Knowledge is a valuable resource built over time and experience. Many people spend years in a specific industry, honing their skills to become reliable and trusted experts. Their know-how solves and prevents countless problems, sometimes in unexpected ways.
This ever-evolving dance between challenge and remedy is how industry advances— and it starts with qualified people just like you.
Challenges Create Opportunities for Innovation
Innovation is born from solving a problem or need, yet only accomplished with the right expertise and a healthy dose of curiosity. Seasoned employees have the hands-on experience to create solutions that could revolutionize their trade and open the door for lucrative opportunities.
For example, tinting paint used to be a painstaking manual process involving precise measurements with significant room for error and cost. With automation, a simple push of a button distributes the exact amount of tint in the paint each time, reducing the risk of human error.
So, where you may experience frustration in a system or process, it may be the perfect opportunity to develop a solution!
Capitalizing on Your Experience
Have you ever thought, “I wish there were a tool for this,” or “There has to be a better way?” Where there is a need, there is a chance for improvement.
With problem-solving, optimizing, and updating systems or procedures comes innovation that evolves industries into new opportunities for those with the talent and foresight to capitalize on them.
With years of training and experience, you can develop, manufacture, implement, and scale your problem-solving concept into a lucrative business. All you need is a bright idea and the courage to make the most of it.
From Challenge to a Bankable Concept
We all know that simply having a good idea does not make it a reality. There are many steps between the concept to seeing it materialize.
First, you must complete an incredible amount of research to help determine if your concept is viable. Compiling this research into a business plan is not just for grant and loan applications but for your benefit as well.
For example, you will need the following information:
● Customer persona
● Consumer-based feedback
● Cost of development and production
● Marketing
● Distribution
● Financial projections
● Funding requirements
● Key stakeholders and resources
Doing the legwork and writing a business plan is no easy task. Yet this invaluable information will help determine if you have a viable business idea.
For most, this is incredibly daunting, and they lack the confidence and knowledge to take the necessary steps to see their concept through. Thankfully, you don’t have to do it alone.
Running With Your Idea
Whether you create a product or service never seen before or re-work an outdated system, you have the opportunity to develop your concept using Central Alberta resources such as the Central Alberta Regional Innovation Network (CARIN).
One of the most amazing resources available is CARIN’s Catalyst Incubator program which runs almost every quarter. Together with mentors, funding partners, and provincial and federal resources, CARIN helps entrepreneurs make their ideas a reality in the agriculture, manufacturing, and technology industries. Participants can test and validate their business ideas through instruction, coaching, and networking as they complete research.
Got a Bright Idea?
Have you been sitting on a business idea without knowing how to develop it? Entrepreneurs in Central Alberta can tap into CARIN’s resources through advisory services or more in-depth in the Catalyst Incubator.
Make the most of your expertise and discover how to evolve your innovation or business idea!
For more information or to register, contact CARIN online.
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