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Powering Your
Business
5 Big Ideas:
Powering Your Business
Your team is probably fired up about grabbing more market share
this year. But if you want to achieve that goal, its time to look at
your operation through a fresh lens. There are some great ideas
brewing in the global community that will help you outdistance
your competitors.
To feel the power of what big data can do immediately for your
business, try SizeUp (http://www.sizeup.com/). Within seconds,
this free site will tell you how many competitors exist in a specific
locale, how your revenues stack up against theirs, and where to
hunt for new business.
Reverse innovation
Its time to forget the days when innovation flowed one way
from rich nations to poor ones. Theres a lot we can all learn from
entrepreneurs and organizations working with scarce resources,
For instance, while a says Dartmouth professor Vijay Govindarajan. He points to a
general hospital typically hospital in India that specializes in heart surgeries, achieving bet-
ter outcomes with its $2,000 procedures than U.S. hospitals that
needs to buy a vast array
charge $20,000 or more.
of equipment to perform
How does the hospital get such amazing results? By specializing in
every operation under a niche, it runs more efficiently. For instance, while a general hospital
the sun, this hospital typically needs to buy a vast array of equipment to perform every
operation under the sun, this hospital needs equipment only for
needs equipment only for
cardiac operations. And it gets a great return on its investment in
cardiac operations. the equipment it does buy, because it puts these tools into service
all day long.
Expect to see this idea coming soon to the shores of the U.S.
Meanwhile, we all need to comb the globe for other ideas from
the worlds most resourceful innovators in our industries.
Newsjacking
In todays teeming marketplaces, you need a savvy approach to
public relations to stand out from the crowd. As marketer David
Meerman Scott points out in his book Newsjacking, you dont
have to bankroll a massive PR campaign to propel your company
into big news stories.