On Wednesday, February 24th during #StartupChats, we talked about the power of innovation and small business with Cisco Small Business.
We were joined by a trio of experts to dive deep into why innovation is important for small businesses and what it looks like across various industries and sectors.
We defined innovation and what it looks like;
A1 Take a new approach to doing something. Business model innovation might involve offering a service in a new way, while technology innovations can result in completely new products and solutions. Innovation can lead to increased efficiency and profits.#StartupChats
— Matt Elton (@fintech_matt) February 24, 2021
Innovation is really about responding to change in a creative way. It’s about generating new ideas, conducting R&D, improving processes or revamping products and services. #StartupChats @Startup_Canada
— Innovators and Entrepreneurs Foundation (@IEF_FIE) February 24, 2021
When I think of innovation I think of the supportive individuals close to me who inspired me to push my own boundaries to think differently. As a younger person in entrepreneurship, the guidance and support from my mentors and peers in my life have been pivotal to my success.
— Lindsay Puls (@PulsLindsay) February 24, 2021
We talked about times when innovation furthered entrepreneurship;
A2: Last year, we introduced an eNotary service that allows entrepreneurs to notarize documents online. This offering was a big hit with our customers, especially those that needed these services during lockdown. https://t.co/JA5pfmxL4f #StartupChats
— MyCorporation (@MyCorporation) February 24, 2021
A2. I can’t think of a time over the last 5 years when I’ve not been innovating in one way or another. It started with a question about whether it was possible to make #publicrelations & #marketing work for startups and smallbiz.
It lead to an entirely new approach #StartupChats
— LYNDON [THINK DIFFERENTLY] JOHNSON (@THINK_Lyndon) February 24, 2021
A2 I constantly test and experiment, look for opportunities to listen to my clients & my business environment – finding new ways to engage with my target audiences (be it social media, in-depth conversations or #startupchats 😉 )
— Kristina Medow (@kmedow) February 24, 2021
And what happens when we don’t innovate;
A5 We should always be looking for new ways of doing what we do.
If we don’t we can stagnate, and get overtaken by those who can offer a better product/service for a lower price.
Eventually we can become irrelevant – look at firms like Nokia, Kodak, etc..#StartupChats
— Matt Elton (@fintech_matt) February 24, 2021
A5. Nothing changes. We don’t find better ways to solve problems and we don’t move forward as a society #StartupChats
— LYNDON [THINK DIFFERENTLY] JOHNSON (@THINK_Lyndon) February 24, 2021
A5: Ask that to a caveman. If you didn’t try steel instead of a knife made of stone😃
We are always looking for a better life, an easier, comfortable, profitable and efficient life.
In business, you provide value to society. Society is dynamic so should your approach— Distinct Graphics & Software Solutions (@DGSSab) February 24, 2021
If you want to see all of the topics we covered during this chat, you can see the whole transcript here.