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.…
English: Logo of Ikea. (Photo credit: Wikipedia)
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 why most new products and services fail is because people don’t understand how it fits into their lives; which stems from an organization’s lack of understanding of people unarticulated needs.…
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 a retail merchandising 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 your responsibility to convince customers to get what they need. Businesses make money by satisfying their customers. Often it’s easier to sell them what they want than what the need. So that’s where businesspeople should primarily focus their energy.…
What does a culture of innovation look like?
It’s a question I discussed on a previous blog post but elaborated further on the Culture Radio podcast by Be Furniture……
Strategy without change is pointless, and doing what everyone else is doing is not a strategy; it’s a key principle most business people don’t get.
Take the most common advice you hear out there: don’t limit yourself to niche market; you won’t make any money. …
