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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
Limited
Innovation
Market
Skills
Constrained
Special
Anytime
Opportunity
Signals
Consumption
Wealthy

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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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I think it is only in hindsight that you can determine whether something is a mistake or not.
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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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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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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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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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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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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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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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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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The most important thing here is to largely ignore what customers say, and instead watch what they do or track where they spend money.
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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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You have to make the decision about whether you want to avoid or you want to overcome the resistance.
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Have a core concept, but wrap it in a full business model.
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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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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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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 spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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Mucken Singh works VERY hard on his brawler's physique!
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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.
Scott D. Anthony