Small changes over time can lead to big returns.
Innovation is all about discovering an opportunity that can create additional value for your current target market.
You can always “go big” or just look for ways to incrementally improve existing products and services. What can you do to make your current products/services even better? Innovation can also be a better communication system with your customers or a better delivery system for your products and services.
Innovation is something that every business owner has to look at on a regular basis. Your competitive advantage today may not be the same tomorrow so it’s a good idea to set aside time at least once a quarter to analyze your business and find that new idea.