Posted by: dagmarsands | April 1, 2015

Keep Your Established Business Fresh Using Startup Principles

Manta Tip of the Day:

Even if your small business has been around for generations and it’s not a tech company situated in Silicon Valley, you still may want to consider working in some startup principles. After all, who says you need to be a startup to be innovative?

The fast and furious problem-solving approach typically associated with start-ups just might help lead you out of a slump—or get your business to the next level.

To get there, start with simple changes. Try to:
■Foster a collaborative environment, encouraging team support and innovation at every level.
■Encourage brainstorming and new ideas. (Don’t fear ‘crazy’ ideas. Remember the pet rock?)
■Iterate on projects. Nothing is ever perfect right out of the gate.
■Move quickly, fail quickly—if you see it’s not working, move on.
■Test again. And then test one more time.
■Empower employees to make decisions, nothing holds back innovation more than the inability to try new things or make changes on the fly.
■Tear down silos and spread ownership of projects and responsibilities.

Just because you’ve always done things a certain way, doesn’t mean legacy processes and products are the best route forward. Being open to ideas and allowing flexibility could breathe new life into your company and garner better results.

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