“That is how it has always been done”
I know! But spare a few minutes to hear me out.
I have always considered myself an innovative person. I have always thought I was innovative, and if you know me, you would also agree. But even if you are not innovative, you too can be… if you want!
So what does it mean to be innovative? What is the meaning of innovation?
Innovation is finding new solutions, to old or existing problems. That is the simplest way I can explain or define it. And I expect that by now, you get how this all ties up with the title of this article. Yea?
Now I know that things work so well for you at the moment. But… could it be better? Do you ever ask yourself that question? Could it be better? I know I do, and I ask that question quite often. If you do not, then you start asking yourself that question more often.
An Example of Innovation
In the year 2011, the major seller of VoIP vouchers on campus was graduating. After graduation, he planned to move elsewhere on the island. I benefited from his services and I wanted it to continue, after he leaves. So I considered taking over the business from him. But he tried to discourage me because he wanted me to retail under him.
He said the profits were very little, as he explained the process of purchasing at the bank one day. He was right though! The profit was crap, and the gain was in bulk sales. Even so, retailing under him was also not a bad idea either.
But… could it be better?
So I started off on my own! I did my first transfer and it was successful! But the bank charges were more than twenty five percent of the total cost for my first set of five vouchers (€50 worth). Even so, I continued to look for alternatives because there was only little profit left!
So I thought about alternatives. I thought about new ways to solve this problem. I left regular bank transfer and tried the same transfer via the ATM. And can you guess what I discovered? It cost about eighty eight percent less that the regular bank charges! Whaaat!? This became my secret!
While others were losing money via bank transfer, I was sneaking to the ATM to make my transfers at night. lol. And the best part? The ATM charged a flat rate per transaction! The regular bank transfers had two charges, one of which was fixed while the other was a percent. So to make better profit, you had to buy in bulk. Yet, the ATM charges were fixed and so little, irrespective of how much you transferred. How amazing!
But… could it be better?
Next, I moved to experiment with internet transfers! And oh my… that was the jackpot! Internet transfer charges cost fifty percent of what the ATM transfer charges cost. That is about ninety five percent less than what the bank transfer charges were! This was gold! It was fast, it was convenient, it was cheap!
Today, I support one or two people by selling wholesale to them. They still have no clue how I get it so cheap. lol. It is so cheap that even after the little profit I make, they still make a good profit against their competitors.
So what am I babbling all about? Innovation is key! There is always room for improvement!
So ask yourself…
Could it not be better?
Let me know what you think about finding new solutions to old problems.
Please share in the comments section below. Thanks!