Why did No-one Think of This Before?

Have you ever seen an idea in action and thought, ‘Why didn’t I think of that?’  Let’s look at three recent innovations which might surprise you. Washing machines can be very heavy. This is because they contain concrete blocks weighing about 25 kgs which are needed as counterweights to keep the machines stable during spin cycles.  Researchers at Nottingham Trent ...

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We Too Often Ignore The Tradeoff Between Innovation And Optimization

For decades, managers have been focused on efficiency. From Frederick Winslow Taylor and his Principles of Scientific Management early in the 20th century to more modern practices like Six Sigma, executives continually honed their operations to achieve maximum productivity at minimal cost. For the most part, this type of approach can be amazingly effective. Even a relatively small improvement of ...

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Every Founder Needs to Answer This Question

Not being totally honest with yourself about this might be the biggest mistake you will ever make. “The freedom to make my own mistakes is all I ever wanted.” – Mance Rayder, Game of Thrones I have an eminently simple philosophy when it comes to business and life; no decision is a mistake if you can look back on it ...

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Want to Nail Pricing? Understand Market Dynamics First

Want to Nail Pricing? Understand Market Dynamics First - Innovation Excellence

Pricing is a game – one with asymmetric and imperfect information. So what does this mean for you? Basically, you’re very unlikely to nail pricing the first time. And even if you do come close, you’ll have to adjust as your product and market mature. While you’ll never get pricing 100% right the first time, there’s no reason you shouldn’t set yourself up for the best possible chance at success.

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