Zebraheard

Helping entrepreneurs turn ideas into a business

Economic Challenges Creates Innovation Caution


InnovationThe recent economic challenges faced by businesses in the last couple of years cannot happen without changing the way business is accomplished. One change is the way companies approach innovation. Faced with trepidation about the future, thinner margins, and limited resources Senior Management and Board of Directors are requiring an increased sure certainty in innovation initiatives.

The article “Why Some Companies Successfully Innovate and Others Don’t” written by Christine Crandell, discusses what 280 product executives have found are the best practices in today’s economy to continue to be innovative.

It is a great article and here is a little excerpt:

“In a survey commissioned for our company, involving more than 280 product executives in 17 different industries, we found common patterns among the study’s top performers. Among the good management habits of innovative, high-performance companies:…”

To read the whole text from this terrific article here is the link: http://www.businessweek.com/innovate/content/mar2011/id20110318_758366.htm?campaign_id=rss_topStories

To discuss this article with other innovative and thoughtful entrepreneurs go to LinkedIn and join the group Zebraheard – Helping Entrepreneurs Turn ideas Into A Business. http://www.linkedin.com/groups/Zebraheard-Helping-Entrepreneurs-Turn-Ideas-3845731?mostPopular=&gid=3845731

March 29, 2011 Posted by | Entrepreneur | , , , , | 3 Comments

Entrepreneurs Get Too Busy Making Money…


It sounds crazy doesn’t it?  How can you be too busy making money? The truth is you can and it will ultimately hurt  

Fundamentals

Focus On Fundamentals

your business. Why?  Because when you focus on making money you forget about all the little things necessary to continue making money. You are focusing totally on the prize and forgetting about the process.  

Basketball Goal

Focusing On The Result

 

Think of this as a basketball player focusing completely on making a basket and not developing his or her skills necessary to be a successful scorer? You might get lucky for a period of  time,  but eventually your lack of preparation and training will catch up with you and the player who did prepare and train will surpass you. It is the same in business. Prepare and train. In business training is putting the right processes, and people in place.  

Write down 5 to 10 questions you should ask yourself at a minimum once a week. Get in a habit of asking yourself these questions. Doing that will keep you focused on the little things that will make you successful as you grow. An example of a few of the questions would be: Am I getting the correct information to make the right decision?, Do I have right amount and quality of people in place that I need to move forward?, Am I delegating enough?, How can I make my company be more prepared for growth?. These are few examples and should give you the sense of the type of questions that you should ask yourself.  

My hero is John Wooden, the basketball coach.  He was a great coach and better leader of people.  His take on this is:

 “It’s the little details that are vital. Little things make big things happen.”  

 John Wooden quote  

September 21, 2010 Posted by | Entrepreneur | , , , , , , | 6 Comments