Why “Increasing Risk Tolerance” as a Growth Strategy is a Bad Idea “Without sustaining the practice of innovation, no company can excel – or survive.” – A. G. Lafley and Ram Charan, “The Game Changer” Many leaders recognize the importance of innovation but find it difficult. Too often, it seems like a random haphazard event that …
How Jobs-to-Be-Done Can Dramatically Improve Your Strategy
Podcast on JTBD with Urko and Jeff Baker, Head of Product Development and Customer Insights at NetJets Every leader must learn how to make innovation a repeatable business process or risk being blindsided by disruption. With that in mind, I’d like to share this VoiceAmerica radio show interview that I did with a client from …
To Be Innovative, You Must Look into the Future Definition of a market: “A market is a place where two parties can gather to facilitate the exchange of goods and services.” — Investopedia Notice that this definition is based on existing products and services. It should be no surprise then that many executives try to size the …
Who Distinguishes Objectives From Solutions? In his book, Lead With a Story, Paul Smith tells about Jayson Zoller’s experience as a student at the University of Central Florida 20 years ago. One of Jayson’s favorite professors often arranged research projects for the class with community leaders. In one such case, the professor described an unusual …
Why Big Data Underperforms at Innovation – Part 1 The American Market Association recently estimated that companies will spend approximately $92 billion on big data by 2026. But is big data delivering the return on investment in innovation that leaders want? Forrester reports that only “29 percent of firms are successful at connecting analytics to …
A Better Way to Formulate ‘Blue Ocean’ Strategy Many readers may be familiar with the 2005 global best-selling book “Blue Ocean Strategy” by professors Renee Mauborgne and W. Chan Kim. In the book, they introduced the concepts of red and blue ocean markets, which are still helpful today for leaders operating in competitive markets. Yet, …
There’s a Better Way to “Refresh Your Brand” We know from study after study that the key to successful growth is having a clear understanding of customers’ unmet needs. It’s very hard to innovate, differentiate, and grow if you don’t know where your target customers’ needs remain unmet by your own offerings and your competitors’ …
How to Differentiate in a Mature Market Driving growth in mature markets is hard. By definition, a market is “mature” when most of the customers’ needs are well-satisfied. The reason it’s so hard to differentiate, innovate and gain market share is because there are very few unsatisfied needs left to exploit. This situation tends to …
Drive Growth By Redefining Your Market Definition of a market: “A medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange.” — Investopedia Note that this definition is based on current goods and services. Consequently, it should be no surprise that many business leaders define their markets …
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