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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
Satisfaction
Launching
Profit
Profits
Courses
Focusing
Course
Revenue
Business
Customer
Retention
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Employee
Metrics
Thinking
Meaningful
Revenues
Customers
Internally
More quotes by Scott D. Anthony
Have a core concept, but wrap it in a full business model.
Scott D. Anthony
A next-generation innovation writer and thought leader worth watching.
Scott D. Anthony
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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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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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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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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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.
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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.
Scott D. Anthony
Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!
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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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It would be fun too to put some of the great philosophers and political scientists of the past couple centuries into a time machine, have them look at the world today, and see what they think. Imagine Schumpeter, Malthus, Hobbes, Nietzsche, Marx, and more! That would be good fun.
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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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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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I think it is only in hindsight that you can determine whether something is a mistake or not.
Scott D. Anthony
Small teams move faster than big teams.
Scott D. Anthony
I think the most important thing to do is to recognize the fundamentally different circumstances of pursuing growth.
Scott D. Anthony
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.
Scott D. Anthony
People who live in more than two countries are more successful innovators.
Scott D. Anthony
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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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
