Having new innovative ideas for your business is a symbol that, you are progressing in your business. Once the business stops growing; the first thing you have to check is; have you innovated any new ideas lately? If yes; were they sufficient for your business scale? If no; did you made any changes in those innovations? These are the simple yet effective things; one need to lookout for.
The innovation ideas can come from any department of your company. Be it an IT department, marketing, developing, or designing department. A little of innovative changes can differ a lot in your business scale and take you towards growth and success, very rapidly. Many of the entrepreneurs have a say in this that, “small scale business grows innovation more successfully than large scale business”. This is true up to some extend because; the small scale business doesn’t have to go through each departmental analysis and checking, before implementing them on real field. Whereas, the large scale business has to go through many checking, analysis of the idea, every employee should be convinced with it, and most importantly the profit rate should also be on large scale, as large business doesn’t invest in small profit making ideas.
The small scale running business have less number of employees and all are totally submerged into the task given. No doubt, there are fewer rooms for ideas as there is less number of brains involved in it. But, the ideas get to be really boosting the company and attract clients fast. There are very few risks to be taken in small scale business because; very less number of employees get affected and the ideas can be changed quickly, if it’s not proving beneficial and one can try other ideas and see the results faster too.
Innovations work as a fuel in running business. They are the main source of growth and progress. Taking the example of razor companies; at first they made the razors with one blade and then they developed moving blade for better shaving experience. After this, they made some changes in the handling of razors, for better grip while shaving. This wasn’t the end; the razor companies then innovates 3 blade razors for quick and effective shaving experience. As a result; today we have razors available in various range, shapes, styles, blades, design, and most-importantly; they are now available for both the genders; male and female.
You can see in the above example that, the razor companies no doubt, made small changes in their products but, the changes were reasonable and quick; not ignoring the customer satisfaction part. Same is the case with other small business firms. They need to evolve slowly yet gradually and they can do this because there are less customer target and a small platform to perform. Any mistakes done on small scale cannot have a tremendous effect on the whole nation but; it will affect a very small portion of area and one can make changes quickly. As for large scale business; a small mistake can change into blunders within second of a wrong idea implementation. This is because; they have a large number of customers and clients looking forward on them. With such a great pressure, they cannot risk the product marketing and changes, as it can change into something hazardous too.
This doesn’t means; a large scale business cannot afford innovation. Innovation is the only thing that can bring the business to top level and one can get its own identity in the business corporate world. A large scale business entrepreneur can also make innovations but, they have to take some risks and play a safe side in the market. They must need to have a backup plan in case of the failure of the first idea or plan. Failure of a backup plan can lead to business competitors grab this chance in second and snatch your position in the success market. Yes! This is what life is. But, the day you stepped into business world; you might have known these risks from the starting itself.
Not to worry for any failures, as failures are the parts of success. With the guidance of business mentors, one can risk their ideas on large scale too and gain profits as well.