Forget About Trying to Create Customer Needs Many people believe that the most innovative companies create customer needs with breakthrough new products. Nobody knew they needed an iPhone, the thinking goes, until Apple created the need for it. Hence, if you want to be an innovation leader, you should find ways to create customer needs. …
Increase Your ROI on R&D In a recent McKinsey survey, 84 percent of global executives reported that innovation is important to growth strategy. Yet only 6 percent are satisfied with their innovation performance. That’s a staggering 94 percent dissatisfied rate — worse than Congress! Perhaps even more disheartening is the finding that very few of …
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 …
TIGER Talk “Pivoting Innovation: New Ways to Drive Growth” Urko recently had an opportunity to speak at Innovate New Albany, one of the startup incubators in the Central OH area. About 50 people attended from local companies, large organizations and startup entrepreneurs. Jessica Pirro of Innovation New Albany wrote the recap below. This information is …
3 Reasons Why Nike is Effective at Driving Growth One of my favorite companies to watch is Nike. They keep doing things right, including driving growth at more than 10 percent annually even with sales of $30.6 billion last year. But that’s not what inspires me; their big numbers are just evidence of their effectiveness. …
The Difference Between Innovation and Creativity What is innovation? It’s one of those words that gets bandied about as if we all know what it means. And, perhaps, at a casual conversational level, we do. But when it comes time to be innovative or execute innovation, opinions vary regarding what it is and how to …
The One Thing You Must Do to Remain Flexible in Disruptive Times There’s an internal IBM PowerPoint slide making its way around the internet that declares, “The Digital Disruption Has Already Happened.” It cites the following evidence: World’s largest taxi company owns no taxis (Uber) Largest accommodation provider owns no real estate (Airbnb) Largest phone …
4 Steps to Launch an Offering (or a Presidential Candidate Like Trump) Presidential candidates are “new offerings” presented to the American public every election cycle. Here are four steps that I take with clients to help them determine what their customers really want, along with some thoughts about how this approach applies to presidential candidates …
How One Business is Disrupting Its Market I don’t write food or restaurant reviews, but I admire any organization that changes the game and distinguishes itself in a crowded field. One such organization is the fast casual restaurant Hot Chicken Takeover (HCT) in Columbus, Ohio. It’s disrupting the fast casual restaurant market by competing on …
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