What are the Costs of Modular Building Innovation?

Modular home building was a brand new idea a decade ago and not everyone has accepted this form of building as normal. Being innovative and appealing can be difficult when it seems like there’s only so much to do with a modular home.

What are the Costs of Modular Building Innovation?

According to modularhomecoach.com, the cost of innovation can be inexpensive if done correctly. On the flip side, it can also be costly if done incorrectly and rashly.

For many, there’s a worry of bringing new ideas to the table because they might be ridiculed or rejected. However, talking about as many ideas as possible in a group setting is the most effective way to build off of one another and to inspire more creativity.

Innovation comes in small steps and needs to be supported by the group. If ideas aren’t accepted, explain why in a respectful way.

“You do not get innovation for free – you have to allocate time, money and people to the search for new products, services, methods etc. However, innovation can lead to powerful cost savings, profitable new products and competitive advantage”

For some companies, the hardest part is to find the person who will volunteer and lead a discussion. If you have ideas, grab a co-worker and present them together if it makes you feel more comfortable.

Here is the cost breakdown of innovation:

1. It costs virtually nothing to:

  • Communicate a vision of innovation
  • Set goals and objectives for ideas, prototypes and innovations
  • Ask your people for ideas
  • Ask builders for ideas
  • Ask your customers for ideas
  • Ask suppliers for ideas

2. It costs very little to:

  • Run brainstorm meetings
  • Evaluate and select the best ideas
  • Build models and prototypes
  • Ask customers to evaluate your prototype products or services
  • Implement small incremental innovations in your products, services and methods
  • Empower people to try more initiatives in their areas
  • Investigate new ollaborations. Partnerships, ideas and products

3. It costs a lot of money to:

  • Roll out major new products or services
  • Try an entirely new business model

What are the Costs of Modular Building Innovation?

Trying to focus on categories 1 and 2 will help to be cost-efficient and innovative at the same time.

Here at Irontown Modular, we’re always trying our best to be innovative and bring you all the best there is.

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