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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.

Scott D. Anthony

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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Wealthy
Limited
Innovation
Market
Skills
Constrained
Special
Anytime
Opportunity
Signals
Consumption

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It's very easy to skip steps when documenting an idea.
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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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A next-generation innovation writer and thought leader worth watching.
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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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Have a core concept, but wrap it in a full business model.
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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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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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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 chip away at it and shape it to let the winning idea emerge.
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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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In my mind, so-called cultures of innovation really boil down to one word: curiosity.
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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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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 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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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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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 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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Successful strategies adhere to a basic pattern.
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Small teams move faster than big teams.
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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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