Every MBA school in America will tell you the importance of a 5 year plan. You have to have a clear vision of where you are headed, where your business will be, and what it will LOOK like five years from now. How many employees, how many customers, what kind of product mix? You have […]
The old saying goes “build a better mousetrap and the world will beat a path to your door”…implying that all you have to do is find a better way of doing something and you’ll be a successful innovator. Not true Lots of better solutions fail everyday and they fail for two basic reasons: #1 – […]
This is a story about the little things. The little things that solve little problems that give customers what they want and bring success to the little thing innovator. Hewlett-Packard had great success with the handheld calculator but they did NOT invent the handheld calculator. That honor belongs to Texas Instruments. The first calculator was […]
Simon Sinek in Start With Why says innovation is revolutionary. It changes industries, changes the way we do things. According to Sinek, innovation is a BIG DEAL. He is right. And he is wrong. Innovation is a big deal about 2 percent of the time. 98 percent of the time though, innovation goes unnoticed by most […]
Innovation guru Doug Hall says that every business, every product, every service is on a continuum somewhere between Monopoly and Commodity. At one end, you own the market (for the moment) and at the other, you compete with the rest of the commodities. I think it is the difference between Distinction and Extinction. At the Distinction end […]
