Are you innovating or just chasing a shiny new object?

For the last two Business Sisters networking events this spring, we’ve been innovating with a new format for our participants. Based on feedback from a few of our more introverted entrepreneurs, we added a component whereby attendees divide into groups of 6-7 people.

After basic introductions, each person answers a question like, “What motivated you to start your business?” or “What target market do you serve?” Participants are asked to keep their answers brief so that everyone has a chance to speak within the allotted 20-25 minutes.

The feedback is in, and (to our relief) these small group conversations are a hit!

That’s Innovation! 💡

You may wonder, why change what seemed to be a winning formula? Especially if the change is to accommodate just a few folks, isn’t it risky? Good question!

Changing anything is always a risk. The good news in this case is that our extroverts loved the change too. But staying put is also a risk. For Business Sisters, innovation is a must; if you don't change things up, you could be left behind! In our case, our audience could become bored, or annoyed that they weren't getting time to get to know people at a deeper level. Plus, I believe it's important to MODEL the behaviour we want to see in our Business Sisters -- we want them to be innovative!

Secondly, you may not think what we did qualifies as “innovation.” After all, we just changed something in a meeting format. But whenever you tweak something in a business model, a service, or a product, you ARE innovating! Especially if it’s to make the experience more enjoyable for your clients. According to several studies found in the Women Entrepreneurship Knowledge Hub, this is something women business owners do particularly well.

But how does one know when it's true innovation and not just chasing a new shiny object?

Ahh… those shiny objects. Sometimes as entrepreneurs we get distracted. Or we distract ourselves. It may seem like innovation, but is it, really? Two examples come to mind:

Pretty Colours Will Bring More Business – Won’t It? 🎨

Sometimes entrepreneurs change things up because they are avoiding a deeper issue. We have ALL done it!

One example of avoidance behaviour was described perfectly by Denise Duffield-Thomas in her latest book, Chill & Prosper. She calls it "procrasti-branding." That's when you obsess over your logo and fuss over color palettes – and resist facing more pressing issues, like:

• Is your product hitting the mark?
• How are you distinguishing yourself from other businesses in your space?
• Are you really getting out there to make more sales?

Because shiny new colours aren’t going to help you make that much more revenue if what you are selling isn’t up to par or if you aren’t effectively asking for the sale. 📈

Shiny Courses that Distract ✨

Another avoidance behaviour is “course-hopping.” Instead of dedicating more time to sales and marketing (the real money-maker), we sign up for yet another certification. We somehow convince ourselves that we NEED a new diploma on the wall for customers to do business with us. Is that "upgrading" or avoidance? Does the customer really know the difference? 😬

Don't get me wrong; rebranding and upgrading skills are perfectly legitimate business practices. AS LONG AS we are clear about the investment and the return we hope to achieve. And that we are not avoiding the real conversation: earning a fair and decent income in our business.

I have seen those avoidance behaviours and been tempted by those shiny new objects myself plenty of times!

The Antidote? 🌿

Do you know what may be an antidote to all of that? Studies show that an accountability partner can make a HUGE difference in an entrepreneur’s life. This is literally having someone who knows us well enough to call us out on our BS… Do you have that? If so, lucky you!

I’d love to hear your perspective on how you handle changes in your business and avoid shiny new objects. Use the comment box below and let me know! 🗣️🔍

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