Innovative ideas: examples
Innovative ideas and their implementation are a new trend of the 21st century in the field of business. Companies, businessmen, entrepreneurs are increasingly thinking about new sources of income, projects, looking for resources for their implementation. And in such cases, they often turn to what will be needed and profitable in the near future, which may become useful and in demand for society.
What is innovation?
The very word "innovation" prompts us to think that it has something to do with innovation, the future, new technologies, etc. In fact, this is a short definition of the word "innovation".
If you go into details and write a more detailed definition, then this is an innovation that helps to ensure a qualitative, quantitative increase in the efficiency of an enterprise, production, etc.
It's pretty easy to understand that the phrase "innovative ideas" refers to projects that are worth investing in both money and time. After all, later they will definitely pay off. New business ideas with an eye to the future will soon become relevant and in demand. You can make out a couple of the most interesting and promising ideas in the future.
Pure water from the sun
Water, and even from the sun, where is the logic, many people will say, but not everyone follows the "know-how" in the business world. Such a startup was recently proposed in the United States of America and has already begun its partial implementation. The Source device makes it easy to install it in a summer cottage and, thanks to the energy of the sun, get water. How can this work, many will ask?
The technology is pretty simple. A device similar to a solar battery collects moisture from the air, condenses it, turning it into a liquid. Thus, pure water is obtained, since in the process of condensation several stages of purification pass through the mechanism.
Our planet already has more than 7 billion people, there is less and less water for everyone, it is more difficult to clean it, and the rate of pollution is catastrophic. This device allows you to safely provide the house with water. Plus it is so economical as water consumption is reduced.
Power from the sun
Above we talked about generating clean water from solar energy. This is all in the near future, and now let's look at what has already entered our present, and will soon become more and more popular. Competition for innovative ideas often gives preference to environmentally friendly and economical, which is important, projects.
An innovative business is a type of entrepreneurship associated with the implementation of new knowledge, inventions, technologies. The result is the creation of new products that have no analogues, or the improvement of products already sold on the market. The goal of this work is to gain a competitive advantage. This may seem like a daunting task, but today Russia is creating favorable conditions for startups based on the promotion of new solutions.
The concept of innovative business
A number of similar concepts are used on equal terms: innovative business, entrepreneurship, innovation process and activity. These concepts are united by the following components: the commercialization of new knowledge and technologies, making a profit through the creation of technical and technological innovations, the dissemination of innovations, the transformation of a new idea into a commodity.
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Business innovation is the key to understanding these terms. However, innovation does not necessarily imply the introduction of a new product. Innovation can be associated with upgrading technologies that are already available. This is due to the fact that developing an innovative business rarely starts from scratch.
Sources of business ideas
There are many examples in the world of a bright start to entrepreneurial activity with the help of an original idea. It is both simple and difficult at the same time, since not everyone can find an idea for a business. Therefore, entrepreneurs refuse to introduce innovations and prefer already proven products: cell phones, household appliances, clothes, toys, and more.
However, the sources of new solutions are freely available. These are consumer testimonials that provide helpful advice on how to improve your company. Another source is market analysis and competitor products that you can either optimize or suggest a new solution. The Internet and IT, info-business and other developing areas are a wide field for introducing innovations into business.
Infobusiness is based on the sale of information. There is room for innovation in this area. Any expert information can become a salable product.
Methods for finding innovative ideas
Unusual business is, in the conditions of today's high competition in the field of customary services, an excellent way to build a company, which will have very few analogues, which means that the company will become recognizable in the market and truly unique.
How are unique business ideas born?
The most unusual business ideas, as a rule, come to the head of a "genius" spontaneously.
Usually it is connected with solving the problems of the person himself: so Victor Mills (Mills) got tired of changing diapers for his grandchildren and invented diapers.
Therefore, for those who dream of creating something unusual and in demand, the advice is simple: look around you!
What are you missing? To your family, friends, acquaintances? What do they dream about or what do you secretly desire? What can solve any problem?
Oleg Tinkov in his book "I am like everyone else" tells how he came up with the idea to build a dumplings factory. Those that were sold in stores, as soon as they left the counter, melted: as a result, the cooking turned out not to be separate, beautiful, even dumplings that we eat now, but some kind of porridge.
So he decided to produce his own, using imported technology of shock freezing, and even named “Daria” in honor of his little daughter.
This does not mean that success is possible only on a large scale: small business know-how is also developing now: the client is becoming finicky, the usual service and the same products have long bored him. Serve interesting packaging, creative design, non-standard services. And so unusual that I would like to share them (and this is already a topic of viral marketing, and from a completely different opera ...).
Coming up with an unusual product or service is half the battle!
Not every startup is successful. First, know-how business ideas often seem promising to young, inexperienced entrepreneurs. Secondly, young entrepreneurs do not always understand how to run a business correctly, how to successfully monetize a product or service that they have come up with. And those who understand - businessmen who have more than one year of this kind of activity on their account, or even own several businesses, become more prudent with experience and take on only time-tested projects.
Are you a bright entrepreneur looking for innovative business ideas?
Then you are in the right place.
We share 15 ideas that can turn into super successful, profitable companies.
This is not just a list of random business ideas. All of these suggestions are based on current market trends, which have not been overdone.
By adopting one of these innovative ideas now, you will be on your way to success before the market becomes saturated. There is something for everyone here, with business ideas that can grow or shrink as needed.
If you want to sell products online, drive a food truck, own your own store, or start a mail order business, the idea below is for you.
If you haven't heard of subscription boxes in your quest for innovative business ideas, then you've lived in a cave.
The basic concept is simple: a customer signs up for your service, then you put together a box of goods and send them to them - usually monthly.
Subscription boxes are based on themes such as games, stationery, or sweets, and the exact content of each box is a surprise.
This is a fun concept and you can see why it has become so popular.
Signature boxes are great for aspiring entrepreneurs because there are so many potential niches that have yet to be covered. Look for gaps in the marketplace and then apply the tried and tested subscription box business model.
Innovative ideas for small businesses
Introducing a new product is always associated with a high degree of risk, because the production process requires large financial investments. At the same time, the idea itself may turn out to be uninteresting to the consumer or with a short-term effect of popularity. That is why it is important that your product stands out from the crowd and has the potential for development, and that production facilities are easily adapted for other purposes.
In the modern market, the most promising in the field of production are ideas related to the release of gadgets, life hacking devices, natural and healthy food products, as well as waste disposal and their use as raw materials. To build a small business in this area, you can consider the following options:
- Production of universal carriers for large items. For example, in 2021, the Bull's Eye bicycle carrier appeared on the market, which works by analogy with a construction tape measure. It was invented by a Ukrainian entrepreneur and is now actively sold in many online stores for $ 40 per item. Using this idea and analyzing where such a device can still be used, you will easily be able to make the necessary additions and present a new product with expanded capabilities on the market.
- Manufacturing of transformable and built-in furniture. This idea is not new, but its potential is very huge and today it is experiencing a new surge in popularity. Working in this direction, you can come up with your own designs, as well as use completely new materials and style solutions.
- Recycling waste to create building materials and household items. To date, there is already equipment for small enterprises that makes it possible to make decorative tiles from PVC bottles, wood boards from waste paper, blocks for the construction of partitions from plastic bags and even roofing materials from diapers. But in the United States, a small production for the manufacture of dishes from fallen leaves was recently launched and, although this business is mostly seasonal, the products themselves are already in high demand.
- Creation of new types of food. The main reference point for the food industry is the search for technologies for the production of environmentally friendly and natural products, with their subsequent integration into the fast food industry. Also, a rather interesting topic for business is the creation of food substitutes from rapidly renewable resources without harm to the ecosystem.
What new business ideas can be implemented in the service sector
Service innovation is more about changing customer service delivery. On the other hand, this category of ideas for small businesses also includes fundamentally new types of services that change the way of life and outlook. The largest number of innovative proposals in recent years has been noted in the following areas:
- Funeral services. The lack of space in traditional cemeteries, especially in large cities, is becoming catastrophic, attracting the attention of innovative entrepreneurs who come up with all sorts of ideas, from new ways of burial in an environmentally friendly way, to technologies for storing ashes. So, for example, in Italy it was proposed to use vertical burial, and instead of gravestones to plant trees, turning cemeteries into memorial parks.
- Subscription services. The new format for providing subscription services is gaining popularity among domestic consumers, as it saves time and money. Initially, this model was used to sell goods, but today it is gradually being mastered by the service sector. For example, in New York, a network of city toilets has opened, which can only be visited by customers who have purchased a subscription, according to which they are provided with a special personal key. Another good option is storage of things on a Boxbee subscription, which involves a courier's departure to your home to accept various things for storage. The latter are packed in special boxes, sealed and taken out for storage at the warehouse. Similar services can be opened for cosmetic and hairdressing services, cinemas.
- New educational programs. A characteristic trend of the new era is the emergence of a large number of innovative educational programs for children and adults, aimed at developing professional and entrepreneurial qualities. Among the most interesting ideas: intellectual schools for teaching programming and creating computer games, visiting schools for choosing a profession, intensive refresher courses for teachers.
- Adaptive logistics and transportation. The advent of Uber was a revolutionary moment in the transportation industry. Today, this innovation can be easily scaled to freight transport and, in particular, the delivery of goods from online stores. This will make it possible to radically revise the principles of courier services, and, most importantly, increase the attractiveness of online shopping.
How to sell in the new format
The high level of competition in retail is forcing many small businesses to look for more modern and cost-effective ways to sell and present products. The most interesting innovative ideas for business in this direction are represented by the following list:
- Smart counter technology. It is the integration of modern information tools into the process of retail and small wholesale sales. This includes replacing regular price tags with QR codes, full self-service in stores, no cashiers, and the introduction of a contactless payment system.
- A store with a permanent stock of goods. If the product needed by the customer is over, it will go to your competitor and the chance that it will return is minimal. Therefore, smart systems for controlling the availability of goods on shelves and in a warehouse are one of the leading trump cards of trade. To solve this problem, more and more stores are opening in Western countries using the RFID system and its analogues. It provides for the complete equipping of all shelves and storage racks with special sensors that record the amount of goods. When the latter becomes critically small, the system automatically makes a request for the replenishment of goods and signals this to the service personnel.
- Stores with ready-made solutions. The rhythm of modern life is so intense that many customers do not want to spend time deciding what to cook and how to combine clothes with each other. Many stores, working on a completely new concept, volunteered to eliminate this problem. The goods are sorted and presented not by category, but by recipes (if they are products) or by Look images (if they are clothes). This enables entrepreneurs to solve two problems at once: to attract new and regular customers to the store, and also to increase the average check amount.
How to leverage progress in the entertainment industry
Starting an entertainment business is never easy, because the consumer needs to be convinced that they want your product. The most attractive in this direction is the opportunity to experience technical innovations, including the following ideas:
- Virtual reality systems. Today they are available only in the largest cities, and therefore their integration into the regions is a rather promising direction in small business. A distinctive feature of this idea is a relatively low threshold for entering the market.
- Esports. According to experts' forecasts, in the next four years about $ 900 million will be involved in this area at the global level. This opens up great opportunities for small businesses when creating local cyber arenas for holding tournaments.
- New generation online cinemas. Tighter control over copyright compliance and the increased demands of viewers who are already willing to pay for quality, lack of advertising and a developed interface open up new opportunities for movie theater sites. Thus, one of the priority areas in the entertainment industry is becoming online services for watching movies in 3D format and 4K resolution. At the same time, there is a trend towards subscribing to bundled services.