considered as an essential in any type of business. A strong model that has found its way into a company’s business plan can help align stakeholders and give angel investors insights on its long-term vision business potential. Bootstrapping business owners are also less likely to make costly decisions as there is already a framework to follow.
Extending innovation thinking in business design
When I started my restaurant a number of years ago, I was committed to doing something that would be different – forward thinking and attractive for potential customers. My challenge was that I didn’t fully look at what my customer would want or how they would want it, but rather, how I wanted the business to look, act and function. All of the ideas and thinking for the business came from me. I was the man!
However, at some point, I got tired. The ideas stopped flowing. People came to me with suggestions that I often threw by the wayside. My pride became a consuming beast; the business because an 800 pound gorilla that I was anxious to shed, despite all of the inroads we had made.
Somehow, I think that I am not the only one who has ventured down this road, be it the development of a new product or service, introduction of a new store or eStore, a fund raising event or creation of a new course. In every case, making innovation come from a single source can and will absolutely limit its ability to become all of what it could potentially come…even if it is very good.
So how do you “think different?”
Many of my clients, these days, are looking to me to help them find new ways to do what they do and to reach out to their clients. They tell me that the sales process is getting longer, they need to make various cuts and that they cannot depend on their steady cash flow to … Read more
Think about this: what would happen to your business if you shamelessly passed along information that you think would be of value to others as part of your business model? How do you think you would be seen in the community as you passed more and more info along? Do you think it would be … Read more
“Know thyself,” says Socrates. “To thine own self be true,” quotes the Bible. Do you know yourself? Do you know your business? Where your business fits into the marketplace is one of the most overwhelming yet most important evaluations you can make in your business. Are you a market leader? Are you slowly (or quickly!) losing market share? What new policies could result in costs being cut? What are some economic indicators that could wipe your business out while you’re not looking? While you may be aware of some or all of these, what methods do you have as part of your business model to evaluate them on an ongoing basis? How do you know when things change? How are you leveraging what you do well? A simple tool that many businesses and consultants use is called a SWOT analysis.
“None of us is as smart as all of us” is a comment quipped by Collin Powell, referring to the fact that if we all put our heads together and offer what we do best, we can get a lot further than we could ever do individually. Aepiphanni Business Solutions believes and supports this … Read more