I focus on whatever that I'm doing now, but it's very, very important to stay relevant to stay on the cutting edge.

So what are some of things that you can do to stay innovative in business or in marketing?

Now you can see if you follow my work.

I'm always testing new ideas.

I'm pushing the envelope.

I'm coming up with new ideas.

Doesn't matter if it's an ad.

Doesn't matter a piece of content.

It doesn't matter if it's an iron man.

It doesn't really matter, right?

I want to incorporate different things.

I do, because in order to get attention from the market place, you don't want to be boring. 00:00:52.230 --> 00:01:5.270 Being boring is the biggest sin in marketing, because if people are not paying attention to even your message, they're not even paying attention to your brand and not gonna buy from your period, right? 00:01:5.500 --> 00:01:14.000 So what are some of the things that I do personally on whatever things I recommend that you could do to stay innovative number one.

And that is your friends Close.

But keep your enemies even closer.

You should know your competitors.

First of all, you got to know Who the hell are your competitors, right?

Who are you talking?

5 10 competitors.

Those primary competitors.

How well do you know the business?

How well do you know them?

What are their offers?

What changes are they making?

You should be on there milling this.

You should be on the e mail.

This.

You should be watching what they're doing.

Not because you could copy them, but because you want to know.

You wanna keep opposed?

What moves that I'm making, right?

You have to know.

So you have to observe and pay attention. 00:01:58.000 --> 00:02:0.390 You should know your competitors more. 00:02:0.390 --> 00:02:1.950 They know themselves. 00:02:2.540 --> 00:02:4.850 You should know what they're working on. 00:02:4.990 --> 00:02:6.250 What marketing initiative? 00:02:6.260 --> 00:02:9.430 They're doing One new product, a launching you have to keep. 00:02:9.430 --> 00:02:15.910 And I constantly so know that Hey, what are some things that you need to do within your company?

So you can be innovative number to understand the difference between being inventive versus innovative.

They're two different things because a lot of people they confused to being inventive, meaning that you invent a new thing.

A new idea, an original idea.

No one's ever seen this before, right?

It's a brand new figures revolutionary that's being inventive.

Now, some entrepreneurs, they do do very well.

They make a lot of money being inventive, maybe their inventors. 00:02:51.800 --> 00:03:2.500 But most entrepreneurs are actually more innovative, visiting, inventive, meaning that they are looking at what other people are doing and they can see. 00:03:2.500 --> 00:03:3.650 How can I make the connection? 00:03:3.660 --> 00:03:13.390 Ah, lot of people they say that I'm a great synthesizer on the great connector, meaning that I'm not the guy that comes up with breakthrough original idea.

But I'm very good at up serving ideas that works in what seemed to be industries that are not relevant.

And I'm able to make those connections say that's interesting, that works for this particular industry or that works with death, particular business that works for this sector that okay, maybe I can borrow that idea into this business.

No one's ever done depth before you think about example.

Think about the drive through example, right.

Drive through has been around a long time fast food.

You know what I'm talking about, right?

Well, it's on Lee.

After so many years, someone thought about Hey, you know what you could have to drive through for fast food? 00:03:56.100 --> 00:04:0.000 Why couldn't have dry through for banking this vehicle in the bank? 00:04:0.140 --> 00:04:2.090 You know so much all the time. 00:04:2.230 --> 00:04:3.100 They don't have to park. 00:04:3.290 --> 00:04:5.750 They just want to do a quick deposit or quick withdraw. 00:04:5.890 --> 00:04:9.740 Why not just put my card to do it in and out? 00:04:9.740 --> 00:04:14.180 I don't need to park line up with the bank and do all of that stuff from the bank's point of view.

More transaction, more transaction fees makes more money.

Don't ask many people.

It's only as many tellers.

There you go.

That's not an inventive idea.

Is not being old.

It's been around a long time, but someone saw them.

Then Someone is innovative enough to say there's something that we could do in Thank you.

Boom.

There you go.

That's a great idea.

Very, very profitable idea that's being innovative.

What do you want to do is to go out of the industry on dhe.

Look at other industries.

Example.

A 10 trey shows that are outside your industry treasures that has nothing to do with what you do and just see what people are doing. 00:04:54.920 --> 00:05:5.660 One of the things that I like to do is I like to read block post or articles, newsletters and magazines from industries that I know nothing about. 00:05:5.670 --> 00:05:11.410 I would pick up a gardening magazine like I would pick up a magazine on games.

I would pick up a magazine on something else on technology, just something that just totally out of the box.

Because how you gonna get out of the box idea by staying in the box?

You can't if you look at what everyone else is doing industry.

And yes, you wanna keep your enemies close by the same time you're studying things outside of your typical norm.

You're trying to defy conventional wisdom to find ways to do things that nobody's ever done in your industry.

That's how you create disruption.

You do that by feeding your mind with information and content that you don't usually consume. 00:05:49.990 --> 00:06:1.440 It's a very, very simple thing, and when you read those things, maybe you're like, I don't understand its OK, but something would hit you and ideas like, Well, that's interesting that's odd. 00:06:1.450 --> 00:06:5.010 Like I've never thought about that and then makes you ponder. 00:06:5.020 --> 00:06:7.590 Makes you think that's how you stay innovative. 00:06:7.600 --> 00:06:8.700 Number three. 00:06:8.710 --> 00:06:23.450 The best wake, The absolute best way to stay innovative and also stay relevant in business or in marketing is to hang out with other successful entrepreneurs outside of your industry.

Maybe go to that event, right?

Go to that association joined different groups me with them, talk with them, have lunch, have dinner here from them.

Ask about Hey, what are you doing?

What are you working on?

What are the new things you're working on?

You might get a new idea for a business model.

You might make that connection, or you might get a new strategy or a new process of doing something Those little golden nuggets.

You would not be able to get those things staying in your bubble by staying at home.

By staying in your office, you need to go out there and get them. 00:06:58.350 --> 00:07:3.260 And that's how you get new ideas that would take your business to a whole new level. 00:07:3.330 --> 00:07:10.570 I'm talking about that one elegant idea, and one elegant idea is better than 1000 lousy ideas.

One elegant idea that could completely transform your business.

So those are the three ways what you need to do to stay innovative and always remember, Just because you're doing well today, just because everything's is good today, don't let your guard down.

It doesn't take a lot for someone to come along and grab market share.

It doesn't take a lot for someone to steal customers from you.

It doesn't take a lot for consumers because consumers are very demanding their very unforgiving to say, Hey, I'm not gonna buy from you anymore.

I'm gonna buy from somebody else.

You've seen that before.

Companies from here pop off the game within a short period of time.

I'm not talking about decades. 00:07:59.350 --> 00:08:6.580 I'm talking about a few years, sometimes a few months from here to here very, very quickly. 00:08:6.770 --> 00:08:19.990 So it is your job as an entrepreneur, as a leader, to stay innovative, to stay on the cutting edge, to do what it takes to know what's ahead, what's coming, what's upcoming trends.