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3 myths about innovation that can change your business

Do you ever feel like your business is stuck in a rut? If you feel you could be more proactive when it comes to moving your business forward, maybe you should consider being more innovative. In a competitive market, innovation and originality is what helps you stand out from the crowd.

Innovation may seem like a term that is only for big international corporations, but the principles of innovation can be equally applied to businesses and government organisations of any size. Many businesses find the idea of innovation intimidating or overwhelming, but it doesn’t have to be. If you are stalling because it all seems too hard, here are a few ways to combat the myths around innovation, and help get your business moving again.

Thought – If it’s worked for this long why change it?

Do you have business systems that have been in place since you started? Although you may be hesitant to change what seems to be already effective, it is always worth considering little tweaks here and there. Sticking to old habits can cause your business to stagnate, and even a few adjustments and improvements might be enough to shake your business out of its rut and get it moving forward. Remember, however well things seem to be working; there’s always room for improvement.

Fact – Innovation does not mean changing everything

Overwhelmed at the thought of making sweeping changes to every aspect of your business? Innovation does not mean that you have to change everything at once and completely overhaul your entire business. Innovation can start with a few small changes to one or two things, and then lead on from there. You get to build confidence, develop your skills and learn more about what you really want. Big-bang overhauls can create more problems than they solve, particularly if they have not been properly thought through. With enough small changes you can end up with a big transformation before you know it.

Myth – You have to risk everything to innovate

If you are worried that you don’t have enough resources to innovate, or you aren’t prepared to gamble the future of your business on a new idea, however compelling it may seem, you don’t have to. Innovation doesn’t have to be expensive, and you don’t need to hire an entire research and development team to implement effective changes. Innovation is not an all or nothing approach, it can be done in increments, and you can start slowly and build on your changes as you go.