Innovation is hard
Why does innovation not work? Why do the big companies spend the millions and the young start-ups with no money walk away with the big price? Below are the lessons from 2 books and also a suggestion of the book to use, which is “Business Model Innovation Factory”.
“Creative intelligence”
“Creative intelligence” is about trying to crack the innovation code. What are the tricks:
- Embrace VUCA (volatile, uncertain, complex, ambiguous)
- Harness uncertainty
- Play
- Create a knowledge jumping point (TED, knowledge, connections)
- Pick congestion to immerse yourself (cities of knowledge and connections)
- Use Kickstarter
- Apply the 20% rule and let your staff play
- Become an entrepreneur (the language of play)
- Use a Techshop
- Start making things (and become part of the maker movement)
- Embed meaning in your product or service
“Digital disruption”
“Digital disruption” takes it one step further. A new breed of competitors has arrived. Digital disruptors, coder dojo on steroids. Millions of them. Using free tools, better than Bill Gates had, using global platforms to scale overnight. Using “free” to permeate the idea. What are the tricks:
- Look at biology for innovation
- Determine what does the customer need next
- Deliver total product experience (including digital)
- Apply the lessons from “Infinite possibility” and “The experience economy.”
- Read “Business model innovation factory.”
- Use all the free stuff as a company (forget property)
- DIY
- Be a slapper and partner with lots of people, companies, stakeholders
- Focus on ROD (return on disruption) instead of ROI
The lessons
- Focus on the power of one
- Examine new employment models (digital mercenary)
- Make your company disposable
- Realise that soon everything will be shared (IP and regulation are dead)
Entrepreneurs
Entrepreneurs are the future, with access to vast networks, using very powerful free technology and software, sharing their lessons and learning, utilising global platforms to scale, with finance from crowd funders. It will be disruption for every industry. Not a slow one. A “big bang disruption” which is straight from a current HBR article. It will now happen overnight. Companies need to embrace the mindset and innovate to kill themselves fast. The book to use is “Business Model Innovation Factory”. The link is here
