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A Tale of Two Innovators
Manage episode 411676048 series 3257207
This podcast reviews 2 innovators launching new businesses. One we see as very likely to succeed. The other is a lot more questionable. We explain in detail what distinguishes the difference.
Adam Hartung made over 300 predictions during the decade he wrote for Forbes. 100% of those predictions turned out to be accurate – a record for Forbes writers. That accuracy was based upon understanding the key elements to success of launching innovations (and new products) – elements that are still poorly understood by most business people.
Listen to how one innovator required a huge investment to launch, but because he created a solution to a poorly met need, his Value Delivery System is being rapidly adopted by his target market. And he has ample opportunities to grow very quickly. The other innovator created a really neat product, but it is unclear if it has benefits that will drive adoption. Lacking a clear Value Proposition, based upon solving a poorly meet need, his Value Delivery System is really cool, but doesn’t have much demand.
Thinking Points:
- Do you know your customers poorly met and unmet needs?
- Do you make sure you know the need you’re going to fulfill prior to developing new products or enhancements to your Value Delivery System?
- Are you lured into developing new solutions because you see how cool it would be, rather than targeting a specific need?
- Are you ready to move to solve customer needs, even if it requires using innovations with which you have little or no experience?
209 episod
Manage episode 411676048 series 3257207
This podcast reviews 2 innovators launching new businesses. One we see as very likely to succeed. The other is a lot more questionable. We explain in detail what distinguishes the difference.
Adam Hartung made over 300 predictions during the decade he wrote for Forbes. 100% of those predictions turned out to be accurate – a record for Forbes writers. That accuracy was based upon understanding the key elements to success of launching innovations (and new products) – elements that are still poorly understood by most business people.
Listen to how one innovator required a huge investment to launch, but because he created a solution to a poorly met need, his Value Delivery System is being rapidly adopted by his target market. And he has ample opportunities to grow very quickly. The other innovator created a really neat product, but it is unclear if it has benefits that will drive adoption. Lacking a clear Value Proposition, based upon solving a poorly meet need, his Value Delivery System is really cool, but doesn’t have much demand.
Thinking Points:
- Do you know your customers poorly met and unmet needs?
- Do you make sure you know the need you’re going to fulfill prior to developing new products or enhancements to your Value Delivery System?
- Are you lured into developing new solutions because you see how cool it would be, rather than targeting a specific need?
- Are you ready to move to solve customer needs, even if it requires using innovations with which you have little or no experience?
209 episod
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