Saturday 3 January 2015
Four Ways To Recognize An Innovative Idea
Successful people come in a variety of shapes and sizes. Have you ever taken a good look your "business heroes?" They might look like they just stepped off the runway of a modeling agency, or they might look like a windstorm dropped them in a rumpled and mismatched heap.
Appearances and personalities don't define the perfectly successful businessman, but there are a few things they all have in common. One of the most out standing characteristics that I've noticed is innovation.
Appearances and personalities don't define the perfectly successful businessman, but there are a few things they all have in common. One of the most out standing characteristics that I've noticed is innovation.
I believe that people with innovation have the ability to come up with a brand new idea, develop it, and make it sell... and the guts and tenacity to actually make it happen.
Unfortunately there's no magic wand that will give you instant innovative skills and it's tough to actually "make it happen" but real innovation truly does stand out in today's market place. The trick to being successful with it is to develop your idea with painstaking care and diligence.
Here are four ways to recognize an innovative idea!
1. Recognize Market Needs and Opportunities
How many gaps in the market have gone unfilled for generations? At first you might scratch your head and say, "No way, everything that can be marketed has been." The best place to start is with you. Take a look at things that you wish you could change. Brainstorm different ways to meet those needs and ways to market them to others.
2. Capture Potential Value
You might be surprised at what putting a brand new spin on a "ho-hum" product can do. A few examples are: artists using saw blades to create rustic paintings, or even the Vietnamese using thrown away rubber tires to create sandals.
3. Develop New Products and Services
A sharp eye for undeveloped customer needs might put you on point for a brand new product or service that will put money in your pocket.
4. Gain Market Share from Competitors
Anything new is exciting, and Americans have to try it out. Whether it turns out to be a passing fad or a market that will make a permanent place in society, there's a buck to be made.
Developing innovation and getting your creative juices flowing will take time and energy, but the payoff could just be your pot of gold.
Here are four ways to recognize an innovative idea!
1. Recognize Market Needs and Opportunities
How many gaps in the market have gone unfilled for generations? At first you might scratch your head and say, "No way, everything that can be marketed has been." The best place to start is with you. Take a look at things that you wish you could change. Brainstorm different ways to meet those needs and ways to market them to others.
2. Capture Potential Value
You might be surprised at what putting a brand new spin on a "ho-hum" product can do. A few examples are: artists using saw blades to create rustic paintings, or even the Vietnamese using thrown away rubber tires to create sandals.
3. Develop New Products and Services
A sharp eye for undeveloped customer needs might put you on point for a brand new product or service that will put money in your pocket.
4. Gain Market Share from Competitors
Anything new is exciting, and Americans have to try it out. Whether it turns out to be a passing fad or a market that will make a permanent place in society, there's a buck to be made.
Developing innovation and getting your creative juices flowing will take time and energy, but the payoff could just be your pot of gold.
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Elynn Fish is the Founder and President of The Fish Firm of which specializes in Turning New Media & Modern Marketing Into Money by helping small business owners and entrepreneurs increase sales by attracting new business and engaging current and previous customers.
Elynn Fish is the Founder and President of The Fish Firm of which specializes in Turning New Media & Modern Marketing Into Money by helping small business owners and entrepreneurs increase sales by attracting new business and engaging current and previous customers.
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