What’s stopping you?

Posted by Heather Villa, CMA, MBA, MSM on January 23, 2009 in: Branding, Business - Plain & Simple

Creating new products or services is fun! I love the idea of taking an idea and helping someone develop it, turn it into something real, and then sell it. And I know my clients like it, too, because I stay busy with this work!

Unfortunately, I’m seeing a dangerous trend in the market that impacts this product or service development. It’s related to the economy, of course: Companies are spending less on product development and many are choosing to wait until the economy improves before they bring new products to market.

While I do appreciate and preach (and practice) prudence in business spending, and I wouldn’t want a company innovating itself out of existence, the trend toward less innovation is worrisome.

I’d like to suggest that the best time to innovate is now. The best time to turn ideas into products is now. The best time to take new products to market is now.

Here are my reasons:

  • Chances are, it will cost less because other businesses (who may become your vendors) are slashing prices to get work. Spending some now will probably mean spending far less than if you were to buy the same products or services when the economy is good.
  • Your competitors are choosing the no-spending/no-innovation path. They’re just keeping their head down and hoping to make it through the recession! If you take a different approach, you’ll differentiate yourself from your competition.
  • You may not sell a bunch of these products or services now, but you’ll have time to perfect them before the market picks up again. Then, when the market is chugging away (like we all hope it will… and like we all know it has in the past), your products will be market-ready for people who are eager to spend!

Now is the time for innovation! What’s stopping you?

Please don’t let it be me! I will offer this, for the first 3 people to comment (valid comments) on this blog post, I will offer 2 coaching sessions (1 hour x 2) free of charge – to speak with you about your doubts, your ideas, process outlining or project implementation.

Now is the time to step up to the plate, now is the time to embrace the current economic situation and fly with your ideas.

Have a great day,

Heather Villa

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