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Out of hardship comes innovation and there is no doubt that we shall all be tested with our innovative ideas this year! Many business owners are wondering what they can do to survive the credit crunch and yet continue to plan for the future. But there are some interesting ideas, new and old, which might change the way that we run our businesses in the future.

The rules of business have changed! Many businesses are re-defining themselves around their core skills and creating long term relationships with other businesses in order to bring the greatest values to their customers. The old days of the corporation buying as many assets as possible to make themselves autonomous is going. Companies are now looking at the viability of outsourcing.

What are your innovative ideas this year? How do you think you will develop them? My first one is to pick up the social media tools again after a long break and to try to identufy which ones will help – starting with a regular blog!

Next time: Small is Flexible – is there a case for encouraging more people to start their own businesses?