Why do startups like AirBnB, Uber, Space X succeed while other fail? Is it the team? Funding? Timing? Idea? Business model? You, and most people, will think it’s all about the idea, the team and execution. It’s neither. According to serial entrepreneur Bill Gross, it’s all about timing.
Want to know why innovation is so hard? Though the vast majority of companies do some kind of market research, it isn’t enough because whatever insight is gleaned from it is lagging by the time a formal report is made. Instead, companies need to go deeper and step into customer’s lives. A good part of […]
Most companies, as well as individuals, suck at innovation because they suck at change. Why? First and foremost, succeeding at change requires open mindedness because if you aren’t open to new ideas how can you expect others to be open to yours.
40% of today’s Fortune 500 companies will be gone in ten years:
Understanding the difference between a customer’s wants and needs is a major key to succeeding in business. Often what a customer wants is diametrically opposed to what they need. As a businessperson, your job is to give the customer what they want. Helping them to understand what they need is also important. However, it’s not […]
With the inevitable rise of entrepreneurship and startups driving customer innovation, incumbent companies have begun adopting some of their techniques to either catch up or really stimulate transformation within the enterprise. A recent report by BPI Network called “Start-Up Innovation: Inspiring Business Transformation,” examines the impact of digital disruption on global enterprises and markets. The […]