![]() What is a business model, and how do I innovate it? A. Doing it differently – disruptive innovations create new markets and transform existing ones through simplicity, convenience, affordability, or accessibility Avoid overshooting, it’s possible to overshoot your target market by introducing features your customer will take, but not value enough to pay for. Remember quality is relative that can only be determined by understanding what matters the the target user Seek ideas from everywhere by exploring as many avenues as possible. Go to the “intersections” and borrow liberally from how other contexts and categories have solved similar or parallel problems How can I get inspiration for an idea? A. Don’t’ innovate blind, but borrow the eyes of competitors and other market players by asking yourself why they haven’t already seized the opportunity you have identified. How can I confirm that the opportunity I have spotted is real? A. Get as close to the context as possible with observational and ethnographic research – and “avoid focus groups like the plague” ![]() How should I investigate potential opportunities? A. Find “compensating behaviours” that people engage in to cover the inadequacy of existing solutions How can I find non-obvious opportunities? A. Compete against non-consumption by looking for “non-consumers” that face a barrier inhibiting their ability to get a job done Look for an important problem job/task that customers can’t satisfactorily get done today What indicates an opportunity for innovation? A. Look at the market through you real boss’s eyes and understand their problems that need solving How do I spot opportunities for innovation? A. Start before you need to by watching for early warning signs, because the urgency of innovation and the ability to innovate are inversely related. Experimenting: Trying new things and going to new placesĪnd finally Four Steps of Successful Innovation are described.Observing: Watching the world for surprising stimuli.Networking: Interacting with people who think and do differently.Questioning: What If type though experiments.The Hollywood pitch is simple, fun and smart – and we agree, is a great innovation tool.įour core behaviours are identified as key to successful innovation Where “X” is an existing named success, the preposition is “for”, “in”, “with” etc, and “Y” is a new context or target. Innovation is imitation with a twist take a success and mutate it into your category with a simple formula: The Hollywood Pitch for the movie “Speed” was “It’s Die Hard on a Bus”, Alien: It’s Jaws in Space, Avatar: It’s Pocahontas on an alien planet. Is there a similar problem that has already been solved in another category that you could use? Hollywood uses associational thinking to come up with and pitch new movie concepts. And of the best ways of for solution searching is “ associational thinking“.Īssociational thinking involves thinking about problems by association. The overall message is deceptively simply the secret to innovation success is to identify unsatisfactorily solved problems, and then come up with new and effective solutions. Disruptive Innovation (creating a new category) ![]() Transformational Innovation (introducing a breakthrough in performance in existing categories)Ĥ. Sustaining Innovation (incrementally improve excising products and services)ģ. Commercial Innovation (a better way to market and promote existing products)Ģ. Whilst most innovation defaults to product innovation, brands have four major innovation opportunities ġ. It’s a smart distillation of thought- leading innovation insights into digestible bite-sized chunks. The Little Black Book of Innovation demystifies innovation – defined as “ something different that has impact” for consumer brands into 28 straight-talking Q&As. ![]()
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