As the business owner, it’s your responsibility to come up with a winning concept. Having a lot of ideas is essential if you want your business to stay afloat. Now these ideas may never even become reality, but remember this: whatever a business does that enables it to adapt and evolve through time has to start with an idea.
And this is not just for businesses that have become stagnant or aren’t enjoying any form of continued success. Even when your business is thriving, you still need to come up with ideas on how to improve your services, improve your internal processes and improve the overall machinery of the business.
That’s one of the things you can gain from Business Coaching. My job is to mentor business owners in finding new ways to keep their business afloat. So how do you go about formulating new ideas?
Always think of the next level
To arrive at a good business idea, you need to be ahead of the curve. Think about trends and technologies on the horizon and how you might be able to leverage them. If your current system is working just fine, think of how it can work even better than fine. If your clientele are happy with your service, think about making them happier. Again, always think of the next level.
Think about how to finally solve your greatest problem
What idea could be better than coming up with a solution to something that has been bugging you for ages? The past year might not have given you enough time and energy to address perennial challenges, but now is the perfect opportunity to sit down and to ultimately make a fix. Remember that most “eureka” moments happen in the midst of trying to solve a difficult problem.
Come out of your business cocoon
What are the things that you’ve always wanted to do with your business but never got the chance to do? Don’t be afraid to explore new niches and utilise different angles in running your business. The new year makes it easier for people to embrace change, and you should take advantage of possibly starting a “reinvention” when there’s a perfectly good reason to.
Determine your weakness as an entity and focus on reviving it
Even when you’ve had fantastic growth last year, it’s hard to believe that all aspects of your business are at peak-level. There’s always room for improvement in every structure, and as a business owner who wants to come up with something new, it’s only logical to pick your weak points as your first priority. Did you get poor customer feedback last year? This year, redeem yourself. Did you lack social responsibility last year? This year, do more social activities. Did you get poor sales last year? This year, find ways to generate more revenue and manage your finances better.
Talk to your team
To discover an idea that would help your business grow, there’s no better way than by talking to your own people. They’re the ones rowing the boat, so their insights and knowledge about everything that’s going on is a good place to start coming up with things to work on. Do a quick survey of what your people think are some of the facets of the company that need rebuilding. Find out whatever makes them happy in your workplace and think of a way to augment that. Learn their grievances and work on a solution to minimise them.
Business Coaching can help you manage your business in ways you’ve never imagined. We’ve worked with companies based in all of the Midlands including Leicestershire, Derbyshire, Nottinghamshire and Staffordshire. Discover how we can help you grow your business by attending our free workshops and seminars.