Innovation success – tip #3
Challenge yourself to completely alter the landscape.
When you take a look at how things are currently done in your industry, it’s easy to set about improving things in small ways. A reduction in costs here; a few new or better features there. These small improvements are what you see from successive generations of a product or service. But have you ever seen an industry disrupted or reshaped by a 3rd generation product?
To alter the landscape of your industry you need to set yourself a big goal:
- completely (or radically) reduce waste (however waste is defined for your industry) – this is how Malcolm McLean transformed the transportation industry with the introduction of shipping containers
- radically simplify the proposition – which is what Eastman Kodak did with their first all-in-one film cameras.
- mass-produce customised items – which is how Toyota’s manufacturing process works
- pay the customer to use your product, or give it to them for free – and make your money through advertising or other sources of revenue
- solve the problem around your product – which is what Nike did with Nike+
Set yourself a big goal, and whilst you may not get all the way there, you’re far more likely to make a major impact.