Tactical Innovation

Tactical Innovation – Innovate or die! As an entrepreneur you need to be able to read your particular industry to see what the trends are and adjust accordingly. You are not able to sell what you want to sell, but rather you can only sell what people want to buy from you.

Entrepreneurs go into business because of passion and it is linked to earning money from doing what they love. However sometimes they can become too attached to their service or product and fail to notice the changes within their own industry until it is too late and tactical innovation maybe too late to save them.

In my laser business for example, when I first moved to The Philippines I was the only person offering laser services. I controlled the market and all laser hire went through me. Take me or leave me!

Now 8 years later, the cost of lasers has dropped because the Chinese imports are flooding the market, clients’ budgets are being cut and the need for high quality has gone done. Now some of my customers have actually become some of my biggest competitors.

Tactical innovation is needed.

If you have read the book “Who Moved My Cheese” you know that if I sit around and wait for the cheese to be there every day even in a changing economy – very soon the cheese will be gone and so will I.

Tactical innovation is a must.

I need to let go of the way I am doing business and find a new way. I can still be involved in lasers, but I need to shift and create a new market again so that there is no competition. This will give me another couple of years until my competition sees what I am doing and then copy me again.

Tactical innovation is a never ending on-going process that must be monitored constantly and being able to let go of your product or service is an absolute must in order to shift markets and survive in business.

No matter what you are doing always have a back up plan and get ready for your business war known as tactical innovation.