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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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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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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 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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A next-generation innovation writer and thought leader worth watching.
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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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You have to chip away at it and shape it to let the winning idea emerge.
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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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A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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Have a core concept, but wrap it in a full business model.
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Almost every disruption starts at the perceived fringes of today's market.
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Small teams move faster than big teams.
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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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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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Innovation is doubly hard inside big companies.
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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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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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All disruptive innovators make it easier and more affordable for people to do what matters to them, and follow a strategy that doesn't at first glance make sense to the market leader.
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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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People who live in more than two countries are more successful innovators.
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