In order to keep up with the current times and continue to provide value to your corporate clients, it is critical that your minority or woman-owned business (MWBE) be innovative.
Many leaders like to talk about thinking outside the box, but there are so many ideas out there already that are ignored.By nature, entrepreneurs are big thinkers that generate more ideas on a yearly basis than they could ever put to use.
The important thing to remember is that big ideas are just that–ideas–until you execute them!
So how exactly do you add innovation to your MWBE? I believe what you should do to be innovative in your small business isto figure out what to do with the ideas you already have and make them work. In other words, figure out how these ideas will make you money.
If you want to build an amazing business, it usually isn’t necessary to look to create something that is the “next big thing.” Turn to what you already have and figure out how to leverage and maximize it. When you do so, this also creates a great opportunity for you to circle back to corporate clients you have already worked with to discover additional needs and land new contracts.
What I am suggesting here is an out-of-the-box way of looking at innovation. It’s likely right under your nose…
Invention is a flower and innovation is a weed. We all know which has the better staying power!