I’ve seen a lot of startup pitches recently, and it seems like founders are obsessed with features. I don’t care about your features. Tell me how you’re going to create value instead. Here is how to think about that.
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.
If you are using a tool like the Business Model Canvas, where does innovation fit? The answer depends on your strategy. I use The Innovation Matrix to outline several different strategies, and how the business models for these will be different.