The present competitive business environment demands ideas on part of business and individuals. However, it’s a well-known fact that great ideas never come easy.
In fact, according to research, most of the great innovations around the world were actually ‘happy accidents’. A lot of times, employees came up with new ideas while thinking about their personal initiatives rather than following a brainstorming session for the idea management system.
There is a process for everything, but the process of innovation cannot be confined to one single strategy or formula. Undoubtedly, the process of innovation is similar to the mating pandas: haphazard, clumsy, and sometimes ineffective.
Yet, while analyzing the innovative idea creation strategies of many vanguard companies, it became evident that ideas and real breakthroughs aren’t necessarily commanded from the business leaders. In fact, certain methods can be used to increase the number of proposed ideas.
7 Innovative Strategies to Generate Business Ideas
There are many innovative strategies used by organization leaders to keep the spark of creativity ignited:
1. Keeping The Famous ‘Pain Point’ Journal
Great entrepreneurs focus on solving problems. They identify what’s really bugging the customers. What wishes are still not granted. For example, Google identifies the wish to search for different online sources on a ‘specific topic’ in the fastest possible time.
Review the journal yourself and take other’s viewpoint on it to see if it’s a genuine issue you can solve.
2. Involve the Product Supplier
Suppliers are mostly ignored, yet they have a better knowledge of the product and the industry. To involve them, you can propose a problem that you think they can solve and see how it turns out.
A chief purchaser of leading in-demand consumer products demanded an adhesive for different skin types. The outcome was amazing because the supplier really spent months to come up with a product for it.
3. Follow the Trends
If you are a social media fanatic, you must be aware of the trending products and services, the innovations, customer reviews, the problems they face with the new products, etc. Not only would it be easier for your company to resell the slightly improvised products that are in line with a new trend, but this might enable you to predict the upcoming trends as well.
4. Generate Ideas on Everything
We generate ideas for an important thing while brainstorming ideas for an unimportant one. So, to keep your brain trained, follow a practice of creating 10 ideas on any random singular topic. For example, 10 ideas to capture an outstanding photograph, 10 ideas to organize faster, etc.
To train your employees for design thinking, ideation and so on, you can opt for innovation training. Through the process, team leaders are also trained to think differently through brainstorming, design thinking, and other innovative strategies.
5. Network with Business Professionals
For entrepreneurs, it’s important to network after conferences and other business meetings with business professionals. You might end up getting a better perspective on customer’s needs and also great advice from influencers and top market professionals.
Network with innovation consulting services leaders to learn new strategies and generate new ideas.
6. Involve Customers in the Innovation Process
Most of the innovative products are a result of customer’s ideas rather than the R&D department. Therefore, keep your customers involved through feedback and suggestions. You can target the most difficult customers to handle as your main target for innovation. They can definitely have a different perspective on your products and services; satisfying them can pave way for you to gain more customers.
7. Analyze Old Products and Ideas
Never think of an idea as a fail. Keep them registered for generating future ideas. Moreover, by analyzing the old products, you can figure out the loopholes in them. Customer feedback is one great way to find out the missing pieces. The lacking can be removed in the new product.
Use the products on your own and figure out what’s not working out. Think you can create an improvised product, an all-in-one product, or a totally unique product.
Many business leaders are investing in innovation consulting services to revolutionize the thought-process of their employees and managers. Moreover, such consultations help them gain an outsider’s perspective on every aspect of their company to innovate and improvise. Wish to find out more about innovation consulting services and what it can do for your business? Feel free to get in touch with our professional staff for more help.