When resources are tight, look to innovation from within

In times of scarcity, business owners often succumb to a mindset of limitation. Accountability coach Grant Difford challenges this notion, urging leaders to embrace innovation from within. By reframing constraints as opportunities and leveraging existing resources, businesses can unlock hidden potential and drive growth – even in the toughest circumstances.

As a business owner, you’re no stranger to pressure. Whether it’s tightening financial belts, working against the clock, or doing the job of several people, the challenges of limited resources are part of daily life.

When times get tough, and external circumstances seem to squeeze every available avenue, it’s easy to fall into a mindset of scarcity – believing that you simply don’t have enough to work with.

But what if, instead of seeing constraints as barriers, you saw them as opportunities?

Innovation doesn’t always have to be expensive or complex. In fact, it often thrives in environments where resources are limited. By shifting your mindset and prioritizing innovation as a tool for progress, even when external constraints feel overwhelming, you can unlock untapped value within your business.

This value is already there; it’s just waiting to be realised.

At the heart of innovation lies a mindset shift. It’s about moving from a focus on what you lack to what you can do with what you already have. It’s easy to get bogged down in the day-to-day grind, especially when time and money are scarce.

But innovative thinking doesn’t require extra funds or more hours in the day – it requires a willingness to look at your existing business with fresh eyes.

Think of innovation as simply doing something differently or better, with the aim of creating more value for your customers, your business, and yourself.

This mindset shift can lead to significant growth because you’re no longer waiting for external conditions to improve; instead, you’re taking control of what’s within your power. 

Tip 1: Remind people you exist

One of the simplest yet most effective ways to innovate is to remind your audience that you exist. It sounds obvious, but many business owners underestimate the power of consistent communication.

When was the last time you reached out to your customers or clients? How often do you engage with your audience to let them know what’s new or what’s on offer?

A simple email or social media update can make a huge difference. You don’t need a big marketing budget to stay top-of-mind; you just need consistency.

Whether it’s a monthly newsletter, regular social media posts, or even a phone call to key clients, keeping yourself in front of your audience ensures they remember you.

And in tough times, it’s often these small, proactive touches that spark new business opportunities or reignite relationships with lapsed clients.

Tip 2: Review what’s already working

Another way to innovate from within is to double down on what’s already working in your business. Sometimes, when we face challenges, our instinct is to chase after new ideas or change strategies altogether. But often, the key to progress lies in refining and enhancing the strengths that are already present.

Take a step back and analyse your business. What products or services are performing well? What areas consistently deliver results, even when times are tough?

Once you identify these, focus on amplifying their impact. Could you increase visibility for these products or services? Are there ways to streamline or optimize their delivery?

For example, if you’re running a service-based business and one specific offering is consistently in demand, think about how you can expand its reach.

Could you package it differently, offer a scaled-down version to attract new clients, or raise your prices slightly to reflect its value? By focusing on what’s already bringing in revenue, you can maximise results without needing to introduce something entirely new.

Tip 3: Tap into untapped talent

In small businesses, especially when you’re leading alone, you often wear multiple hats. But have you fully considered the talents of those around you? Whether it’s employees, freelancers, or even loyal customers, there may be untapped potential that could add tremendous value to your business.

For instance, if you have an employee who excels in customer communication but is primarily handling back-end tasks, consider shifting their responsibilities to better align with their strengths.

Maybe there’s a customer who has been with you for years and has expertise in an area you’re struggling with – could they offer advice or even collaborate on a project?

It’s easy to overlook the skills and potential of people you already know because you’re focused on maintaining day-to-day operations. But innovation often comes from looking at your team, network, or community with fresh eyes and realizing that sometimes the best resources are the ones already within reach.

Innovating within isn’t just about creative thinking – it’s also about overcoming fear. Many business owners, especially those who lead alone, struggle with the fear of change.

It’s understandable. Change can be daunting, and the risk of failure feels heightened when resources are limited.

But the beauty of internal innovation is that it’s low risk. You’re not betting everything on a new product or entering an unfamiliar market. Instead, you’re leveraging the assets you already have, refining what’s working, and optimizing your business processes.

By starting small and building momentum, the fear of change can be replaced with a growing sense of possibility.

When you prioritize innovation within your business, even in the toughest times, you’re setting yourself up for long-term success. Not only are you actively seeking ways to create value, but you’re also building resilience.

The ability to adapt, find solutions, and thrive under pressure is what will keep your business strong in the face of adversity.

The mindset of innovation ensures that your business isn’t just surviving – it’s evolving. You become more agile, more responsive to changes in the market, and more attuned to the needs of your customers.

In many cases, businesses that innovate during challenging times come out stronger, more efficient, and more competitive than before.

For example, I recently worked with a client that was looking for some new energy and opportunity, within two hours we identified a potential new revenue stream of $1.2m, from an existing product!

All it needed was a couple of small tweaks, a simple action plan and then to get on the phone and start sharing with their current customers. It just needed a fresh pair of eyes.

Innovation doesn’t have to be grand or expensive to be effective. It starts with a mindset shift – a focus on what you can do with what you have, rather than what you’re lacking.

By reminding your audience that you exist, refining what’s already working, and tapping into untapped potential within your business, you can make progress, even in tough times.

It starts with you. The value is already there. All that’s left is to unlock it.

Read more: The silent saboteur: Confronting your inner critic