The word entrepreneurship is often overused in that it now applies almost entirely to anyone who owns or starts their own businesses. Whereas the real entrepreneurs are the ones who not only take the risk of starting their own businesses, but are innovative in their approach or in introducing new products, process or service. In that case the real entrepreneurs are those who do things differently.
So what is innovation, you ask me? Innovation or an innovative way of doing something may be a new way of doing things for example, Amazon introduced a new way for us to write books and be published, a new product such as the iPod, which a new way of listening to music or even a new way of providing a service that we are used to such as online banking. We have been putting our money in banks for years, but now, we can do all these transactions in the comfort of our homes.
Innovation is about new thinking, new ways to attract new customers or a way to get the same product into a new market. It is what keeps the real entrepreneurs awake at night and the unique selling point for a new product or service. There are so many new products and services over the last 20 years that every time you think we must have reached the pinnacle of new development, we get some new products or new ways of doing the same old things.
The mobile phone, the Internet, self driving cars, online travel bookings, Facebook, Tweeter, key hole surgery. There are just so many new and innovative things being introduced by incredible entrepreneurs from across the world that will make anyone who is over 40 years old feel really old when you think back on what life used to be like before all the new inventions.
It is truly amazing what has been achieved and this blog will spend some time writing about recent inventions just to make sure that entrepreneurs are jot only aware of these new ways, but that they consider such new products when they are considering their own startup. Are you aware of what your competitors are doing? Is your system, process or service offering unique enough? Are you able to make use of some of the new invention to sell more, introduce a new way of increasing efficiency?
Customers these days are so savvy, they know what they want from your business, they want things that will blow their socks off, but to do that, you need to be on top of your game as well.
As a consultant one of the things I speak to my clients about is the uniqueness of the product or service they are offering. If your offering is special, then it is easy to get publicity, but even as you get that special thing into the market, there are others who will quickly introduce the same offering into the market. This happens to both the small and large organisations.
Innovation will affect every aspect of our lives and we are no longer surprised when we find out that there is a new product. There have been so many that to be truly surprised, we need something remarkable and that means that as entrepreneurs, we need to be on top of our games doing what we love to do and living our dreams far beyond just working 9-5.
Check out my update on new products, some of these are the ones that I hope will help you to develop your service to your customers or in short blow their socks off.
As you might have guessed, I love the new gadgets. From the drone to the iwatch, the wireless vacuum cleaner, the steamer for house cleaning, the electric bicycle, the scooter etc. The list is endless and you will be happy to know that not all of us have to be inventors to make the grade, we may just have to be the ones to introduce or find out how to do these things or even just the ones to teach others. We just have to know more than the average customers.
The founder of Easyjet has been credited with revolutionising the airline industry. I absolutely believe that he did, but let us be clear, he did not build the plane, but he started a process that did away with airline tickets and the long winded way of visiting the travel agents. So he took advantage of the internet to develop a process that allows all of us to travel cheap because in reality, most people just want to use the plane as a form of transport to get us from A to B without all the razzmatazz associated with travelling. I am still amazed to find when traveling some young people in their gym or casual wears. Traveling by air for many of us is still something special, even on short haul flights, so dressing ‘appropriately’ for the occasion is still part of the ritual. By the way, it does not matter how many times I fly in a year, it is still something special. This might be due to the fact that when I was growing up, travelling by plane was treated as special and only happened infrequently.
To conclude, entrepreneurs must look for something amazing in order to blow the socks off their customers. Innovation is the way, so look out for some of the simple innovations that could be adapted to put the smile on the face of your customers and give you the unique advantage you are looking for.