Thoughts and ideas for small business development and growth
Stimulating creative thinking in a small business is not the most common thing to do. Most entrepreneurs generally have most of the ideas…or do they??? Once a business has grown to a certain size, not all the answers or great innovation will come from the founder. Quite often us small business owners think we are the fountain of all knowledge.
Challenging the people that work in our business is one of our fundamental roles but how many times a day, week, year do we go out of our way to do it. Creating an environment where our people feel they can spark their imagination and then develop their ideas is crucial to future success. Here’s a few ideas off the top of my head….
1. Recruit people who make you feel uncomfortable, people who will challenge you and your customers
2. Always, always recruit happy people and those that have the right attitude. Technical skill can be learned
3. Set some of your people a task of finding new uses for old ideas
4. Give your newest recruit the oldest problem your business has, then give them the time and resources to solve it. Believe me they will
5. Create a culture that rewards success and failure but doesn’t accept inaction
Don’t forget, great ideas come from the creation of dumb, stupid and impractical ones too!
We are exposed to an average of 3500 brands a day. Brand orientated businesses are twice as likely to succeed. 80% of businesses with a strong brand focus have operating profits almost twice as high as the sector average. We’re shifting from profit generation to value creation for all stakeholders and we’re now operating in a world that’s no longer based on the manufacture and trading of tangible products but the creation and delivery of intangible services.
Some of the worlds strongest brands today were not even a twinkle in their creators eyes twelve years ago; ipod, eBay, Google, Innocent Drinks, Big Brother, Harry Potter. We are entering a new culture of mobile usage, organic, downloadable entertainment, male grooming and social networks.
It means instead of messaging people how good we are, we need to involve them. Instead of promising we need to deliver, interactive replaces passive, look and feel is history, it’s actually about experience. And finally, instead of having an audience as customers you have a community of customers!
What on earth is going on? Your most significant question at the moment; is your business strategy designed for a static world or for a changing one? And is it changing in a fundamental way?
Somehow we need to get a grip and work out how to make the intangibles tangible!
A little exercise……Sit down with two or three colleagues (preferably motivated ones) and launch informally into a discussion around:
WHO ARE WE?
WHAT DO WE STAND FOR?
HOW DO WE STAND OUT FROM OUR COMPETITORS?
WHAT EXPERIENCE DO WE WANT OUR CUSTOMERS TO HAVE?
Honest answers only please! With those same two or three colleagues map out what a great (the business your’e in) would look like? What should it feel like when customers engage with you? Make a list of what you need to do, then go ask some of your clients the same thing…….