The RGJ business columnist Steve Ceroke posted these tips this week about business in Nevada and its new future. I think the insights Steve shares are spot on. Innovation and creativity are required elements in all business moving forward. Marketing you business in todays economy to todays educated and distracted consumer requires nimbleness. Enjoy Steves tips. Then send me some of your tips for growing business in the new Nevada Economy.
Here are a few things to consider when developing your growth strategy:
Measure effectiveness: Make sure you have technology management tools in place to measure the effectiveness of changes that you make in your business. As you implement new strategies and monitor performance metrics, this will provide insight into the effects generated by these activities.
Generate internal change: Innovative concepts come from questioning each phase of your operation. Senior management must be committed to monitoring and evaluating operations while incentivizing employees to produce change. Employees will respond to the opportunity to learn new skills and expand their competencies.
Create new ideas: New ideas and processes will be necessary, whether you capitalize on new markets, add new technology or introduce convenient solutions to changing needs. Make sure you have the systems and methodology in place to evaluate and implement new ideas in a systematic way while measuring the results.
Innovation is an organizational imperative in the new economy. Consumer preferences are changing, business is more competitive and technology is revolutionizing the way we interact. The new normal will require business owners and managers to adapt, evolve and grow. The benefit will be faster business growth, happier employees and exciting new opportunities.Steve Cerocke is founder/president of IQ Systems Inc. of Reno.