Segment 1: One Dimensional Innovations – Getting out of the innovation rut
- “One Dimensional Innovations” are when you are stuck in a rut and focusing your innovation efforts in the same area as your competitors
- Why is it so hard?
- People tend to focus the innovations in areas where they think they are getting measured (customer,press reviews, etc)
- Its not about results but about innovating in the portion of the value chain that your competitors are not.
- So .. what can you do??
- Research and understand your value chain (your supply chain is only a portion of your value chain)
- Look for ideas that attack multiple steps in the value chain not normally looked at by your competitors
- Look for ideas that eliminate steps in the value chain
- Look for ideas that add/replace steps in the value chain that customers will value and compensate your for
- Rank your ideas against your customers un-spoken needs and wants
Segment 2: Killer Question
What are the spoken and un-spoken assumptions that your business and/or industry operate under?
What is the default value chain your business and/or industry operate under?
Segment 3: Listener Question
How do you find help with an idea? (submitted by “Clay”)
- Avoid the “for fee” companies that want to charge you evaluating your idea and possibly securing you a license for your idea. They are not worth their time.
- Can I help?? I’m swamped with my current job – but feel free to send me an email and I will try to respond (no promises)
- Search our a local mentor
- Someone who has had some success in translating and idea into market success
- They have local knowledge, expertise and contacts
- Take the idea to your customers for validation