Would your business benefit from 250 or more new ideas a year? Of course it would! Here’s how to generate them.
Many people who own a business or manage a team believe that they got to where they are because they know more than the others. That may well be true, but what isn’t true is that they know *everything*. Let me explain that a little more.
Assume that the current Manager used to work in this team prior to being promoted. Let’s also assume they were promoted because they were the best. The last assumption is that their promotion was five years ago.
Things have changed in the last five years. What was impossible five years ago is now common place. My grandfather was born in 1881 and lived for 98 years – when he was born there were sailing ships and real horsepower. When he passed there were radios, televisions, 747s, men on the moon and computers (on desks!). Even if he stopped learning when he was – say – 25 he would have been way out of step very quickly. The real point is that inventions are happening faster every day – your knowledge is getting out of date quicker than ever before [Well, not yours, because you read Results In A Minute, but I worry about that person next to you! ].
So what was impossible to improve when you worked in on a task five years ago may by now be quite old fashioned. Who knows? The people who currently work on that task do. They are the expert that you used to be. Did you want to tell your boss about a better way (or better yet – did you?) Well, so do they!
That’s true for all aspects of your business. The people doing it today know more about what’s not working as well as it needs to be and what to do to fix it than anyone else. So how does this help you?
Ask them for suggestions. Yes, polite suggestions, and only suggestions that are legal, moral and non-fattening!
Imagine a small team of five people – ask them for an idea each week. Tell them that any idea they suggest that is implemented will result in them receiving 5% or 50% (or anywhere in between, you decide) of the increase in profits for the first year. Would that encourage them to give you good feedback? You know it would!
Not all ideas are good, and not even all of those are appropriate for ‘this’ business ‘right now’, but if you had five people each giving you a new idea a week that would give you something like 250 ideas in a year.
If only 5% or 10% of those are worth implementing and make a real difference that’s still a dozen or more ideas a year. One a month. Is that going to improve profits, customer care and staff morale? Absolutely!
What new ideas have you suggested or implemented, and what result did they make to the annual profit?