Basics like branding and team building should already be part of your business plan. You probably have some great ideas for marketing and networking. Hard work and good planning will get you ahead, but you need an edge that separates you from the competition. Often the most brilliant business ideas can come from taking charge of the most problematic issues.
#1. Cyber Security
Everyone in business is aware that network security is crucial. No one is safe, yet many smaller companies feel that they aren’t targets, or that a good anti-virus program is enough. It takes more than that. Companies should have multiple layers of security: firewalls, filters, encryption, intrusion detection, and more. But you could go beyond immediate concerns to assume a leadership role in business security.
One Gartner report says that companies spent $75 billion on security last year. Partner with security companies and take part in the initiative to share business resources in the battle against cybercrime. This creates the impression that you have a committed company that can be trusted.
Robotics technology is getting better and smarter, and more and more businesses are taking advantage of it. Considering the time and expense it takes to recruit, train, and compensate an employee, you may find an automated solution cheaper and more reliable.
Robots don’t get sick, take vacations, breaks, or holidays – and they won’t quit or make mistakes. They work 24/7 with greater consistency and accuracy than a human can. This improves margins and ensures quality standards. Robots also add another component to casting your company in the position of an industry leader.
#3. Content Marketing
One of the most brilliant business ideas that’s still under-used is the concept of content marketing. Most companies maintain websites, but they could do much more to build an online presence that markets for them. In an age of social media and internet searches, putting out valuable content can engage more of your target audience. It’s a very cost-effective approach that leverages the modern digital version of word-of-mouth advertising. Content marketing strategies should address:
- Search engine optimization (SEO)
- Social media marketing
- Public relations focused on social issues
- Effective pay-per-click campaigns
- Generating inbound links to your sites
Every company that buys materials and ships product is faced with a constant logistics challenge. You must find ways to maintain inventory and meet customer demand while saving costs and avoiding interruptions to the supply chain. Very few companies manage this as efficiently as they could.
Amazon is one of the stellar examples of logistics, and now they are on everyone’s lips as a pioneer in speedy drone delivery. One of the secrets of acquiring and retaining customers is not just customer satisfaction, but customer delight. The ability to deliver on promises and at lower cost is a big part of this. A focus on incorporating the latest technologies and services into your logistics can provide greater long-term value to your company.
In today’s competitive, digitally-driven markets, staying ahead of the competition is difficult but vital. It helps to create a culture of innovation within your company. Good ideas can come from anywhere, whether it’s refining your processes for greater efficiency or the next bold product design.
An open policy of collaboration and feedback can help to stimulate an environment where new ideas are freely exchanged. While it’s possible to be swamped with ideas, separating the good from the bad is often simply a matter of matching solutions to the most pressing problems, and following up with brainstorming sessions to weigh the pros and cons or stimulate further development. Encouraging your people to be creative will give you an endless flow of ideation.
There are going to be many concepts that could strike you as brilliant business ideas. None of it is foolproof – there are going to be struggles and likely some failures along the way and no one can do it all. The trick is to find the right strategy that clicks with your brand, your industry, and your team. Focus on being an expert in one area, and that alone can set your business apart.