4 Key Words: Innovation
In this series, we are looking at the key words that define a successful sustainable business. The first word is Innovation. This is defined as: Something new or different product or method introduced. Innovation does not always require you to be a techno-boff and discover a new formula or algorithm. It could be you doing an everyday thing in a new way.
But how do we identify where to be innovative? Simple: Look at the pain and anger in the world, then create a solution for the people who live in that cycle of ever increasing pain. Solving everyday problems requires that you look at the solutions before you look at the problem. This is innovation, dare to be different, start your day with a clean page and begin to design and map out your next product. Do not be hemmed in by the restriction of current beliefs or technology, stretch your mind, body and soul until you have found innovation. Then share it with the rest of the world. Once again, it does not need to be a space station or solve world hunger; even the smallest things can be innovative. Paper clips, buttonhole repair kits, chewing gum disposer, coin sorter. All these are small yet great to have on hand each day to remove the pain in our lives.
Ambassador for Spice4Life
Bruce Wade has been appointed Ambassador for the Spice4Life brand: this as part of the roll out of the new relationship between Spice4Life, World Academy and Entrepreneur Incubator and Academy. Through this new venture we aim to rehash the way online courses and e-learning programmes are delivered to the end user to South Africa and up through the African Continent.
We will be instrumental in creating content for the World Academy platform using video, animation and e-books in partnership with some of the brightest innovative minds we can find. We are also looking for people with a story to tell, that inspires and supports our vision.
If you would like to contribute to this in any way, please do not hesitate to contact us for a chat.
4 words to boost your business
I am often asked to define success in a business. This is always an open ended question and will always point to the person doing the asking as looking for affirmation of what they are doing at the time. There are a number of issues that will make a business successful and when it does take off, it will sometimes take you by surprise and have very little to do with your current effort and investment. So what, if we reduced success to principles, can we conclude will make a business grow and become sustainable?
I have 4 words, well actually 5 but the last is the collective of the first 4, which we will explore next week. You will do well to take notes, copy these and implement them in your business. For if you just read this, and click on to the next blog, you may just miss out on what could be your future waiting to happen just around the next corner.
So bookmark this and come back tomorrow as we look at the first of the 4 words: Innovation.
Is your business in need of some rescue?
I am an old yachtie person. Ever since I was 3 years old, I have been playing on boats of some kind. From sailing on lakes and dams to ocean racing and regattas around the world. With a huge amount of success, failure has also come many times. I have been stranded on mud banks and reefs, caught in storms, lost masts, capsized and almost sunk twice. The services of the NSRI have saved me and my fellow crew members on a number of occasions. That is why, to this day, I will always support them through fund raising and donations. You just never know when you may need them again.
Similar to yachts, all businesses at one time or another need some form of rescue. It may just be a short tow off the reef of short cash flow or a full scale rescue from sinking into oblivion. Where is your business today?
We are putting together a one day Business Rescue workshop that will put you and your business through a number of strategic assessments to help diagnose where it needs some attention to avoid failure and potential disaster. We assess all aspects of the business from staffing, job descriptions, accountability to processes, product alignment, customer services and of course finances.
Question: What aspect of business do you think causes failure above all else? We would love to hear from you.
Never Lose Balance
Riding a scooter in traffic and the wind is a challenge that very few get right. Mastering the skill of riding between cars, trucks and taxis whilst being blasted by our southeaster wind takes time, practice and skill to perfect.
So what has this got to do with Entrepreneurship? Balance is key to being a successful business owner. Finding time to work in, on and out of the business requires good planning and often an accountability partner. All this whilst being blasted by customer agendas, business maintenance, staff issues and compliance chaos often resulting in us getting off track and losing balance.
Here are some tips that I have learnt from the scooter that can be applied in business.
Never come to a gradual stop and coast up to a destination. In business drive as hard as you can to get to the point you need. Once there stop, access and move on to the next agenda. Slowing down will find you losing focus and balance.
When stopped, plan for the next move. At a stop on the bike it is essential to line up toward the next destination, looking ahead for any obstacles and define your path to avoid obstacles. Taking time to plan your next business move is critical. Look ahead and plan for any known issues or obstacles that may be in your way. Having a contingency plan B or C and maybe D is just good project management. Make sure you and your team are all pointed in the right direction before you set off.
Balance on a windy day in Cape Town traffic is hard work as you are blown from lane to lane between trucks and buildings. In our business opportunities and issues arrive on a regular cycle. All these need to be assessed and decisions made as to take action or go with the flow. Experience will teach you when to lean into an issue to avoid being blow off course and when to go with the flow that will change lanes to better business opportunities.
Think bike, think business.