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PKF Texas – The Entrepreneur’s Playbook: Innovation Leads to Success

by | Nov 16, 2007 | PKF Texas - The Entrepreneur's Playbook®

Note: Running most Fridays in FromGregsHead.comis a continuing series of tips brought to you by Greg Price. These run Saturday mornings during the BusinessMaker’s Radio Show on KPRC 950AM. Audio files can be found on the Entrepreneur’s Playbook page of the PKF Texas website.

The people who work for your organization and the partners they work with are the driving force behind your business’s success. In today’s marketplace, success depends on quick and intelligent responses to problems. To help ensure business success, you need to equip your people with the right tools to respond quickly to change, access the information they need to make critical decisions, and focus on strengthening and expanding profitable business relationships.

The days are long past when you could store information about each business partner on an index card.

As innovation becomes more of a preoccupation, its focus is changing. Gone are the days when an innovation was acquired from experts outside the company and then installed like a new piece of equipment.

While it’s possible that a shotgun approach to innovation spending will lead to a positive outcome, it’s highly probable that it also will result in wasted resources. Better to precisely target the effort.

Effective innovations that deliver a solid ROI aren’t imposed from outside. Rather, they grow organically from within the organization.

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