In this insightful episode of the Grow Business Podcast, hosts Cory Mosley and Lon Graham dive into the critical role of innovation in driving business success.
They explore how outdated technology, shifting customer expectations, and stagnant growth signal the need for change—and why failing to evolve can leave businesses behind.
The discussion covers real-world examples, including the decline of brands like Sears and Kmart, to highlight the dangers of ignoring innovation.
The hosts break down the five pillars of business growth—mindset, sales, marketing, operations, and people—and how strategic innovation in these areas can propel companies forward.
They also tackle the impact of technology on customer and employee experience, emphasizing how outdated systems, like dot matrix printers, create inefficiencies that hurt satisfaction and productivity.
Employee engagement is another focal point, as they reveal how high turnover and low motivation often indicate deeper business issues.
To help businesses navigate innovation effectively, they introduce the concept of an "innovation filter"—a checklist to evaluate new ideas and ensure they align with long-term goals.
The episode wraps up with actionable insights on how to embrace innovation strategically, avoid chasing trends without purpose, and create a sustainable competitive advantage.
Main Takeaways:
Credits:
Want to ensure your business stays ahead of the curve? Tune in now for expert insights on how to innovate with purpose and drive lasting success! 🎧🚀