Innovation Success Factors

Mar 24 2024

What keeps your innovation from taking off? 🤯 Don't underestimate the resistance if a solution is not compatible with existing values. 👓 Google Glass generated a lot of hype and curiosity, especially among tech enthusiasts and early adopters. It was seen as a breakthrough in augmented reality and...Read more

What keeps your innovation from taking off? 🤯 Don't underestimate the resistance if a solution is not compatible with existing values. 👓 Google Glass generated a lot of hype and curiosity, especially among tech enthusiasts and early adopters. It was seen as a breakthrough in augmented reality and wearable technology. Google invited selected users to test the device and provide feedback, in exchange for paying $1,500. However, the Google Glass soon faced a backlash from the public and the media. Many people found the device intrusive, creepy, and potentially dangerous. They feared that the Glass users could secretly record or photograph them without their consent, or distract themselves while driving or walking. Some places, such as bars, restaurants, cinemas, and casinos, banned the use of the device. The Glass users were mocked and ridiculed, and some were even assaulted. 👉 There are 5 variables that influence the spread of an innovation. Learn about them in this article: https://buff.ly/48xjfIf Follow me for more insights on #innovation and #innovationstrategy.

Mar 17 2024

How a psychedelic lamp became a cultural icon 🌈: The Lava Lamp. In 1963, a British accountant named Edward Craven Walker invented a novelty lamp that would captivate millions of people for decades. The Lava Lamp, as it came to be known, consisted of a glass container filled with colored wax and wat...Read more

How a psychedelic lamp became a cultural icon 🌈: The Lava Lamp. In 1963, a British accountant named Edward Craven Walker invented a novelty lamp that would captivate millions of people for decades. The Lava Lamp, as it came to be known, consisted of a glass container filled with colored wax and water, heated by a light bulb at the bottom. The wax would rise and fall in mesmerizing blobs, creating a hypnotic effect. So, what made the Lava Lamp so successful? In short, the Lava Lamp tapped into the zeitgeist of the 1960s and 1970s, when psychedelic culture, pop art, and space exploration were all in vogue. The Lava Lamp appealed to both the young and the old, the hip and the square, the artistic and the scientific. It was a symbol of creativity, curiosity, and fun. The Lava Lamp also benefited from clever marketing, celebrity endorsements, and word-of-mouth. It was featured in movies, TV shows, magazines, and even the White House. By the end of the 1970s, more than seven million Lava Lamps had been sold worldwide. In the end, the Lava Lamp shows us the power of timing. It also reminds us that sometimes, the simplest ideas can have the biggest impact. 👉 There are 5 variables that influence the spread of an innovation. Learn about them in this article: https://buff.ly/48xjfIf Follow me for more insights on #innovation and #innovationstrategy.

Mar 10 2024

When innovation disrupts the status quo 🏠: Airbnb. In 2008, two broke designers and an engineer had an idea: renting out air mattresses in their apartment to travelers who couldn’t find a hotel room. They created a website called Airbedandbreakfast. com and launched it during a design conference in...Read more

When innovation disrupts the status quo 🏠: Airbnb. In 2008, two broke designers and an engineer had an idea: renting out air mattresses in their apartment to travelers who couldn’t find a hotel room. They created a website called Airbedandbreakfast. com and launched it during a design conference in San Francisco. They made $1,000 and met some interesting people. But they didn’t stop there. They saw an opportunity to create a global platform that connects hosts and guests, and offers unique and affordable experiences. They rebranded as Airbnb and started to grow exponentially. So, what went right? In short, Airbnb was innovative, adaptable, and customer-centric. The Californian start-up leveraged the power of the sharing economy and the internet to create a new market for travel accommodation. They created a trust-based community of hosts and guests, who could rate and review each other. They solved a real problem for travelers who wanted more choice, convenience, and value. They also solved a problem for hosts who wanted to earn extra income and meet new people. Airbnb became a cultural phenomenon and one of the most valuable start-ups in the world. In the end, Airbnb serves as an example of the importance of creating a truly unique and valuable product. Having a clear and compelling vision 🌎 that inspires the customers is key to success. 👉 There are 5 variables that influence the spread of an innovation. Learn about them in this article: https://buff.ly/48xjfIf Follow me for more insights on #innovation and #innovationstrategy.

Mar 3 2024

When innovation goes up in smoke 🔥: The gas-turbine powered car. In the 1950s and 1960s, several car manufacturers experimented with a novel idea: using gas turbines instead of piston engines to power their vehicles. They claimed that gas turbines were more efficient, more reliable, more flexible, ...Read more

When innovation goes up in smoke 🔥: The gas-turbine powered car. In the 1950s and 1960s, several car manufacturers experimented with a novel idea: using gas turbines instead of piston engines to power their vehicles. They claimed that gas turbines were more efficient, more reliable, more flexible, and more futuristic. But by the 1970s, the gas-turbine powered car was abandoned. So, what went wrong? The gas turbine was a device that used compressed air and fuel to spin a turbine, which in turn drove a shaft that powered the wheels. It could run on almost any combustible liquid, from gasoline to kerosene to perfume. It had fewer moving parts and less maintenance than a piston engine. It sounded like a jet plane. Sounds cool, right? Well, not so much when you consider the drawbacks. The gas turbine was very expensive to produce and operate. It had poor fuel economy and high emissions. It had a slow throttle response and a high idle speed. It was very loud and very hot. It was not compatible with the existing infrastructure and regulations. The gas-turbine powered car never became a mass-market product. In short, the gas-turbine powered car was too complex, too noisy, and too impractical and serves as a lesson of the importance of balancing your innovation with customer needs, market realities, and social acceptance. 👉 There are 5 variables that influence the spread of an innovation. Learn about them in this article: https://buff.ly/48xjfIf Follow me for more insights on #innovation and #innovationstrategy.

Feb 25 2024

When hype doesn’t squeeze out success 🍋: The Juicero fruit juicer. In 2016, this high-end, internet-connected home juice press was all the rage. Funded by top venture capital firms, it promised to revolutionize the way we make juice at home. But by 2017, the company was out of business. So, what ...Read more

When hype doesn’t squeeze out success 🍋: The Juicero fruit juicer. In 2016, this high-end, internet-connected home juice press was all the rage. Funded by top venture capital firms, it promised to revolutionize the way we make juice at home. But by 2017, the company was out of business. So, what went wrong? In short, the Juicero press was simply too expensive and too unnecessary. The Californian start-up collected $120M in VC for it's fresh-squeezed juice ecosystem. In a Nespresso style concept, prepared fruit came in pouches with different flavors, $5 to $8 each. The $400 wifi-connected juicer (initially $700!) would press the packs and empty its contents into a cup below. Nice idea for health conscious and time lacking individuals, right? Well, things fall apart 2017 when journalists and first-time customers realized that squeezing the pouches by hand had the exact same effect than using the expensive device. The whole concept was just a fancy way to serve pre-packaged fruit. Juicero closed its doors the same year. The Juicero press case serves as a reminder of the importance of having a real relative advantage over existing solutions when it comes to adoption of inventions. 👉 There are 4 other variables that influence the spread of an innovation. Learn about them in this article: https://buff.ly/48xjfIf Follow me for more insights on #innovation and #innovationstrategy.