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.
It’s natural to try to cut back in tough economic times, and consequently, organisations often cut innovation. This is a mistake. The best results coming out of recessions happen when firms balance short-term and long-term oriented innovation.
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.
Risk and uncertainty are two different things. Mixing them up causes problems. Here are some ideas for dealing with uncertainty in particular.
If all new ideas get killed as soon as the first see the light of day, you will never be able to build an effective innovation culture. Here are some thoughts on how to work around this problem.
People often think that having a great idea is the hard part of innovating. Most of the time, this isn’t the problem. Getting the new idea to spread is.
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.
Innovation is a powerful tool, and it’s in your hands. Here are some ideas for using it now.
Why all this talk about innovation? I get that question a lot. The reason that I think innovation is important is that it is the driver for growth. Consequently, we’re changing the name of the blog to Innovation for Growth. Here are some of the reasons that I think it’s important to link innovation with […]
What tools do you need to use to be successful in the social era? The fact is that the tools don’t matter. The two keys to success are: do awesome work, and connect with people.
