Innovative Business Strategies For Software Firms

Discover Ways To Enhance Your Business

Business-Growth-StrategiesSoftware companies often forget to look at internal innovation when considering business growth strategies. Understanding how your research into new technologies going to be included in new products is a key part of growing your business.

It all starts with establishing research teams or individuals within your software engineering group who have the task of finding new innovative ideas. This can incorporate new technologies are bleeding edge software concepts that may prove useful and creation of your own product range read key element is that these individuals need the time to do this research, test out the concepts using prototypes and flesh out how can be used within your own product range.

The work the research teams do will however still have to be carefully planned. It is essential that research work is producing enough ideas and innovative concepts for your new product ranges in six months, 12 months, two years. If this is not done properly then you will not have enough new feature ideas/product ideas to keep the company going. Your product innovation strategy should be constantly looking at how to improve and incrementally change your products to suit customer demands.

Finally, the work of research teams still has to be communicated amongst the group. Business growth strategies need to establish what the communication channels are going to be from research teams to engineering. In small companies this will be obvious thanks to the fact that research is often work within existing engineering divisions. However your business growth strategies need to consider the fact that researchers may become separated from engineering and therefore proper communication channels, chains of command, prototyping specifications and architecture boards may need to be established to ensure the correct transference of ideas.

Don’t forget also that communication should be a two-way channel and feedback from engineering, customers and marketing should also feed back into research as possible new product concepts or ideas.

3,129 thoughts on “Innovative Business Strategies For Software Firms