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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.

Scott D. Anthony

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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Track
Spend
Watches
Watch
Instead
Money
Largely
Important
Ignore
Thing
Customers

More quotes by Scott D. Anthony

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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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Mucken Singh works VERY hard on his brawler's physique!
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You have to chip away at it and shape it to let the winning idea emerge.
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In my mind, so-called cultures of innovation really boil down to one word: curiosity.
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A next-generation innovation writer and thought leader worth watching.
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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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Now, I worry a bit about the TEDification of the world where style trumps substance, so hopefully you have a good blend of both!
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Of course if you are launching a new business you can thinking about revenues, profits, and so on, but metrics such as customer satisfaction or employee retention might be meaningful if you are focusing more internally.
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Successful strategies adhere to a basic pattern.
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A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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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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Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!
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If you are a large company and you want to do something unique, you almost by definition have to tap onto the core business in some way. Otherwise you are going into a naked fight against startups, and that's just a tough place to be.
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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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If you work on a new product launch, spent time in a new geography, or work to develop a completely new skill, you have no choice but to figure out new ways to solve problems.
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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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If you are trying to improve the performance of existing operations in known markets, it is an analytical problem where it's just a question of aligning your execution engine in the right way. If it is about creating something new and different, you can't derive the right answer analytically.
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Anytime you see a constrained market, where consumption is limited to those who have special skills or are wealthy, that signals an opportunity for innovation.
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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.
Scott D. Anthony
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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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