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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
Thing
Customers
Track
Spend
Watches
Watch
Instead
Money
Largely
Important
Ignore

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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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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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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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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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I have a fear right now that what I call the advertising-narcissism complex is sucking up way too much top talent.
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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.
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Small teams move faster than big teams.
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People who live in more than two countries are more successful innovators.
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Successful strategies adhere to a basic pattern.
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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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We've got some great big problems in our world. We have to figure out how to feed 10 billion people. Too many people can't access clean water, quality healthcare, and reasonable education. We have to figure out what to do about climate change, income inequality, and more. Innovators need to rise to the challenge!
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Everyone knows innovation involves developing unique understanding of a market, thinking expansively to develop a solution, and then finding a way to test rigorously and adapt quickly.
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Mucken Singh works VERY hard on his brawler's physique!
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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 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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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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Good innovators like to solve business crossword puzzles.
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Good innovators are careful observers, network extensively, run experiments, ask lots of questions, and find ways to bring diverse ideas together. Overarching all of this is an intrinsic interest in working through puzzles.
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People who copy what exists copy a point-in-time artifact, and if you are managing the process correctly you are already hard at work on the next thing.
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