Innovation is important to entrepreneurs, whether they are starting a new venture or expanding an existing business, as a new or improved product can provide a competitive edge.
Innovations may include a completely new product or improving an existing one that provides a more valuable experience for the consumer. The new or improved product can provide a competitive edge that makes the business stand out from the crowd. Innovative ideas are valuable to entrepreneurs in all industries and for businesses of all sizes.
Yet many entrepreneurs, do not fully utilise innovation or understand how to ignite it, causing them to miss out on potential ideas that could have a significant impact on the success of their business.
For those struggling, here are five ways entrepreneurs can start identifying innovative ideas that can rapidly accelerate their business.