Ways small businesses can innovate

In today’s ruthless and fast paced market, it can be incredibly hard for small businesses to establish dominance without innovating and pushing the boundaries. Once upon a time, a business could stay afloat by simply being the only available option in a given area – today, franchises reign supreme and the little guys are forever squeezed out in favour of corporate monopoly. Still, that’s not to say there’s no room for fresh blood and if anything, originality and innovation are now the most important keys to success.

Here are three ways small businesses can currently get one up on the corporate bigwigs:

  • Diversity

Large scale businesses often recruit from the same pool; or have become so formulaic in their practice that employees have no room to apply their skills beyond their designated task. In a small business, everyone needs to chip in together meaning a diverse workforce drawn from varying backgrounds can work wonders. Say you need some content written or suddenly require an outstanding artist? Employ people with diverse backgrounds, hobbies and interests and you’ll be able to take advantage of your limited work force in a way that’ll benefit all.

  • Measure and Encourage

If you’ve ever worked in retail or a call centre, you’ll understand the importance of ‘sticking to the script’. This is the antithesis of innovative thinking and completely stifles an individual’s ability to benefit their employer in new and interesting ways. Thankfully a small business can branch away from this practice and thrive through encouraging new and creative ideas. How can a business possibly evolve without straying from an already pre-ordained path? Well, chances are they can’t which is why it’s so important to measure and reward employee innovation.

  • Speedy Efficiency

Another benefit of being a small business is the breezy nature at which new ideas can be put into practice. A huge establishment will likely have different departments dedicated to every notion of business meaning any new changes or ideas will take ages to process. Instead of having to run your new ideas by a ton of department leaders, you’ll only need to get a single office on your side. In addition, a large scale business is more likely to squash innovation over fears of costs, resources and time needed to put it into action.

If you would like to find out more about how Gradwell can help small businesses flourish you can watch our 30 second ad by clicking the link below

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2016-01-22T14:45:58+00:00

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