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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.

Scott D. Anthony

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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Profit
Profits
Courses
Focusing
Course
Revenue
Business
Customer
Retention
Might
Employee
Metrics
Thinking
Meaningful
Revenues
Customers
Internally
Satisfaction
Launching

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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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There's a general belief that failure is the friend of the innovator, but I've come to view it a different way.
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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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You have to chip away at it and shape it to let the winning idea emerge.
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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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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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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 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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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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It's very easy to skip steps when documenting an idea.
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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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I think people make innovation much more complicated than it needs to be.
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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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I think the most important thing to do is to recognize the fundamentally different circumstances of pursuing growth.
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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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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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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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Three of our core corporate values are inclusiveness, collaboration, and humility.
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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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