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Companies get into grooves and they keep sharpening what they are doing, when in fact what they really need to do sometimes is to stop and do something completely differently.
Scott D. Anthony
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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Really
Company
Fact
Grooves
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Groove
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Differently
Sometimes
Companies
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Stop
More quotes by Scott D. Anthony
Make sure that you take the time to think about how other companies might respond to your idea, both those companies already in the market you plan to target as well as others that might imagine targeting that market.
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The sad truth is as difficult as the first mile can be for entrepreneurs, it is doubly tough inside most large companies as innovators can face some significant headwinds.
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Any leader has two jobs to do. To do what they are currently doing better and more efficiently (call this strengthening the core), and to do what they are not currently doing but will need to do in the future (call this creating the new).
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Teams working on disruptive ideas need to be small enough that they can be fed by no more than two pizzas.
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The most important thing here is to largely ignore what customers say, and instead watch what they do or track where they spend money.
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You can increase the odds of spotting the weak points in your approach if you really think about the end-to-end business model you plan to follow - how you plan to create, capture, and deliver value.
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The need to be thoughtful about experiment design is particularly acute within large companies, since some of the behaviors, such as having small teams and tapping into low-cost resources to maximize flexibility, won't come naturally to many people inside huge companies.
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There's a general belief that failure is the friend of the innovator, but I've come to view it a different way.
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There is what Steve Blank calls the stage where you are searching for a scalable business model. Then, there is the stage when you have found that model and need to scale it. In the former stage you have to have a beginner's mind, be in learning mode, and expect to learn things you didn't anticipate.
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One of the biggest mistakes large companies make is creating innovation teams that mirror all the functions of the core business. Those teams make no progress because they spent forever updating each other on what they are doing versus really crushing the most critical problems they need to address.
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Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!
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So many people tell me that they aren't creative or they aren't innovative, and it's just not true.
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It's one of the underappreciated skills required by an innovator - they have to be able to convince lots of people to do things that might not be fully rational (invest in the company, join something that is likely to fail, try a product they've never seen before), and if you can't tell a good story it is just very hard to make that happen.
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I think the most important thing to do is to recognize the fundamentally different circumstances of pursuing growth.
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It would be fun too to put some of the great philosophers and political scientists of the past couple centuries into a time machine, have them look at the world today, and see what they think. Imagine Schumpeter, Malthus, Hobbes, Nietzsche, Marx, and more! That would be good fun.
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I've come to the conclusion that the core characteristic that separates companies that get innovation from those that don't is a simple word: curiosity.
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Of course, it is worth it to take the time to think carefully through your assumptions, and ensure you at least have hypotheses around how you will create value. But use the analysis as a way to focus attention on the most critical assumptions, rather than spend a ton of time massaging the numbers.
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Good innovators like to solve business crossword puzzles.
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You have to make the decision about whether you want to avoid or you want to overcome the resistance.
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Almost every disruption starts at the perceived fringes of today's market.
Scott D. Anthony
