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    1. wholesaleinsight's Avatar
      wholesaleinsight is offline

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      #1

      What’s the Big Idea?

      The businesses that show the greatest growth potential are those which are constantly innovating and pushing forward. What determines whether an idea is a good idea is not necessarily its size or scope, but whether or not it can be implemented effectively.

      Small ideas are aimed at improving upon the aspects of your business that are already established. Big ideas are those that require a complete reimagining of how you do business or where your business is going in the future.

      Like everything in business, though, there are risks involved with each type of idea. Small ideas may not lead to the explosive growth that a big idea could, but neither are they as risky as a big idea that could blow up in your face. Remember, not every good idea has to be big idea, nor are all big ideas necessarily a good idea.

      Small Ideas

      For most small or medium sized businesses that are still establishing themselves, it is usually best to stick to smaller ideas that focus on improving current products or practices. If your company is already doing well, then the incentives to take a big risk are not as enticing. There is a lot to be said for a small idea that can increase efficiency or productivity or improve on an existing product line. If you can figure out a way to make your business run smoother, then you have made a big step in ensuring the continued success of your company.

      Small innovations build on themselves and help to reinforce a solid foundation for future growth. A great way to help come up with good ideas and improve morale is to talk to your employees about what they think could help the company. You hire your employees for their expertise, so it is seldom a bad idea to rely on that expertise to help streamline the daily business happenings.

      The downside to small ideas is that they do not do much in the way of tactical advantage over your competitors. They are often easily mimicked or only represent a minimal improvement over the market standard. Small innovations are necessary to keep moving forward, but they won’t get you out of range of your pursuers.

      Big Ideas

      Big ideas, on the flip-side, are those that are going to put you miles ahead of the competition, but they often come at a greater cost and risk than their smaller counterparts. Big ideas are those that will rattle the business world and put you at the front of the pack. If you can make it succeed, then you will be in a position to continually be the frontrunner.

      Some big ideas don’t necessarily even require it to be a solitary good idea. If you can come up with a way to improve many aspects of the business all at once, then the effect is not just added; it is multiplied. By hybridizing smaller ideas, you eliminate some of the risk while still jumping out ahead of the competition.

      Often though, a big idea is one that requires you to commit a large amount of resources to ensure its success. They often require the development of new technology or manufacturing tools to bring the product to fruition, so there is potentially a sizable capital investment that must be committed.

      Like I said earlier, it is all about calculated risk. Larger companies or those at risk of major marketshare loss are usually more willing to take on riskier ventures. They are not to be pursued haphazardly, but the potential of the next big idea to springboard your company to success is not to be dismissed lightly, either. Whatever type of innovation, big or small, fits your company, always remember that how you put an idea into play is almost as important as the idea itself.
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    2. swifter is offline

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      #2
      Thank you so much
      Over 150,000 Verified Sources + Deals 95% Off MSRP + Free Website!

    3. Timon41 is offline

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      #3
      Its a very nice , inspirational and a useful article through which I have learnt a lot of things regarding the business policies and ideas. Thanks for the great posting.!!!

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