Small Business Revitalization Blog

Creative spaces can help you think differently!
Photo credit: http://www.flickr.com/photos/osterwalder/

Many business owners spend exactly zero minutes per year on creativity and innovation.  Richard Branson spends, oh, probably around half of every week!  How many multi-zillion dollar businesses do you run? Do you think creativity and innovation could be worth just a little of your precious time?

So what can you do to make your business more creative and more profitable?  One technique I love for its simple but highly effective profit-generating capacity is to expand your product or service offering.

When I was 14 my parents bought a business in a beachside tourist village.  The bloke who previously owned it quietly said to my Dad… “I reckon you could add another 10 – 15 product lines, but that would be about the limit.”  The shop had around 50 product lines at the time.  My parents added another 500!!  Profits skyrocketed...It allowed us all to live very comfortably for many years…and it enabled my parents to sell the business for substantially more than they bought it for.

Are you limiting your thinking on how many product lines your business can offer?  Are you too tired to think of more?  Here’s three ways you can find new product lines with ease:

1. Research your (international) competitors online.  Often the US market is 1 – 2 years ahead of Australia, and developing nations are much more creative than we are because they have to be!  There are profitable ideas everywhere… you just have to look!
2. Research business trends and apply them to your industry.  Start with www.springwise.com and www.trendwatching.com and your ideas will flow.
3. Get out!  Listen to your clients – what other problems can you solve for them?  Go to trade shows – what’s new? Make networking events fun – do your research with people who are potential customers – what other products or services could solve their challenges?

Today's business coaching challenge:  Invest 20 minutes researching and find at least one new product or service idea that has the potential to add at least 10% to your turnover this year.

Want to know more about using creativity to generate profits?  Enjoy our FREE Teleseminar on Tuesday 15 September at 7pm (Brisbane) time.  Bookings Essential!

Internationally renowned local fashion brand Easton Pearson are celebrating their 20 year anniversary with a stunning exhibition at Brisbane’s Gallery of Modern Art.  The exhibition was amazing, but being the business coach that I am, what struck me most was the immense marketing value to the Easton Pearson brand.  

As well as the talks, tours and events for the exhibition, there were foyer and gallery displays, a children’s art activity centre (joyfully frequented by lots of ‘big’ kids who love playing dress-ups too!), extensive advertising of the exhibition by the Gallery, merchandising in the Gallery Shop and additional promotion everywhere you looked (even in the Gallery Café!).

Unless you pay big bucks, it is almost impossible to buy promotion, credibility and visibility like that!  Mediocre ‘me too’ brands never attract these types of showcase opportunities. The good news is that whilst you can't buy that type of exposure, you sure can build a brand that will attract it! 

So what needs to happen in your business for your brand to attract such opportunities?  Here’s my top 5 business coaching tips on building a phenomenal brand:

1. Your vision must be bold.
2. Your brand must be remarkable, original and desirable.
3. Your brand influence must impact your industry in unexpected ways.
4. Your brand must be sustainable and successful.
5. You must know the value of your brand and protect it – whatever it takes!

What will you do differently to build your brand from now on?  Share your inspiration in the comments below…

Now, at this point, many hard-nosed business owners will be thinking, "What do you mean creativity? Have you forgotten we're in a recession? Got better things to do with my time and resources!"  So, this is the moment when I’m going to ask you to forget your tunnel vision, and focus with total laser vision instead! I promise you won’t be sorry!

Marketing Guru Seth Godin says that “Ideas That Spread, Win”.  Now I bet you are thinking, yes, but my product isn’t interesting enough, isn’t innovative, isn’t new, isn’t….. whatever!

Just because what you are selling may be “boring”, does not mean you or your company should be! So, if your business was offering something boring, say a blender, what could you do to make people take notice of your offer? Take a look at this...



Is it cheesy?  Sure!   Is it cheap advertising? Well how would you like to spend $50 on props, make 5 ‘homegrown’ videos and get over six million views on YouTube within one week? BlendTec make the world’s best blenders, but until they thought creatively about their marketing, no-one knew! 

Is it worth starting a creative revolution in your business? Well, as business owners and managers, you know that results are where the rubber meets the road.  Since the introduction of the videos:

• Overall sales increased 43% in the first six months;
• Blendtec's consumer sales increased 500% in 2007;
• Website traffic increased 650%;
• The extended ‘Will It Blend’ campaign has received over 100 million views on YouTube;
• The campaign provided a breakthrough in market segmentation – previously the company was primarily a commercial blender manufacturer;
• Marketing department is now a profit centre for BlendTec!

So, what can we learn about combining creativity and marketing?

1. Be compelling, be quirky, be different.
2. Be entertaining, be surprising.
3. Be willing to experiment.
4. Solve a problem or provide proof your product works.
5. Create a personality for your business.
6. Be prepared to leverage your success.
7. Use social media to your advantage!

Creativity is about culture.  What can you do to encourage creativity in your organization?