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Fortunately, most entrepreneurs and small business owners are nimble enough to quickly respond to shifts in the online marketplace. But what direction should you choose? You need to prepare for the next new product or service that will create new customers in the future. If you believe that you can wait until that product is in the marketplace and adapt it, you are missing the boat.
Author and innovator Geoffrey Moore was quoted in 2006 in CIO Magazine as saying,

“If you allocate all your resources based on your revenue makers or margin makers, you’re driving in the rearview mirror.”

You want to be ready for the next wave of innovation. That’s why you need to foster your own creativity.

Creativity helps you:

  • Determine your company vision and purpose
  • Deal with swift changes
  • Find new niches and product ideas
  • Increase your productivity
  • Balance your work/home life

Innovation is something that needs to lead to real products and services. Part of your time and money should be spent on figuring out how your products will evolve. This does not mean chasing the next big thing. It means carefully analyzing your strategy and developing your business plan to serve you in the future.

  • source: Web Marketing for Small Businesses, STEPHANIE DIAMOND
Read More  Internet of Things in Businesses

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