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Business innovation is usually defined as when a company comes up with something new - be it products and services - for the market. 

However, innovation encompasses other things including new processes, new collaborations and partnerships and so much more. 

So how should you, as a business owner, innovate? Where do you start? Where do you focus your efforts? And how do you make it happen?  

My guest today, Michael Haynes, founder of Listen, Innovate and Grow, reveals specific and practical steps to take to successfully innovate and affect positive change in your growing business.

He empowers CEOs of service-based companies to acquire B2B clients and achieve the growth and impact they seek through business innovation. 


In this week’s episode, we discuss:

1:55 What is innovation and why is it important for a small and growing business?

2:47 How does innovation differ in B2B and in B2C?

6:40 What would the process look like for someone who wants to innovate, but has no idea where to start?

10:18 How would you do market research and your listening in the context of innovation

15:23 Is there a difference in how you do research/listening if you are a B2B targeting smaller vs bigger businesses?

20:45 How do you fit the innovation process into your company's strategic planning? Is there a specific process to move into that innovation type of thinking? Do you listen on a regular basis or is it scheduled eg annually?

26:55 The shift of B2B buyers formerly getting insights/information/data from one source of authority to now consulting/asking their peers and members of their network.

29:55 Are there tactics that work well universally or does it depend on the industry as well as the company?

34:00 Why does collaboration and co-creating content with clients and partners work so well?

35:57 In the B2B market, does education come first and selling second?

39:20 What does organizational innovation look like, particularly in a growing business space?

43:42 What does process innovation -within the company - look like? 

47:40 Are there any common misconceptions and mistakes when going on this innovation process/journey?

50:20 Change as an obstacle: the importance of change management in a growing business.

Resources:
Michael Haynes, Founder and Principal Consultant:
https://listeninnovategrow.com/


Michael's Book | Listen, Innovate, Grow:
https://www.amazon.com/dp/B07F6RQNLX/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1


Kathy Svetina, Fractional CFO:
https://www.newcastlefinance.us/

Blog post | How to Innovate: A Blueprint for Your Business:
https://www.newcastlefinance.us/post/how-to-innovate-a-blueprint-for-your-business

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