Adapt your entrepreneurial abilities

Interested to learn about the importance of innovation in business? Raymond Taggart visits the beautiful Kondalilla National Park in the Glasshouse Mountains to share some insights into the topic.

“I recently visited the beautiful Kondalilla National Park in the Glasshouse Mountains in the Sunshine Coast hinterland and did a 4km trek around the gorge. It was obvious that this place had been there for thousands of years with the flora and fauna having adapted to the changing environment in order to survive and thrive.

This got me thinking about the parallels with running a business. To run a successful small business requires a degree of entrepreneurial ability and there are a range of skills required to prosper in this area.

The Fundamental Skills & the Importance of Innovation in Business

In my opinion, there are a number of fundamental skills that I believe every successful entrepreneur has in common:

1. Innovation

For me this is the number one skill: the ability to not only identify changes in the business environment but to respond and adapt accordingly is critical. To survive in business over a long period of time requires us to be innovative, plan for the long term and to be able to transform over time.

2. Resilience

Things don’t always go to plan. There are always going to be ups and downs in business but our capacity to bounce back from difficulties is one of the cornerstones of a successful entrepreneur.

3. Learning

We don’t know what we don’t know but the desire and ability to stay up to date with new systems, technology and industry trends and be open to constantly learning new things is absolutely crucial.

4. Focus

There are so many things demanding our attention on a day to day basis that this can often be hard to master but our ability to stay focused on what is going to move us towards our ultimate goal is critical.

5. Resourcefulness

Finding quick, clever and creative ways to meet challenges and overcome issues goes hand in hand with the ability to innovate.

Just as in our natural environment, small business owners can’t afford to stagnate. Innovate or die, as the saying goes.”

For more quick tips to help your small business, be sure to check out Taggart Tips by clicking here.

Interested in learning more?

Interested in learning more about the importance of innovation in business or need any advice specific to your personal circumstances? Get in touch with the business advisory services team from Taggart & Partners on (07) 3391 1188 or email us on info@taggartandpartners.com.au today!

Updated 20/01/2021