What’s the best way for SME’s to innovate?
It’s difficult for SME’s to conduct large scale new product launches for example.
And with limited budgets its’ not feasible or desirable to have lots of failures and take big risks for example.
So where does this leave SME’s?
Is innovation for SME’s even possible?
Yes is the short answer.
Innovation must be done because customers expect it and if you don’t competitors will.
Speed, innovation and the customer experience are still the best ways for SME’s to compete with the big guys and grow a business.
This is why adopting a small wins approach might be the most effective way to innovate.
Create new ideas, then run quick, small tests or experiments, measure what happens, learn and then celebrate.
Small wins innovation is the very essence of a successful growth program.
Small wins over time can make a big difference!