Innovate or Vacate

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Innovate or Vacate by Kachelle Kelly

“If you want something new, you have to stop doing something old”
― Peter F. Drucker

Innovation is critical to the success of the modern day business. New ideas and implementing new business strategies keeps you on the cutting edge of your industry. Imagine having a business that still uses a typewriter to create business correspondence and an adding machine to do calculations. If you’re still stuck in the early 1980’s your business needs a major overhaul.

Sometimes we get trapped as business owners in the last century because we can’t afford to modernize our company. When we sat down and developed that 200 page business plan, we forgot to allocate funding for business expansion and updating technology. If you are going to have a competitive edge in your industry, you can’t afford to take a trip back in time. Because when you do come back to the 21st century, you may have a “Vacate the Premises” sign on the front door of your business.

Failure to be innovative in your professional growth can also stagnate a business. Especially if you provide a service. When you have courted a client and they fall in love with the “how” and “what” you deliver, you have created a relationship. Just like in personal relationships there are some expectations from each party involved, there are also expectations in a business relationship. In order for them to become a loyal customer, you must give excellent customer service, be willing to quickly solve any problems that arise and stay abreast of what’s going on in your industry so that they don’t have to do so. They rely on your service to be current and relevant for the age we live in.

How do you do that on a shoestring budget? There are numerous FREE or economically priced resources out there to assist you in doing almost any and everything. They are often just a “GOOGLE” away. If your funds are limited, do your homework and choose one professional association or organization to join in your industry and get their newsletter or emails that consistently keep you abreast of what’s new and improved in your area of expertise. Join mastermind or meet-ups that focus on your specialization. Attend webinars, lectures at local colleges, universities or workshops about new developments in your industry. It may take a little research, but the resources are out there to innovate your business.

In order to live your best life now, you’ve got to do regular maintenance on the old and be willing to use innovation as a means to keep loyal customers coming back for more. Remember in your childhood when the night before Christmas the anticipation of those new shiny toys kept you up all night waiting for Santa Claus? Well, in business you get to be a type of Santa Claus to your customers. Keep them excited about what new product or service you will provide for their customer satisfaction by introducing something new on a consistent basis or improving something that’s been around for a while, but needs a facelift. Remember, when you innovate, you won’t have to vacate (the premises). Get rid of something old and replace it with something new today! Check out my YouTube video on Reinventing Yourself here:

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