The saying goes that insanity is doing the same thing over and over again and expecting different results. A company can’t expect to generate profits and new consumer bases by putting out the same thing year after year. There’s always room for progression and improvement. The hard part is figuring out how to break out of those old patterns and build a new plan. It can be tough to let go of old ideas or see the business from a more realistic and objective perspective. That’s where a professional corporate innovation workshop can help with company growth.
Encouraging Innovation At Corporate Workshops
One solution for teams stuck in a negative situation is a one day corporate innovation workshop. These intensive courses can make a massive difference to those struggling to break out of limiting patterns and take their business to a new level. Here are some of the different factors that you can learn about.
1) The core values your team needs to succeed
There is a chance that one area of your business is lacking and dragging you down. If you can blend the right talent into an effective team with a good culture and strong insights, you have the foundations to succeed. Figure out which is missing or needs work.
2) Determining the key problems and where to progress
Something within your current service or product line isn’t working for you. With the right teamwork and honest discussion, you can see where your priorities lie and where you may be wasting time and effort. You can pick and choose your battles to win the war.
3) Viewing product and service designs from new angles
What is it specifically about those products and services that aren’t working? Is it failing to resonate with a target market because it has grown stale and out of date? Is there a problem with the way it’s delivered and marketed to people? Dive deep and figure it out.
4) Improving company culture and attitudes
Culture was a factor mentioned above. You need a strong culture where everyone is on the same page and positive about the future of a product and the brand. Figure out ways to cultivate this so that a simple and functional part of your product line becomes something everyone is passionate about. If it’s impossible to build that passion, get rid of the product.
5) The need for effective product analytics
Analytics can be a scary word for some managers and staff working with creative design or practical products. However, without effective data, you can’t measure growth. You need numbers telling you what isn’t and isn’t working and the precise reasons why.
There is clearly a lot of work that goes into these one-day courses, and team members have to be committed to the process. Still, those who make the most of the activities and tuition can move forward with a new innovation strategy for company growth.
The Five-Step Innovation Strategy
By the end of this corporate innovation workshop, you and your team should have a better idea of how to grow. You can take everything you’ve learned from the seminar and team activities to build a strong five-step plan.
1) Figure out your objectives
You may have already gotten a good idea of this at the workshop depending on the breakthrough you made. You need that lightbulb moment where you admit that the current situation isn’t working and you want to improve. Figure out what success means in terms of numbers, profit, and the status of the business.
2) Determine the best practices or product solutions to achieve them
Next, you need to figure out how you’re getting there. Again, all that seminar work on product development can help. You can look at what you need to axe, what to repackage, and what brand-new ideas to take forward. Look at everything you have with a fresh eye and see how your products can work better for you.
3) Identify and allocate your resources
You can’t do any of this without the right people, resources, and finances. So, make sure you have a strong talented team ready to dive into product development, marketing, and any other department that needs an upgrade. Look at how to supply them with the tools to make their work more efficient. Budget for each department without under-promising or over-spending.
4) Create a timeline for success
It’s good to have a deadline in mind, even if it’s slightly flexible. Where do you want to be in terms of product development and launches by the end of the quarter? What profit do you want by the end of the year? Are there any major events or tradeshows to use as that deadline?
5) Measure your progress
Finally, we come back to those crucial analytics. Make sure that there is someone following the numbers and keeping track of everything. Use those to determine success and see if you need to tweak the plan.
The important thing to remember here is that this last step isn’t the end of the process. The whole point of effective company innovation is the desire to consistently improve. Eventually, the idea you have now will stagnate, or the industry will evolve, and you will need to do better. Still, if you can hold onto all the skills from the innovation workshop, you can evolve and profit.
Take The First Step To Better Company Growth.
Companies aren’t going to thrive and outcompete rivals without great innovation. That innovation isn’t going to come without some serious work. You need the introspection and honesty to look at the business’s strengths and failings. Go over the practices, look at new product ideas, and make sure you have a realistic roadmap for growth.
The best way to get started is to bring in some expert third-party help. You need someone who can help you analyze objectively without getting caught up in the subjective areas of the business. So, get your team booked into a corporate innovation workshop with a skilled professional and get the ball rolling.
