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Main Page » Business & Services » Business Planning & Strategy
 

Getting Rich Through Innovation

 
Author: Matt Fox
 

You have planned your business to use systems to ensure quality as well as control costs and increase profits. One of the systems is an innovation program that is used daily. To make your innovation program effective you will need to quantify your results to ensure your innovations actually help the business. To quantify your results means to produce numbers that can be measured. You want to count everything in your business. From the number of customers you have daily you can break down more numbers. The number of customers in the morning, in the afternoon, in the evening, on a rainy day, a sunny day, a cloudy day, week days, week ends and so on.

Now you implement your innovation, maybe if youre a salesman you wear only blue suits and red ties for six weeks. You have continued to quantify your customers and compare the numbers from before you started your innovation to the end of the six weeks. Now you try a brown suit for six weeks. You check the results again and determine that you sell more products wearing a blue suit and a red tie. You will not be wearing brown suits to work anymore. This is innovation, quantification and implementation of the innovation.

The possibilities are endless. This process will help you develop the best systems for your business. By having systems in your business you will eliminate choice and discretion. This will be a repeatable process that will give you results that you can implement as your business grows. This gives you a unique way of doing business that is proprietary property. Simply by innovating simple things such as this you are creating value in your business. In essence, you are creating wealth.

 
 
 

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