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Lizzie Weakley
Lizzie Weakley has written 79 articles for SB Informer.
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5 Ways to Help your Business Become a Community Innovator

Lizzie Weakley

August 22, 2016


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Small business owners are poised to become leading innovators within their local community. Directing your financial and intellectual resources towards product or service innovation can positively impact the neighborhood's economy and empower them to further support your brand. This cycle is what entrepreneurship is about, yet most business owners have no sense whatsoever of how they can become a community innovator.

Figure out a Market to Innovate

There's always room for improvement, yet the tricky part is looking for those holes that can be improved and profited from. Examine your business and look for possible changes that can be made both from a design and functionality perspective. Avoid changing product features or service mechanics for the sake of being original or unique. You have to figure out if the change improves the product/service.

Involve the Community

Have your customers participate in your regular business operations and expansion plans. Conduct surveys about possible locations for your future branches, what features the customers like or don't like, and overall how you can better serve their needs. Becoming a community innovator means focusing your efforts to change the way people live in the community hence you'll need their input before making any actionable business decisions.

Seek a Higher Education

Pursue advanced courses that can help you become a more innovative thinker. Graduate degrees like a master’s of science in engineering management can give you a competitive advantage in your industry. It instills specialized knowledge and training that you can use to develop new product designs and management systems.

Focus on Market Research

Data gathered from researching the market can guide you towards making innovative changes that customers can appreciate and support. Through extensive research, you can better understand what your existing customer base likes about your product/service over the competition, what demographics your average customer belongs to, and what your product/service lacks.

Capitalize on Technology

Every month, it seems new technology arrives in the market. As a savvy business owner looking to become a notable innovator within their community, these new technologies are a boon to capitalize on. With new tech, you can create new products, streamline your services, and overall run your business with more efficiency.

While civilization is gradually becoming more advanced, there is always room for innovative products and services that can change the way people consume finite resources and, more importantly, live their lives. These five ways should help you achieve that goal slowly but surely.


                   



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