When it comes to innovation, it might seem simple—just ask consumers what they want and how much they’re willing to pay, right? But the reality is far more complex. Consumers often don’t know exactly what they want, and even when they do, they might not share their true feelings, especially when money is involved. Leaders can f-up innovation by misunderstanding
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Chasing Unicorns Over a Cliff: The Hidden Costs of Pursuing Breakthrough Innovation
I recently consulted for a company that had achieved remarkable success through thoughtful incremental innovation. By steadily growing market share, improving profitability, and building a loyal customer base, they established a profitable and growing business. Their approach was simple yet powerful: deliver differentiated products that were highly valued by customers, consistently optimize efficiency, and gradually expand their market presence. This
Money Can Be the Fastest Way to Zero
In the world of business, cash is king—or so the adage goes. But for many leaders, an influx of capital – whether through loans or equity injections – doesn’t improve or save their company, rather it accelerates their demise. When you’re tired of the time and effort of being scrappy, spending money becomes the easiest, fastest and simplest solution to
How Leaders F-Up Innovation
When it comes to innovation, most tools, processes and frameworks are prescriptive. They promise, in essence, if you’d just do it right, you’ll always be successful. Somehow despite this, 75% of companies still report that their innovation efforts are not meeting their expectations, 60% of product launches continue to fail and 50% of innovation projects are abandoned.
Having studied at
Embracing AI in Innovation
AI Will Transform Innovation
There is no doubt that AI will transform how innovators work, collaborate, and innovate. It will shape innovation itself both in terms of what is created and how it is practiced. AI is creating transformative opportunities for innovation leaders who must adapt quickly or risk being left behind.
AI’s Impact
Innovation leaders will be impacted by
Why Leaders Hesitate: Overcoming Inaction
Leaders Face Problems Every Day
Leaders are constantly faced with the need to initiate change from addressing small daily issues to capturing major strategic opportunities. They know the consequences of failing to make changes eventually compound – creating bigger problems down the road. Yet, many leaders will go to great lengths to avoid changing how things have been done before
Routines Power Business Success
Daily routine meetings are often seen as a time sink with little to no value and can be one of the most disliked aspects of running a business. However, they may also be the most critical system for moving quickly, identifying and solving issues, and improving alignment between the company’s strategic goals and day-to-day activities.
Routines, especially daily scrums or
Top Tools to Boost Profitability in Your Service Business
INNOVATIONS AT THE 2024 FANCY FOOD SHOW
The Need for Speed: The Most Effective Way to Move Quickly is to Make the Right Decisions the First Time
Speed is often touted as a critical factor for success, with businesses of all sizes striving to move swiftly to capitalize on opportunities, stay ahead of the competition and save money. However, there’s a crucial nuance to this need for speed: it’s not just about moving fast; it’s about moving fast in the right direction. Here lies the distinction between