The Business Trendsetter Podcast

A Tale of Two Innovators

Episode Summary

We reviewed 2 innovators launching new businesses and why one will succeed and the other will not.

Episode Notes

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?