If you are starting a new business you may be feeling a little overwhelmed by the number of decisions you need to make. You may wonder what secret tricks successful business owners used to ensure that their companies grew in the right direction. Here are twelve tips that you should use in your first twelve months in order to make sure that your company has the best chance to succeed.
An entrepreneur does not run a business with his or her acute business acumen alone: it comes with leadership skills. Here are some tips for a startup entrepreneur.
Employers often seek cost effective, informal ways to enhance office culture. These strategies usually involve improving channels of communication in very basic, informal ways. But every company is not the same. Small companies have the advantage of creating a unique culture with no visible boundaries. So how can these organizations take advantage of this?
To mark the occasion of the contest opening for the International IMP³rove Award 2015 – the global championship in innovation management – IMP³rove Academy has interviewed Levent Alatli, General Manager of Koza Yönetim, the award winner of 2014.
You don’t need to look far to see risk in innovation leadership. Yet many entrepreneurs lack a sufficient understanding of how to judge and deal with risks. In this article we introduce a model for classifying risks in innovation leadership. In turn, we discuss how some of these risks can be reduced or averted, and in some cases even embraced and reframed to mean something positive.
This is the era of rapid changes and disruptive innovations, and no startup, irrespective of size or industry, should be launched without a high degree of innovation and differentiation. This article is about the why, what, and the how— the systematic way to achieve this, based on the long international experience of the author, Dr. Stephen M. Sweid.
The focus of the The Innovation Formula is on the innovation process that makes sense for small businesses, where lean, simple, and fast are essential. You may also be interested in a view of the innovation process that’s suited to larger companies, so this chapter provides an overview of the Innovation Master Plan framework that we use when we’re working with larger organizations on innovation projects and initiatives.
There are four different types of innovation tools that we’ll describe here, including the design of the work place itself, practices that encourage and even enable effective collaboration, open innovation approach to connect inside innovation teams with outside partners and experts, and online tools that constitute the virtual work place. Separately and especially together, these can make a tremendous enhancement in the performance and the satisfaction of individuals, teams, and your entire organization.
The process of designing and developing your own innovation portfolios occurs as a series of steps that are described in a sequence because the output of one step will help you to think about the subsequent ones. The process builds towards design conclusions and decisions about the choices you’ll have to make, and then the investments that will back them up. In this chapter excerpt, Langdon Morris walks us through the process.
Probably the single greatest threat to most small businesses is “concentration risk,” also known as “keeping all your eggs in one basket.” In this chapter excerpt of of The Innovation Formula Langdon Morris discusses innovation portfolio design, and how it translates the goals and intents of your aims and strategy into a set of risk-managed innovation projects.
In the first chapter of The Innovation Formula for small business leaders and entrepreneurs, Langdon Morris explained the importance of questions and maps that describe competition, change, the future, innovation and strategy that are intended to help you understand the significant forces that are shaping business today, and to harness the ones that are already shaping tomorrow. In the second chapter, we look at a third core element that this book is organized around, which is the innovation formula.
Innovation is as important for small business as for large ones, but most of the books and other writings available focus on the big firms. In his new book The Innovation Formula, Langdon Morris provides insights for the small business leader or entrepreneur about how to be fantastically successful at innovation even with very limited time and capital to invest.
As the market becomes saturated, it becomes difficult for many businesses, especially startup enterprises, to stay on top of their competitions. Technology has paved a way for firms to revolutionize their marketing and management strategies. Another tried and tested way to infiltrate their specific markets successfully is to inspire innovation within their offices, from employees to their brand.
For those of you who read my articles on a regular basis, you will know that I tend to focus on driving innovative activities and cultures within large, corporate organizations. Today however, I would like to focus on the value of innovation to growing, mid-market companies. For the purposes of this article I will consider mid-market companies as anywhere from 300 – 3,000 employees. This is just an arbitrary number, but it provides context for our discussion.
Innovation policy is about the challenge of contributing to the wide objectives such as employment, sustainability and economic growth. How to approach such a task? The answer is simple but the effort complex: Aim for a strong innovation eco-system. Referring to the case of the IMP³rove Euromed Project the article suggests four systematic steps on how to establish an effective, innovation inducing eco-system.