Innovation in Accounting and Business Planning - Event Highlights
The discussion highlighted in today’s ever-changing market, innovation is at the forefront of economic growth and job creation. Nothing is too big or too small when it comes to innovation and in times of adversity, innovation tends to increase, and we are seeing a lot more innovation taking place. It can transform productivity and efficiency and those who have embraced this will reap the benefits.
When you’re running a business, change is imminent. Don’t get left behind! Your competitors will be innovating too and it’s in businesses best interests to increase innovation rather than compete on price, as price competition can harm an entire industry. Businesses need to have a continuous improvement mindset to anticipate customer’s emerging needs to build an enduring, profitable business.
The three proven, research-based strategies to evaluate and apply to your ideas to increase their success were discussed:
- Know your market
- Know what influences your market’s buying decisions and which are most influential
- Build it lean
- Build your idea with lean principles so you reduce your risk and control your costs
- Launch with stealth
- Launch ideas so the competitors don’t destroy you in the process
There are also a number of local and state government grants and funding available for business innovation which you can find more information on.
If you have an idea and don’t know what to do next or have an idea you want to get back on track, or don’t have any ideas but recognise the need to stay relevant to customer needs, please contact the team today and we can put you in contact with the relevant expert.
For any further information or a copy of the webinar slides please email info@advivo.com.au.
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