ideas for a long time.

Innovative Business Names

For a business that aims at gaining exposure through developing its own product/s, securing its identity becomes paramount. If you use an innovative name for your business, this would result in appropriate slogans, thereby increasing the chances of reaching a wider audience. An innovative business name would also require a logo, and this would give your business a corporate touch.

Coming up with a suitable business name can often be both, time consuming as well as expensive. In situations where an innovative business name is not agreed upon, considerable time can be spent in taking out the delays and hassles from the whole picture.

Luckily, there are companies that come with the reputation of being great providers of service when it comes to looking for innovative business names online. In helping you come up with an innovative name for your business, these companies would thoroughly analyze your business/brand before offering you any suggestions. Aspects like positioning and strategy are also addressed, as these would decide what kind of target audience would react to a particular type of business and its products/services.

Having a suitable advertising camping in place along with a good business slogan is also something that can help your business succeed. In the absence of an innovative business name, coming up with a suitable slogan can become quite a challenge, and this would only mean that the business cannot find its place amidst all the existent competition in the field in question.

In coming up with an innovative name, a business should ideally have a competent creative team in place to take care of this aspect. This team should be available for collaboration so that it can come with ideas that can help the business make its own mark despite all the competition. The creative team should also be accountable when it comes to coming up with concepts within a given time frame. Coming up with an innovative name for your business which relates to the products/services that it is offering, will then help the products/services sell on their own

Innovative Business Concepts for Entrepreneurs and Organizations

The rapid expansion of the Internet and its growing adoption rate has allowed innovative business concepts and ideas to be developed at a pace never before seen. With millions of entrepreneurs and established businesses utilizing innovative business ideas to not only bolster their existing programs and processes to create entirely new modes of operation, we will continue to see unique and inspiring developments in these areas. The convenience that the Internet provides has allowed more home-based businesses to thrive as people now have the opportunity to develop their concepts and innovative ideas from home. In addition to this, there have been numerous investment opportunities that have now become commonplace as individuals have found considerable success and profit by following these ventures.

When looking for innovative business ideas that require minimal investment for entry, or if you have been presented with an opportunity that looks overly favorable, it’s important that you stick to solid business fundamental analysis that will prevent you from being carried away by the hype of the situation. When following an innovative business concept it is important to take the time necessary to research, and evaluate the feasibility of that opportunity and how it pertains to the present marketplace. Often times entrepreneurs get over excited at the prospect of unlimited profit potential however, these innovative business ideas may only appear that way on paper. It is important to do as much research and due diligence as possible when trying out business concepts and strategies. Some strategies may turn out to be unfavorable for your particular environment.

An innovation strategy example can be found in the story of Sam Walton. Sam was the founder of Wal-Mart, which is now the largest retail chain on the planet. He continuously searched for innovative business ideas and adopted them as he developed his product delivery and supply chain operations. His innovative strategy led to not only one of the largest databases in existence but a supply chain strategy that has proven to be one of the most intricate and hugely successful strategies ever devised. With business concepts it’s more than just testing out random ideas. All successful and innovative business ideas are simple however not all simple ideas turn out to be a success. Today it is important for businesses and entrepreneurs alike to continue to evolve and test out innovation strategies as they revolve around technology and social trends. The market and landscape for business continues to evolve and it is an essential part of the survivorship of a business to focus on core ideas that have developed over time. These strategies and concepts must be retooled and adjusted as needed and must not remain static. For entrepreneurs, there are numerous opportunities to engage with customers and test out innovative business ideas on a daily basis. Finding the right strategy or combination can lead to not only explosive results for your small business but also a methodology that will carry on for years to come.

The Importance of an Innovation Business Process

In order to be innovative as a business you must be open to the concept of accepting new ideas. This innovation business vision is essential to growing as a company and changing with the times. Any well-established and successful company has fostered an innovation management process among both their upper management and general workforce. It is important to remember that innovation is something in a company that needs to be promoted and also fostered. If a company curbs and limits creativity and innovation in the long run we can have a very negative effect on them changing with the times as a business. It is natural for us to want to find ways to be innovative. If we have a love for what we do at work on everyday basis the ability to innovate where we see fit is often all we ask for from a job. This is why as a leader you want to make sure you’re giving people the platform in order to do so.

Think about is a whole, if as a people we were not open to experimenting and trying something new, how would we ever overcome challenges? In a business sense this all starts with an innovation business vision and the promoting of it. So what if we try something and fail. Now we know it doesn’t work and we can get onto the next idea. At least we know now where we need to improve to improve our processes moving forward. It is this fear of failure that normally gets in the way of any successful or potential successful innovation management process. For a lot of us reaching our goals is a big part of who we are as a person. A quality innovation geared environment can always help us become motivated in achieving those goals. Think of any advancement in any industry that is happened in the past century and it was someone with a goal who attained it while working in an environment that promotes innovation.

Hopefully now you see why the innovation management process is essential for business. If you don’t by now, it basically comes down to the concept of competition. You can bet that your competition will be innovative and looking for ways to increase their market share and damage your business. Because of this we always need to be on the cutting-edge of new products or services that can help our business. Simply put, the best way this happens is through the innovation of our employees. As a manager it all starts with you and letting people know that in the name of innovation it is okay to fail from time to time as long as you are there to pick yourself back up and improve on the areas that you may have overlooked.

Part of what makes our career so exciting is the fact that we go to work every day and we generally have a love for what we are going there to do. A quality innovation business vision can go a long way in us having a long and successful career. Think about working environment where you do the same thing every day and what you think or what you imagine makes little or no difference. This is the opposite of the environment you want to foster as a management employee. You want people to work hard for you and most of all work hard for themselves as they develop the skills that will make them a well-rounded professional.

Innovation Business Vision

  • Is your business falling behind the competition?
  • Are you efforts to reach customers getting tougher?
  • Perhaps you are concerned about spending money on new technology to help your marketing effort that you are just not sure of?

These questions and more plague businessmen every day. Whether you are running a large corporation or just a small one-person online business, understanding innovation business vision and its importance to the survival of your company is vital for keeping ahead of the competition.

Innovation business vision means that you take advantage of the new technologies in production, marketing and business methods that allow you to streamline your process, take advantage of new means of reaching customers and embrace methods that improve your bottom line on a consistent basis.

Naturally, no one is perfect and mistakes will be made, but the more effort you place in following proven methods to sort out which innovation business vision you should pursue will help you minimize those mistakes and take full advantage of means that will help your business.

Here are a few basic ways to incorporate effective innovation business vision into your company and help you make the best decisions possible for the future of your company. While this advice is general in nature and can apply to most companies, it can act as your guideline to make the best decisions possible when taking advantage of new innovation business visions technologies and methods.

Research: It cannot be stated enough that effective research is the key to incorporating effective innovation business vision into your company mindset. As a business owner, it is incumbent upon you to either keep track of the latest trends and technology yourself or assign someone that task who can give you regular updates from once a week to once a month depending on the type of business you are in.

Discussion: These updates should be discussed thoroughly and their potential viewed within the realm of your business. For example, only a few years ago websites for mobile devices was seen by most as only a fad, an interesting quirk that could never take the place of a main website. But today millions of people use their mobile device to the exclusion of their laptops and desktops to surf the web. Businesses that took steps to create special mobile websites are now reaping the benefits of gaining new customers. Your discussions should weigh the potential effect vs. cost so you can best grasp the true potential of new innovation.

Action: Depending on the nature of your business, there are only two choices when embracing innovation business vision, either incorporating the new technology or methods into your business or ignoring them. Trying a half-way approach is like old adage of splitting the baby you do not get what you want but you still expended much needed capital.

Incorporating effective innovation business vision means understanding what is out there, discussing all the possibilities and then taking firm action to either embrace or ignore new innovations so that your business can be the best it can be.

Ideas in Achieving Innovative Business Plans

Innovation and invention are things which are commonly seen on computers and technologies, but as the world evolves, innovation is already used by companies to get an edge over rivals and to boost sales as well.

For centuries, businessmen did their share to attract new customers and to increase their sales by developing new and unique products and services. Small companies need innovation to compete with big and global firms. Bear in mind that innovation attracts new customers and increases sales. Due to stiff competition and pressure to get an edge over rival companies, innovation is encouraged inside the company. Positive motivation and encourage from top management stimulate the creative minds of young employees and inventors to think beyond the norms.

Creativity and innovation play a huge role in the success of companies. With business process and innovative ideas, new products are developed, core competencies are enhanced, efficiency is improved and profitability is increased. Despite the economic crisis lately, companies need to encourage innovative environment to survive. The stiff competition in the business sector makes innovative ideas more important.

To become profitable, one has to convert creative ideas to business practice. Technology, commitment and leadership are important in innovating new products and services. Remember that partnerships, joint ventures and synergism cannot close the innovation gap on their own, but it is core competencies and synergism within partnerships are the things needed for innovation to become successful. At present, selling innovative products with technology is the best method to gain competitive advantage in the global market. Regardless of the type of innovative products and services you have in mind, it should have the following criteria:

  • Cost efficient and boost sales
  • Effective in getting an edge over rival firms
  • Lets customers save lots of money

Importance of innovation to companies:

  • It improves productivity.
  • It lowers production costs, thus business enterprises become more competitive.
  • It boosts partnerships and relationships with employees, business partners, suppliers and even competitors.
  • It improves indirect competition.

Because of the numerous benefits that companies get from innovation, they constantly find new methods and techniques to promote and to advance their brands. Most often, innovative ideas come in the form of new products and services, while in other cases it means changes on how companies does business with customers, suppliers and business partners.

Lack of innovative business ideas can lead to numerous disadvantages like:

  • Companies can lose market shares to rival firms.
  • Corporate productivity and efficiency can decrease, resulting to reduced profits.
  • It can lead to employee turnover.
  • Insolvency and bankruptcy

Remember that innovation is the blood that fuels life to business enterprises. Failure to create innovative products and services is comparable to putting poison to your system. If you want to live longer to see the fruits of business success, reach out, be creative and start innovating products and services. Do your share of research to find out how best you can meet the demands and needs of customers.