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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.

Scott D. Anthony

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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Rather
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Hypothesis
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Have a core concept, but wrap it in a full business model.
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In my mind, so-called cultures of innovation really boil down to one 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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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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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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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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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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Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!
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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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I think people make innovation much more complicated than it needs to be.
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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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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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Think about how much it costs to learn more. Sometimes you want to build confidence by knocking off the easy things.
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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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It's very easy to skip steps when documenting an idea.
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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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Almost every disruption starts at the perceived fringes of today's market.
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I find social media as fun and engaging as the next person, but imagine if all the creative talent that was pouring into finding increasingly clever ways for us to broadcast daily banality (and then serve ads based on what is learned) instead focused on some of the UN Millennium goals? The world would be a better place.
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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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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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