Are you unsure whether innovation training is for you? To be completely honest, that’s perfectly understandable. After-all, the media and politicians are so abuzz with innovation this-and-that, that it’s possible you’re thinking it’s merely the latest fad than the answer to sustainable growth. But where there’s smoke, there’s usually fire and in the case of innovation this was never more true.
The fact of the matter is, being able to innovate is one of the most valuable skills you’ll ever possess. Here’s 8 reasons why you should join us on the DE journey…
1. Remember the millennium? Well, all those millennium babies are about to become adults and they see the world in a whole new light! In the next 5 years, these kids who don’t know what cassettes are will be one of the largest consumer markets- but they don’t do face-to-face, or use paper and pens…Businesses need to be able to capture them online, on their mobiles and wearables – are you ready to do that?
2. It is six to seven times more expensive to acquire new customers than it is to keep existing ones. If you’re not keeping up with the market, you may be at risk of losing those you do have, and having an even harder time securing new customers. One of the key parts to innovation training is about helping you to understand your consumer behaviour, which is often the best indicator of market trends and areas of opportunity.
3. When a business stops growing, we tend to focus immediately on quality, cost and delivery, but there’s a limit to how much more growth these areas will afford you. By continuously thinking about your next step forward, you’ll find yourself naturally taking the less obvious but potentially more profitable routes to growth.
4. So much has changed in the last decade and so much is changing still. For instance, today many businesses still only operate from 9-5pm, but it’s unlikely the digitised millennials will accept standard business time. Likewise, today we still have cars with drivers, have letters delivered by a postman not a drone and make our kids sandwiches rather than 3D print them, but in the future our reality may be more akin to a sci-fi film. After all, who’d have thought that when we were watching Inspector Gadget over our coco pops, one day we too would be able to talk into a computerised watch. Knowing how to innovate puts you ahead of the race.
5. At some point in our lives we’ve all said, “I’ve had a great idea for a new way to make/build/do this cheaply/more efficiently/better” but how many people actually know how to make it happen. Having ideas is often the easy part but knowing whether you’ve got a great idea that your consumers will actually purchase, and then how to deliver it is a whole other thing. Knowing how to innovate will give you a strategy and the skills to achieve this, so that you can tick all the boxes for your business and your consumer.
6. Innovative workplaces get the best staff. Who wants to work in a boring office using outdated systems or processes, or worse, selling outdated systems or processes? Companies with an innovative culture are more likely to attract the brightest team members, and therefore have more chance of success.
7. Many people think that innovation is prohibitively expensive but on the contrary, having the skills to think and act differently provides people with greater insight into different funding avenues, more opportunities to attract funding and greater chances of building a brighter future.
8. And then there are the Stats to back it all up. Studies show that businesses who innovate are as much as ‘78% more likely to report increases in productivity' and the OECD estimates 'as much as 50% of economic growth’ in its member countries can be accounted for by innovation activity.
We may be hearing a lot about it at the moment, but innovation really is a no brainer. To succeed in business, you need to know how to achieve it. So why not sign up for Destination Entrepreneur today. It’s a small investment in your personal development, that’ll have a big impact on your business development for years to come.