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You Can’t Buy Innovation The most consistent finding across the fourteen annual Global Innovation 1000 studies of the world’s thousand biggest R&D spenders is one most executives still find hard to believe: there is no long-term correlation between what a company spends on innovation and its overall financial performance. In the study’s final year, 2018, …
Are You Playing Too Small with Your Offerings?
When Being Customer-Focused Isn’t Enough Many organizations proudly promote being “customer focused” in their vision, mission, values and/or culture. I think we can all agree that this is a good thing because, for starters, without customers, there wouldn’t be a business. And probably all of us can cite many reasons why we like doing business …
Does Your Innovation Strategy Pass the “3 Elements” Test? Formulating good strategy can be hard. One reason is because there’s a lot of confusion about what “good strategy” really is. Fortunately, Professor Richard P. Rumelt, Emeritus Professor, Los Angeles Anderson School of Management, and author of Good Strategy, Bad Strategy: The Difference and Why it …
3 Ways the Job-to-be-Done Approach Can Help a Business Grow More and more, I have noticed that the organizations that are most successful at innovation are attaching the Jobs-to-be-Done (JTBD) approach to the front end of their process before Design Thinking, Lean, and Stage Gate processes. This is because JTBD identifies and ranks the biggest …
Why It Is Essential to Get the Front End of Innovation Right The late great coach of the Green Bay Packers, Vince Lombardi, began the first day of practice every year telling his players, “Gentlemen, this is a football.” Some people might find this silly but that would be a mistake. Coach Lombardi knew that …
Selling More Isn’t Always About Selling Here’s a classic 5-minute video of the late great Harvard Business School Professor, Clayton Christensen, explaining how the jobs-to-de-done (JTBD) innovation approach can help any business sell more. The breakthrough jobs-to-be-done (JTBD) approach he is describing has nothing to do with “selling.” 3 Takeaways: First, being “customer-focused” is not …
How to Clean Up Your Innovation Mess According to the late Wharton Professor Russell Ackoff, attempting to innovate without first validating customer demand is a “mess.” Indeed, any situation that has “arguable issue definition and arguable solutions” is a mess. In other words, if you are trying to solve a problem that has not been …
Why People Don’t Want to Buy Your Products and Services Nobody wants to buy your products or services or mine; they want to acquire value. Customers measure value by how well a product or service helps them get their functional, emotional, and social jobs done. Products and services are just the tools people “hire” to …
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