Innovative solutions are vital in a tumultuous, fast-changing, and challenging marketplace. As optimism grows and the pandemic wanes, companies can rebuild.
However, business must anticipate and address the everchanging needs of their customers, quickly and effectively. Technology must play a leading role and it must be innovative to spearhead change.
Innovation Keeps Business Relevant
Undoubtedly, the pandemic showed business that speed and disruptive technology are essential to longevity and ongoing success. Companies must respond quickly to whatever the market throws at them and things can change in a flash.
Regrettably, many businesses weren’t able to handle this rapid change over the past few years. According to Meta’s March 2022 Global State of Small Business report, about one in four small businesses around the world closed due to the pandemic.
Of course, the pandemic impacted every business regardless of size due to rapid change. Still, some companies proved it is possible to move away from old traditions towards better, more agile alternatives. These companies continue to thrive.
Success is Possible
Retail services are an example of how innovative solutions can help companies adapt. For instance, Amazon minimized supply chain interruptions by chartering ships and leasing planes. They strengthened their online offerings and tapped into new markets.
Other retailers such as Walmart and Sears stuck to their old business model. Since they didn’t adapt to lockdown quickly or adeptly, they are still trying to catch up with the industry leader.
Moving forward, companies must continue to reinvent themselves for sustainability and growth. Old business models, products, and services must morph into new offerings, sometimes unlike anything seen before.
More Focus on Innovation Essential
Undoubtedly, it almost impossible to do business without technology today. It is part of almost every aspect of a company, from assessing markets and making projections, to marketing and delivering products and services.
However, old technologies may not deliver what a company needs today. Still, many companies rely on existing resources.
Increasing productivity, cutting costs, and keeping the business afloat doesn’t identify or address core problems. The marketplace has shifted and they must invest in innovative solutions that transform their business. Whether this is augmented reality, AI, or other innovations, change is essential.
Innovative Solutions Speed Change
Speed is of the essence in our tumultuous global market. Those that create new business models, products, and services can set the bar for their industry. Those that choose new technologies that speed the process also have a competitive edge.
However, many companies waste precious time as they test new ideas, and fail. Luckily, innovative solutions are already within reach. Business can draw on a broader talent pool that has already found solutions to countless problems.
By connecting business to innovators and expertise, business can solve challenges quickly and ensure ongoing agility in a turbulent market.
Creating a Roadmap for Change
Some companies know which areas they need to address, but don’t have the resources to implement change. Others struggle to identify the pain points in their industry, never mind a solid approach to solving these challenges.
Fortunately, EarlyBirds provides both resources and direction if your company needs to create a roadmap for change.
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal for Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
Early Adopters can search and buy innovations based on their industry business functions and business outcomes within the EarlyBirds platform. This ecosystem currently has a data pool of over 4 million global innovations that may already address your business challenges. For unique needs, Early Adopters can list their Challenges in the marketplace and request solutions from Innovators.
EarlyBirds also offers several programs which directly connect Early Adopters with Subject Matter Experts and independent consultants. This can help them define and resolve challenges, evaluate innovators, and create a roadmap for the path ahead.
The Explorer Program is tailored towards businesses who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
The Challenger Program focuses on a single business or technical challenge. It looks for the most relevant innovators that meet business, technical, commercial, and business risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who collects requirements then searches the big data pool to identify and curate solution options to be evaluated in greater detail. After a suitable Innovation is identified the SME will draft roadmap of options for the next steps, for POC, trial or implementation.
EarlyBirds is your best choice for innovative solutions and new opportunities. We’re highly experienced in many sectors including energy, including renewables, operations & maintenance, and more. Let us help you create the innovation culture your business needs now and in the future.
Register at https://earlybirds.io/, or contact us to discuss your needs. We can help you resolve business and technical challenges quickly to improve all business functions.