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The Archives
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11.16.11Bringing Winning Back Through Innovation Not RenovationSometimes we just try to get through the day, answer all of our emails, respond to all requests from clients, and complete what must be done. There never seems to be much time left for creating innovative new ideas and strategies. Yet, if we don’t create new ideas, we are stuck doing the same old thing every day watching profits go down, competitors take over, and joy leave the building. What if you HAD to think of a few new ideas each quarter (or each month)? What if at least one of them had to be implemented? What would happen ...
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04.14.10Imitating Innovators is Smart BusinessDid you know that 97.8% of the value of innovations goes to imitators? (“Imitation is More Valuable Than Innovation,” Harvard Business Review, April 2010.) White Castle led to McDonald’s; Diners Club lead to Visa, MasterCard and American Express. Walmart’s founder admitted to borrowing most of its practices from others and improving on them. In the financial services industry there are many product companies that never are the innovators but have profited from taking an initial innovative idea and making it more appealing (for instance the riders on variable annuities). That means that the hard work in designing a ...
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