How to Generate Innovative Business Ideas
Download MP3During this time of social distancing and stay-at-home orders, it can be easy to slip into “maintenance mode” in your business. While these are unprecedented and uncertain times, this is the perfect opportunity to strategize innovative business ideas.
On this episode of The Friday Habit, Ben and Mark discuss specific ways to come up with ideas for your business throughout the year, but particularly during this time of COVID-19 quarantine. Undoubtedly, you have noticed many businesses shifting their methodology and messaging out of necessity such as coffee shops and restaurants offering convenience and grocery items for sale to customers. If you are struggling to come up with creative solutions like this for your own business, here are 3 places to start your brainstorming:
- Cross-pollinating from other industries – Take a step back from your industry and survey the entire market, thinking about existing ideas and concepts that you could apply to your own business in an innovative way. There are transferrable ideas all over the place if you just take the time to think through the application for your own niche.
- Applying imaginary limitations to your business – We are all learning to adapt our businesses to align with the societal and governmental regulations of business operations during this time of COVID-19, but you might also benefit from putting hypothetical restrictions on yourself. For instance, if you had to limit the time or resources used to complete a project, think through what adjustments to your systems or processes would need to be made? If you were to be incapacitated for a week, what would need to be in place for your team to be able to pick up your workload and seamlessly carry on with business?
- Use the Friday Habit program – Get the free download from our website that will walk you through how to allocate one day a week to spend on your business instead of in your business. This method of constant improvement and evaluation is a great way to continually innovate.
Your action item this week is to do the cross-pollination brainstorming exercise at the link below.
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