Daily Marketing Thoughts

Innovate: Be different, create something new

Innovate: Be different, create something new

There are only 2 ways of gaining profits in your business: marketing and innovation. When you create a product/service, and have it in place within your business system, you must market it to the public. Marketing is what will bring the people in to create the sales, and ultimately the profits within your business. But it doesn't stop with the marketing of your existing products and services. If you keep doing what you've always been doing, you will fail. There are always others entering the marketplace, and creating new businesses that will be looking for ways of taking away your clients. You must work for today, but plan for tomorrow.

Innovation is the process of updating what you offer, and continually bringing new things to your clients. Sometimes it's simply "new and improved" products. And sometimes it needs to be a complete overhaul of what you offer. But the main thing you need to do is to keep up with what the world has to offer.

So as you are running your day-to-day business tasks, how can you incorporate innovation into your planning? It's actually very easy! Be active in your community, and within your industry. Join networking groups and trade associations. Read and subscribe to trade journals. And read major newspapers, such as Wall Street Journal, USA Today, and the New York Times. Just by being involved with others in your industry, and with those that may have developments that can effect your industry, you can pick up valuable tips on products and services you can develop to help you in your business.

posted by Lori O @ 10:12 AM