Leaders F-Up Innovation By Believing Users Will Tell You What They Want
When it comes to innovation, it might seem simple—just ask consumers what they want and how much they’re willing to pay, right? But the reality is far more complex. Consumers often don’t know exactly what they want, and even when they do, they might not share their true feelings, especially when money is involved. Leaders […]
Chasing Unicorns Over a Cliff: The Hidden Costs of Pursuing Breakthrough Innovation
Despite steady growth, this company’s founder was dissatisfied—not with the company’s success, but with the methods behind it. Captivated by the glamor and allure of breakthrough innovation, they redirected resources towards disruptive ideas they thought would capture headlines and venture capital.
Money Can Be the Fastest Way to Zero
Cash is king—or so the adage goes. But for many leaders, an influx of capital doesn’t improve their company, rather it accelerates their demise.
How Leaders F-Up Innovation
When it comes to innovation, most tools, processes and frameworks are prescriptive. They promise, in essence, if you’d just do it right, you’ll always be successful. Somehow despite this, 75% of companies still report that their innovation efforts are not meeting their expectations, 60% of product launches continue to fail and 50% of innovation projects are abandoned.
Embracing AI in Innovation
There is no doubt that AI will transform how innovators work, collaborate, and innovate. It will shape innovation itself both in terms of what is created and how it is practiced. AI is creating transformative opportunities for innovation leaders who must adapt quickly or risk being left behind.
Why Leaders Hesitate: Overcoming Inaction
Leaders are constantly faced with the need to initiate change from addressing small daily issues to capturing major strategic opportunities. They know the consequences of failing to make changes eventually compound – creating bigger problems down the road. Yet, many leaders will go to great lengths to avoid changing how things have been done before – the status quo.
Routines Power Business Success
Daily routine meetings are often seen as a time sink with little to no value and can be one of the most disliked aspects of running a business. However, they may also be the most critical system for moving quickly, identifying and solving issues, and improving alignment between the company’s strategic goals and day-to-day activities.
Top Tools to Boost Profitability in Your Service Business
Profitability is the purpose of any business, yet many, both successful or struggling, are challenged to achieve the profits they should have.
Here are some strategies I use to enhance my clients’ profitability:
INNOVATIONS AT THE 2024 FANCY FOOD SHOW
Almost every booth at the 2024 Fancy Food Show claimed they offered something new, an innovation. But I found most were not more than incremental changes to existing products; new flavors, formats or packaging. However, a few booths did stand out to me as being both innovative and aligned with market trends.
The Need for Speed: The Most Effective Way to Move Quickly is to Make the Right Decisions the First Time
Speed is often touted as a critical factor for success, with businesses of all sizes striving to move swiftly to capitalize on opportunities, stay ahead of the competition and save money. However, there’s a crucial nuance to this need for speed: it’s not just about moving fast; it’s about moving fast in the right direction. Here lies the distinction between mere haste and effective leadership.