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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
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Good innovators like to solve business crossword puzzles.
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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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I think people make innovation much more complicated than it needs to be.
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I think it is only in hindsight that you can determine whether something is a mistake or not.
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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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A next-generation innovation writer and thought leader worth watching.
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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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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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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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Have a core concept, but wrap it in a full business model.
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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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The reality is customers lie - not because they want to want to deceive you, but because they don't do a good job of predicting what they will do in the future.
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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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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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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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Three of our core corporate values are inclusiveness, collaboration, and humility.
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Small teams move faster than big teams.
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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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A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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