When you’re attacking a large competitor, you can’t go at them head-on if you’re just starting out. The best way to win is to innovate your business model.
We’ve reached a point where startups can base their business model on the rapid testing of multiple prototypes. Scott Adams of Dilbert fame argues that this basically makes starting up a big psychology experiment. If we are in established firms, we need to build some skills to compete in this environment.
Here is a simple process that will help you innovate more effectively.
I often have people ask me what they should do with a great idea they have for a business. Here is a list of questions to work through, and resources to help you.
The Brisbane Innovation Network took a field trip to visit HackerSpace Brisbane today. We can learn a lot about how to innovate by watching how things work in these collaborative invention labs.
About 20% of firms based their pricing on real data from their customers. This is mind-boggling – and it present a huge opportunity. Business model innovation is challenging, but that’s why it provides such a great opportunity.
The startup Thumbtack hired a full-time chef a few years ago, and it transformed their business. It’s a great story of unintended business model innovation that we can learn from.
Business model innovation is relatively easy to do when you’re a startup. But it’s also a really important skill for established firms to build. In this post I discuss why, and how to approach it effectively.
In 1993 you needed a phone, a laptop, a camcorder, a palm pilot, a watch, a walkman and a pager to do most of what you can do today with your smartphone. That’s amazing, and there are some important innovation lessons that follow from this.
The Innovation Matrix is back, and now I’m collaborating on it with Nilofer Merchant! Here is a sneak peek at some of the work that we’re doing.
Wouldn’t it be great if you could do customer service like Zappos? Or design like Apple? Or innovation like 3M? Who wouldn’t want to be like those firms? Well, it’s not so simple. Barry Dalton wrote an excellent post called You Can’t Be Zappos (and why would you want to be?) addressing exactly this issue. […]
How should respond to potentially disruptive innovations? If the first response is ridicule, followed by aggression and bargaining, then you could be in trouble.