When you want to make your products stand out from your competitors (a.k.a. the sea of sameness), don’t overlook the obvious, deeming it inconsequential. Sometimes it’s a couple of small tweaks and subtle changes that, when combined, add more customer value and give your product a definite competitive edge. This combination of multiple small enhancements is something I refer to as subtle innovation.

When I talk with small business owners about innovation, I often hear the same thing over and over.

“We need to innovate more.”

Let’s start with the idea that there’s no one-size-fits-all approach to running a successful business. However, many small businesses face the same challenges, which puts them on one of two common paths. But there’s a third alternative path, too.

Before you start any innovation project, business transformation initiative or reinvention efforts, take a step back first. Lay the groundwork by accurately assessing where in the product market life cycle your current products and services reside.