Innovation in business today is essential. This mantra is most true for any business in the technology sector as there is a constant need to move forward, create new things, better and faster. The pressure that a small business owner has to leverage innovation into growth is only emphasized by the difficult economic climate. So how do you keep innovating? How do you build a team and foster the right culture to help your company stay on track, and focus on building and innovating to keep growing and moving forward?
Lean innovation planning may be the answer. Lean planning is not a product, or a service, it is a methodology, a way of managing your business. It is about understanding the minimum viable planning that you must engage in, in order to help understand your actual results, and guide your decisions to grow your business strategically. It is a methodology that allows you to make decisions about what opportunities to take, and which ones to ignore. It allows you to understand where your business has opportunities that you can take advantage of, and where your business may struggle.
Lean Planning makes innovating and adding new or different products and services to your mix less risky. You have a process in place to make plans, and then you have the ability to measure your results against those plans and make calculated adjustments. Knowing exactly where your business is financially, compared to a plan you have put together, enables the business owner to understand whether there are problems or solutions to problems before they actually affect your business. Lean planning enables SMEs to stay ahead of the game!
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