Can small businesses unlock innovation through simple thinking?

Cashmanager | 5 years ago

In the business world, the assumption is that a complex problem will need to be solved by a convoluted solution. For huge conglomerates, that will likely mean pouring a huge amount of time, resources and money into one area of their operation.

For small businesses, that isn't really an option. So, is it possible to be truly innovative and find ways to solve problems through simple thinking?

Innovative problem solving

As noted in research published by the University of Warwick, innovation is crucial to small businesses as it is directly related to consumer experiences. In simpler terms, the company has to evolve to satisfy its customers.

Changing the strategy of the enterprise can be difficult, but asking the easy questions is the first - and most productive - step. For example, small businesses should aim to centre their mantras on one statement: Could this be any better?

If the answer is yes, then pursuing change is a must. If it's a no, then the company should ensure that its current offerings are the best they can be.

A working environment.

Seeking out ways to solve business issues or improve products and services is typically difficult without inspiration. However, the solution to most problems is found close to home. Being mindful and thinking inwardly can prove highly successful.

As software developer and Entrepreneur contributor Justin Esgar noted, companies tend to move quickly and accept things for what they are, rather than taking a step back and asking questions - even the most simple ones.

Businesses should aim to keep their processes simple. For example, in terms of bookkeeping and accounting, using a system such as CashManager from Accomplish ensures that company financial information is easy to read and digest at a glance.