starting a business

Starting a business: Innovation in the workplace

The first few months when starting a business can be the difference between success and failure but with these innovative business ideas, you can give yourself an edge over the competition.

Foster creativity

It may seem like a no brainer, but it’s vital that when starting a business you encourage creative thinking amongst your employees. Don’t rely just on your own business savvy to drive the business forward when the collective mind is always more flexible and creative.

A great way to do this is to compile the ideas that everyone working for the business has. This will both help to build trust and respect with your employees, but also help to drive the business forward, especially in the early days when you’re sure to come across some hurdles. Always remember to be open to radical change and your business will be the better for it.

Look out of the box for inspiration

While many entrepreneurs tend to only pay attention to the market in which their business operates, a great way to find new ways to approach and grow your business is to look at other sectors for inspiration.

You may be starting a business in finance for example, but looking at the way innovative businesses in the IT industry such as Google operate may be a great way to spark ideas as to how you can improve your own business’ processes or models.

Reject complacency

Nothing is more toxic for a business than complacency! You must have an active way to avoid you or your employees becoming complacent, especially when just starting a business.

A great way to avoid this is to establish a set of core values of the business and then spend some time ensuring everyone in the business is familiar with them. In this way you can encourage people to continually push for more innovative approaches and best of all, to avoid complacency.

Adapt immediately

If you have successfully cultured a push for innovation and the sharing of ideas within your business, the next step is to ensure you implement these ideas as soon as possible.

This will keep your business at the forefront and also make your employees feel directly involved in the direction the business takes. If your employees care about the success and growth of your venture, you’ll notice they are more willing to go the extra mile every day.

Provide opportunities

Another way to encourage innovation within your business and inspire your employees to think creatively, especially during the early days when starting a business, is to provide opportunities for your employees.

If an individual feels like their ideas and contributions have a meaningful impact and that they have opportunities to grow, they’ll be sure to spend more time considering how to improve the business with innovative ideas as you as the employer have encouraged them.

While an individual has the capacity to be creative and innovative when starting a business, nothing compares to the collective and if you can encourage your employees to help work on improving the business, you’re sure to see your business grow.

Ready to choose the right business for you? You can browse businesses for sale on Reed Commercial now.

Tags: ,

Sandy Purewal

Posted on
  • Subscribe to our newsletter
    Sign up for a free newsletter and receive the latest opportunities and news to your inbox.