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Innovation

Lots of 'boring businesses' out there waiting for inspiration

Written by Joe McKendrick, Contributing Writer on

A Quote to Ponder:

"There is a huge opportunity in America today to acquire “old school”, low tech businesses and retool them with modern management, modern marketing including social media, a well crafted financial structure and a dab of leadership to make an otherwise boring business into a highly scalable and expanding enterprise in which the growing size provides an enormous financial operating leverage.

In effect, this approach takes the cutting edge of the evolving technology (including the basic impatient thinking and genius of the entrepreneurs in that space) and cycles it backwards to apply it to other opportunities."

- From "JLM," posted in a comment stream responding to a post by venture capitalist Fred Wilson

Thanks to cloud and social networking services, there never has been a better time to take well-worn, tired ideas and apply new thinking to them. Think about what Amazon did to bookshops, and Expedia to travel agencies. Can your business benefit from fresh new approaches?

This post was originally published on Smartplanet.com

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