By Debbie Gregory.

Everyone has a different idea what the word innovation truly means when it comes to business.  To some it is inventing something that never existed before.  To others, it is an evolution or upgrade to existing products or services.  Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay.

In business, innovation often results when ideas are applied by the company in order to further satisfy the needs and expectations of the customers.  There are some innovation myths that actually hurt progress more than they help.

The Top 5 Innovation Myths that can Hurt Your Business:  

If You Build It, They Will Come:

Regardless of what the innovation, it simply will not sell itself. Sitting around waiting for customers to flock to you, without doing anything else, will kill even the best business ideas. Customers have no clue how amazing your product or service is unless they are told how amazing it is. This means that a business owner must invest in building the company’s brand, its marketing, and its following.

Shooting For The Moon:

In general, reaching too far too fast can create a whole plethora of problems. Though there are some projects out there that really went for the moon, such as like Apple’s iPhone or Google’s search engine,most projects that are too ambitious will ultimately fail. It is best to take a more conservative approach and focus on ambitious that are ultimately achievable projects.

Allowing Customers to Drive Your Innovation:

Listening closely to your customers and implementing improvements based on their feedback can dramatically help your business grow.  With this said, do not rely on customers to create new innovations. Customers generally don’t bother to try imagining a different future or new improved products.   They simply want a good quality product at a good price.

Relying on Your Team for Innovations:

Regardless of your industry, your vision MUST come from the top. It doesn’t matter how smart or capable your designers, developers, and engineers are, they need to be led by those in charge. The company’s leaders, the C-level people in the organization, need to empower their team with visions of what is to come. Your team is there to support your dream, not the other way around.

Innovation Requires Expensive Tech:

Simple solutions are often the best ways to solve complex problems. You should be able to summarize what you would like to solve in a sentence or two.  Then you need to consider the easiest and most cost-effective method to achieve it. If the solution involves fancy tech, great. Just remember that your innovation needs to be accessible in order to be profitable. Keeping it simple makes a great deal of sense.

Innovation isn’t easy but if you believe these myths it will be a whole lot harder!

By Debbie Gregory.

Using social media for business is not the same as using it personally. One insensitive post has the potential to ruin your business with negative coverage and a public backlash.

These are some of most common and damaging business social media mistakes:

Never build an audience that does not fit your ideal customer:

Your social media efforts should be focused on targeting your ideal customer and not those that don’t fit that profile.  Those managing your social campaigns must have a clear understanding of who is your ideal customer.  They need to execute a strategy that will appeal to and attract this specific group. Do not sacrifice your company’s overall marketing strategy for a few likes or shares from the wrong people. Doing so, will not generate revenues for your company and can generally harm to your reputation.

Never let an intern or consultant have free reign over your accounts:

As an established business, you have already spent time building your brand, your message and the proper tone for all your business marketing. Do not allow a temp ruin all your hard work with a bad post or poor idea. If you cannot handle your social media in-house, make sure that whomever you hire, has very specific guidelines on how to post for your business. Additionally, it is a good idea to make sure that you are the administrator and manager of all of your accounts.

Never delete bad reviews or complaints:

It doesn’t matter if the review or complaint is unfair, you do not want to remove it. Hiding negative feedback makes your company look like it is hiding something larger. Instead, use complaints as an opportunity to publicly fix problems. Just make sure that you are respectful and kind in your responses. Negative feedback coupled with a positive public response from your company can actually benefit your business.

Never ever argue or attack:

Complaints do happen.  Customers are occasionally unfulfilled by your offerings, or a customer can simply be having a bad day and your company ends as their target.  Do not under any circumstances publicly argue with or attack a customer. If you need to have a full discussion with an upset customer, always provide them a contact number or email address so that you can resolve the issue privately.

Never let pre-scheduled posts continue after a crisis:

This makes your company appear extremely insensitive. Cancel or postpone posts until a respectable amount of time has passed.

Never neglect the “voice” your company has carefully cultivated:

Your company’s online personality has been carefully crafted.   After you identify your ideal customer base, make sure your message appeals directly to them. Make sure that your posts will engage the right people with the right voice and message.

Never limit your posts to just promotional content:

You are a business and you are looking to sell something. Everyone knows that. Everyone is constantly bombarded with marketing messages that can become very annoying.  Mix it up with posts that are fun or more personal making sure they fit your company’s brand and ideal customer.

Never forget the purpose of the platform:

Social media is called SOCIAL for a reason. Ask questions, solicit feedback, and make sure to answer questions and comments directed to your company.

Never misuse a hashtag or meme:

Using trending hashtags is a great plan but only if these hashtags relate to your business. Don’t use trending hashtags or popular memes to attempt to insert yourself into a discussion that has nothing to do with your company.

Social media is a fantastic tool for building and interacting with a loyal customer base. It also helps your company stay relevant in today’s fast changing consumer landscape. However, the wrong moves can significantly damage your business and brand.  Do not allow these social media fails to create liability for your business when the right kind of meaningful social interaction is easy to do and offers real benefits for your business.

By Debbie Gregory.

“A good plan, violently executed now, is better than a perfect plan next week.”

~ General George S. Patton

It can seem like all the good business ideas are already taken but there has never been a better time to start a business than right now. Actually” the getting started part” is the hardest part for most people. So the question is how do you get from zero to one?

Don’t over plan.

The temptation to spend inordinate amounts of time planning and outlining every single tiny detail to formulate the perfect business plan is real but don’t fall for it!  While planning is obviously important, you don’t want to get stuck before you have even begun. Additionally, once you start your business, your carefully crafted plans will be forced to change over and over again. First put get your early thoughts and important plans down on paper including a realistic concrete start date for your business. Next action is key so launch your plan.

Just do it!

Your first attempts at your new business regardless of the type of business you start may be a bit awkward, but you need to get out there as quickly as possible. Early is a lot better than perfect. As you journey along with your business, you will have multiple opportunities to nail down all the specifics in your sales, marketing, projects, offerings, employees, branding, websites, social channels, and so much more. All these things will evolve over the life of your business.   Nothing is set in stone to truly build a successful business. Be prepared to work hard, fail a bit, and learn a lot from your successes and failures.

Hustle!

Your beginnings will be more humble and awkward than you can ever imagine. Never be afraid to get out there and hustle. Don’t expect overnight success either. You will gain so much knowledge about yourself, your market, your ideal customer and more by getting out there and simply doing it.

At every stage of your success you need to be laser focused on moving forward as quickly as possible. Action is the key to getting from zero to one. You will not move your business forward by sitting on the sidelines waiting for it to fall into your lap. Take a chance and make that leap of faith! You will only regret the actions you did not take.

By Debbie Gregory.

Some of the most important decisions that a  Veteran Small Business Owner can make are whether or not to bring in a business partner and who is the right partner?  You want to find someone who shares your vision and focus.   Additionally, someone you are in sync with and can grow the business.  Your business partner also must be someone who you can depend upon and who will carry their part of the workload.

Choosing a business partner is like getting married and you must be as discriminating as when choosing a life partner and/or spouse.If you want your business to grow and be successful, you must choose the right partner and choosing the wrong one can spell disaster. Remember that it must be someone who will be in it for the long haul because the path from turning a business idea into a viable business is a long journey.

Below are a few good questions when interviewing a partner to determine if he or she is the right fit for you and your business:

Do We Have a Personality Match?

Chemistry between you and your business partner is essential along with being compatible.  Make no mistake, this is one of the most important relationships in your life.  This relationship will determine your security and your day to day satisfaction in reaching your goals.  You must make a connection to be part of successful team.   You need to be able to to work together in both good and difficult times.   You need to be able to solve problems and  overcome challenges.  You need someone who can acknowledge when they make mistakes, take responsibility and be willing to fix them.  You also will be working together for many years so you should select someone that you will enjoy working with and respect over the long haul.

Does He or She Complement You?

A good team is composed of players who complement each other with different talents, strengths and weaknesses.   Your partner should be someone who will bring some of the skills and talents you lack and balance what your business can offer.   If you are technical but not great with people, choose a partner with strong people skills.  If you are a numbers person then find someone who can look beyond the numbers.  Business partners should complement each other.

Does He or She Share My Passion?

There are a boatload of challenges in running a business.  You need time and money and a lot of work.   There will constantly be problems to solve and you will need to protect your business too.  What drives you is your passion and energy.  This is what moves you forward especially during difficult times.

Your partner must share the same passions and drive.   Shared enthusiasm is the fuel of ambition and success.   Ask your potential partner(s) what motivates them about your business idea,   Ask them where they see things one year, five years and ten years down the road.  Learn what they are looking for in working with you.  They should share your fire and passion for what you are doing.

Will He or She Be Able to Challenge Me When I am Wrong?

In real life and in business, no one is right all of the time and we all make mistakes.  You might come up with a poor idea or a direction that will not work for your business.  We all have blind spots and they can be highly detrimental to your business.   You must select a partner who will speak up and challenge you when he or she believes you are wrong.   They must be comfortable in their own skin and ideas and be able to speak up for the good of your business.

How Much Will He or She Give to the Business?

You must choose someone who will put in the work so that there is an equal division.  You need a partner who can and will contribute ideas, time, contacts, resources, capital, passion and energy.  Someone who gives fully of themselves because they share your dream of success.  You want a partner who is “hands on” so your success will be a mutual one.

At the end of the day even if he or she hits all the boxes and answers all your questions perfectly, take the time to check references.

By Debbie Gregory.

This Monday, November 11^th we celebrate Veteran’s Day.  I am the proud daughter of a Veteran who made the ultimate sacrifice and served with seven of his brothers.

I believe that the word “Veteran” needs to be expanded to celebrate all the men and women who serve, past and present, every day of the year in all the uniformed services.  They make incredible sacrifices so that the rest of us can live and prosper.   They are true patriots and write a blank check up to and including their lives.

Those that sacrifice so much include every man and woman who has served or is serving in our Armed Forces and Uniformed Services.  These include members of the United States Army, the United States Navy, the United States Air Force, the United States Marine Corps, the United States Coast Guard, the United States Public Health Service Commissioned Corps, the National Oceanic and Atmospheric Administration Commissioned Officer Corps.  Our United States military men and women operate in more than 10 countries too.

We must also honor our citizen soldiers who serve in the United States National Guard and Reserves and deserve to be honored as much as our active duty and Veterans.

Many people don’t know that those who serve in the National Guard and Reserves can and do dual duty.  They usually work in a civilian job and can be called upon in their home states, but they are also activated and deployed overseas to the Middle East and other countries.

A huge percentage of our currently deployed military are members of the National Guard and Reserves.   These citizen soldiers and their loved ones don’t have the full support system that is provided to regular military stationed on military bases.   Being citizen soldiers, they also face huge financial challenges to serve and are often underemployed.

On this Veterans’ Day, we need to include everyone and think of ways we can do better by them.   Many are not receiving proper healthcare or must wait too long for it.  Wellness, especially mental wellness, must be a priority especially with so many Veterans committing suicide.  One size does not fit all when it comes to solutions.  We need to work together to find solutions for everyone and dedicate ourselves to those doing more for who have sacrificed so much for us.

On Monday, November 11th and every day, think of doing a small random act of kindness that can make a huge difference.  It can be as simple as volunteering at a Veterans home or doing some “honey do” things for the spouses of deployed Veterans or helping coach or tutor their kids.  It might involve donating money or goods to a Veteran charity, driving a Veteran, or just telling a cashier that you want to pick up a Veteran’s tab.    We are losing almost 2,000 Veterans a day from “the Greatest Generation” and preserving and listening to their stories and memories is part of our history.  You might find that supporting those who serve enriches your life too.

Be there for those who serve and have served because they are and have been there for all of us.  Never forget them and remember, there is more that unites us as Americans than divides us.

Debbie Gregory

CEO – VAMBOA, Veteran and Military Business Owners Association

Vice-President & Producer, “America Salutes You”, a nationally televised annual concert

Director of Employer Engagement, California ESGR