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How to Innovate and Grow Your Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9 pm ET.  This is excerpted from my recent interview with Michael Haynes who is a B2B Strategist that helps small businesses grow using customer-driven strategies.  He is also the author of Listen Innovate Grow to help small businesses drive growth through B2B.  For more info: SmallBizlady:  Why should Small business owners pursue business-to-business (B2B) markets? Michael Haynes:  B2B markets have fewer competitors which can make it easier to exploit their weaknesses and gaps in their offerings. Also, usually once business customers find a product or service provider that meets their needs they usually become very loyal. This is because the product or service often serves important purposes such as helping to meet strategic objectives or being a key production input. And finally, large companies are recognizing the benefits of working with small business owners such as getting products and services that are better tailored to their specific needs as well as their willingness “to go the extra mile” for their clients and customers. SmallBizlady:  WHAT IS THE STARTING POINT FOR A SMALL BUSINESS IN DETERMINING HOW TO INNOVATE? Michael Haynes:  The first thing small business owner must do is to obtain an in-depth understanding of the industries, markets and business customers that they are focusing on. In terms of the markets and industries, you want to gain an understanding of the market trends such as new technologies, customer trends, legal and regulatory changes both within your current industries and markets as well as adjacent ones. Small businesses owners also want to understand their business customers and prospects in terms of their objectives, priorities and strategic intent. However, you must understand the key characteristics and dynamics of B2B markets. By doing so, you will be able to identify opportunities to innovate which will help small businesses grow their business. SmallBizlady:  HOW SHOULD SMALL BUSINESSES VIEW THE CONCEPT OF INNOVATION? Michael Haynes:  Small businesses must regard innovation as being more than simply creating new products or…

Who’s on #Smallbizchat August 2018

#Smallbizchat is a weekly conversation where small business owners can get answers to their questions. The focus of #Smallbizchat is to end small business failure by helping participants succeed as your own boss.   Please join us live on Twitter every Wednesday 8-9 pm ET. Here’s how: follow @SmallBizChat on Twitter and follow the hashtag #Smallbizchat and click here for directions to join the weekly conversation.   In August, we will be talking about branding, addressing #MeToo in businesses, and join us on August 15th, we will be hosting #Smallbizchat LIVE on Twitter, Facebook, and YouTube, about the following topics:  love and business, profitability, and business networking. Here is a list of who is on #Smallbizchat in August: August 1st – How to Turn Your Business Venture into an Admired Brand, @finieninsights Fabian Geyrhalter is a renowned Brand Strategist and the Founder and Principal of FINIEN. He is the author of Bigger Than This.  For more information, visit   August 8th – How to Innovate and Grow Your Business, @2Excellyourbiz Michael Haynes is a B2B Strategist that helps small businesses grow using customer-driven strategies. He is also the author of Listen Innovate Grow to help small businesses drive growth through B2B. Learn more at   August 15th – #Smallbizchat LIVE on Facebook How to Balance Love and Success in Your Business, @charreah Charreah K. Jackson is an international speaker, coach, and ESSENCE Senior Editor, empowering the brand’s global audience of 13 million.  Charreah is the author of Boss Bride: The Powerful Woman’s Playbook for Love & Success. Find out more at Creating a Permanently Profitable Business, @mikemichalowicz Mike Michalowicz is the author of Profit First and other popular business books. Mike is an author, podcaster, speaker, business columnist and tv host.  Learn more at   How to Leverage Your Network for Warm Referrals, @BrynneTillman Brynne Tillman is an Amazon bestselling author of The LinkedIn Sales Playbook: a Tactical Guide to Social Selling. As a career sales professional herself, Brynne bridges the gap between traditional sales, networking, and social media.  Learn more at   August 22nd – How to Address #MeToo Issues in Your Business, @hracuity Deb Muller is the founder and CEO of HR Acuity,…

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