Innovating on purpose: Turning ideas into action for SMB success

In this episode of The Better SMB Podcast, hosts David Altena and Rob Bull break down the concept of innovation, distinguishing it from invention and explaining how SMBs can approach innovation purposefully rather than accidentally. They explore the challenges business owners face in prioritising innovation amidst day-to-day operations, the cultural barriers in New Zealand that stifle acknowledgment of innovation, and the importance of leadership in enabling and supporting innovative thinking. David and Rob share practical strategies to embed innovation into your business, focusing on proactive planning, ideation, and disciplined execution. They highlight the need for engaging teams, allocating resources, and maintaining transparency to foster a culture of continuous improvement. The hosts also discuss the significant value that even small changes can deliver, drawing parallels to historical examples like Toyota's production system, which thrived under constraints. Key takeaways include: •The five steps to intentional innovation: discipline, ideation, budgeting, action, and visibility. •Why SMB owners must make time to work on the business rather than just in it. •How simple tools like the Eisenhower matrix can help prioritise impactful ideas. •The importance of storytelling and transparency in encouraging team participation and sustained innovation. Tune in for actionable advice on how to turn constraints into opportunities and drive long-term growth for your SMB. Don’t forget to subscribe and share your thoughts on innovation with the hosts! —————— Connect with Rob and David on LinkedIn Rob Bull David Altena Learn more about Plexus Consulting and the mission Rob is on to make NZ the best place in the world to do business Download David's NBR-featured report "Boosting Productivity in New Zealand SMEs" by joining the mailing list on the Altena Solutions website and start your journey to a more productive business today