Business Models

5 Steps for a Better Innovation Culture through Experimentation & Failure

I have recently written a white paper on how to build a stronger innovation culture by embracing failure. Unfortunately, I cannot offer a clear solution, toolbox or blueprint on how companies can do this and one major reason for this is that most — if not all — companies are very reluctant to share their failures and how they approach them and learn from them.

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Selling Innovation: The Data (chapter 6)

The innovation economy shifts daily. New or updated products and services change the landscape at an ever increasing rate, and occasionally a truly disruptive innovation enters the market forcing incumbents to alter plans while opening up new opportunities for the latest crop of fast followers.

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Selling Innovation: The Repeat (chapter 5)

While the most cost-effective method of customer acquisition is capturing a repeat customer, in the innovation economy that second sale is paramount. The second sale validates the marketplace, and moves you one step closer to broad market penetration. It is the catalyst to moving from selling to early adopters to selling to a larger, mass market.

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Selling Innovation: The Pitch (chapter 3)

Once you have designed a great product or service and determined the most effective path for taking it to market, selling your innovation will require creating a message that communicates the value proposition to prospective buyers. Because both consumer and corporate buyers are far more sophisticated today with access to multiple sources of information - from product reviews to competitive pricing - your pitch can not be one-dimensional. You must blend a simple, easily grasped and remembered tag line with feature-function lists, competitive product comparisons, and not a small measure of excitement.

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The Five Sources of Innovation Consultants

Recently a newly minted MBA contacted me, expressing interest in work as an innovation consultant. What I found interesting was that the individual offered up the other firms he'd contacted, and from his note to me it was clear that he didn't understand the differences between firms that offer services in the "innovation space".

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Selling Innovation: The Path (chapter 2)

Once you have designed your core product, service or solution, it’s time to plan the optimal path to market. Traditional go-to-market strategies are a good foundation from which to build a path to market for your innovation. But in the innovation economy the exact path or paths to success may not be knowable at the outset. Successful Selling Innovation requires constant listening, adapting, and refining plans as new data emerge - in current lexicon it's called pivoting.

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