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Innovation To Sustain A Business

March 6, 2009


What does flavored coffee creamer, Dunkin Donuts new luncheon menu, and a graphic designer now offering computer training have in common? All three are innovative products or services created to generate new revenue for the parent company.

In business nothing can remain the same. Everything has to change to either keep up with the times, to respond to customer demands, or to stay fresh. Companies who don’t respond can’t compete. Entrepreneurs are either forced to create new revenue streams to stay solvent or to adjust their business plans to respond to economic changes. It’s much more comfortable to stay with a core product line or service; but eventually it takes the competitive edge out of business. Change is inevitable and necessary to sustain and grow a company.

I always believe in doing what I suggest other women entrepreneurs do, so I’ve added a new service for my members by opening up Facebook  and Twitter accounts. I have been inspired by members who already use these social media outlets. I was also encouraged by the promoters of the new “Chicken Soup for the Soul: Power Moms” book (http://www.wendywalkerbooks.com) to connect online with all the other fantastic women in the book. Some of them run amazing businesses! Sometimes as entrepreneurs we can’t ignore the reoccurring messages that come our way to open up ourselves up to new experiences and ideas. 

Today be reminded that you should listen to the messages you’ve been receiving to create new services and products; to read or learn more about innovation; and to implement some brave, new ideas to propel your business forward.

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