Blog
How Can My Product Change in 5 Years
Do you sell atoms or bytes? Do you think that your answer could change over the next five years? Think about Amazon and the Kindle. Jeff Bezos asked, What is my role going to be if the nature of books changes? He realized that to stay relevant and necessary his
How Does FIRE Fix The Innovation Gap?
The main challenges that all organizations face are what I call the innovation gap and the innovation delay. The innovation gap is the difference between the need for really great ideas and the actual supply of them. The innovation delay refers to how long it takes you to go from selecting an idea f
Where do we perform research and development
Where do we perform product research and development? Where else could this be done? What is your organization’s philosophy about design and development? Do you keep everything in-house, or do you outsource as needed? There are two schools of thoughts on this. By keeping the design process in-house, a
Where are your future customers?
How will you identify and locate customers in five years? Every hot trend reaches a point I like to call the “Uncle Larry moment.” You know what I mean. It’s the juncture where one of your older relatives announces he’s taken up something that had seemed cutting edge, futuristic, and exciting up til
In What Order Do You Do the R and D Process
In the traditional R&D process, the product is developed and then handed off to the design team to “wrap” it and make it look pretty. The drawback is that this approach is out of date; in the last ten years consumers have become much more design-savvy. Consumers want
Focus Your Search For Better Ideas
The first stage of FIRE, Focus, is about doing a thorough but organized search, so you don’t inadvertently ignore a critical area of discovery. Successful innovation is the translation of better ideas into something, such as a product, that is real. If you are focused in your approach, you will be a
What emotional psychological or status benefit could people derive from my product
What emotional, psychological, or status benefits could people derive from using my product? Do you have diamonds stashed away that you reckon you can sell if times ever get tough? Say, a family heirloom, or an engagement ring from a failed marriage? Perhaps you know how much the diamond was
What Are The Rules And Assumptions Under Which You Organization And Industry Operates?
To uncover the assumptions that could be blocking you from seeing the challenges and opportunities, here are two questions that are designed to help you discover the rules and assumptions under which your organization and industry operates. I want you to use them to start unraveling the assumptions
What is the process used by my customer to discover my product
Do you have a digital twin? The concept first formed on consumer sites like Yelp, but it’s becoming a catchphrase in marketing and sales. The idea is that dedicated users of sites like Yelp eventually notice that there are other users whose tastes, interests, and “favorites” match their own.
The New Economy
I firmly believe that we are in the early stages of a new economy, one where the most valuable talent you can bring to the table is being an “idea person.” Knowledge is quickly becoming a commodity (think of the thousands of highly capable educational institutions springing up in India, China, and o
