Daily Money Minute

Fotolia_54867638_XS_7“Pretty much, Apple and Dell are the only ones in this industry making money. They make it by being Wal-Mart. We make it by innovation.” ~Steve Jobs

This observation by the late Steve Jobs is a little dated now but it does contain an underlying kernel of truth. Business is all about solving problems for people, or at least it is if you want to make money. Whatever problem you’re trying to solve, the chances are that there is already a product on the market designed to offer a solution for that problem. However just because a product exists that doesn’t mean there isn’t a better way to solve that problem. As the old saying goes, build a better mouse trap and the world will beat a path to your door. Innovation is the way your business can stand out in the crowd. Clever products, well designed, providing great value for money. Few companies are better at innovation than Apple. They are a real inspiration to us all. If you’re in business, look at products in your niche currently on offer and see if you can improve on them. People will tell you that it’s the early bird that gets the worm but the second mouse is the one that gets the cheese. It’s never too late to produce a new design for an existing product.

© Roy Sutton and Mann Island Media Limited 2013. All Rights Reserved.

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