The damage caused by the coronavirus to businesses, employees, owners and entrepreneurs is colossal, and the economic loss will reach unprecedented levels. Every business segment, including travel, retail, technology, service, hospitality, manufacturing, education, real estate, financial and so many others are hurting, and it’s going to get worse. From every indication, it appears that we are […]
In addition to the immeasurable suffering and loss of life, the deadly coronavirus is already impacting the world economy, hurting stocks, halting travel and meetings, impacting the daily ritual of going to the office, and quarantining millions. Businesses worldwide are feeling the effect of these changes in behavior, and economists are predicting the virus will result […]
When innovating, companies usually focus on making their products easier to obtain, easier to learn and easier to use. Unless “ease-of-use” is the primary benefit or selling proposition of your offering, this thinking will hinder your innovation efforts. Of course, ease of use is a good thing, but it’s the tail, not the dog.
The primary driver […]
Managers who want to create new and innovative value do so with the set of tools and techniques available to them. However, to be successful at innovation, you need to know precisely what you are setting out to do and pick the right approach that can get you there. Your innovation efforts could fail before you […]
The way to inspire innovation within an organization is with clarity and conviction of a vision. You cannot tiptoe your way into innovation. You must commit to a clear direction so that employees, shareholders, customers and partners all share your belief. When everyone shares the same set of beliefs, the result is an unmatched innovation engine.
What makes certain entrepreneurs exceptional and drives them to mega-success, while others work just as hard but just don’t seem to get the breaks. My research shows that there are three foundational elements that are common across the most exceptional individuals in the world.
In an effort to understand the building blocks of excellence I have been […]
The most successful organizations (companies or teams) create breathtaking products we all love by having an environment where innovation thrives. These organizations have built a culture that encourages generating and pursuing new ideas and rewards experimenting with new approaches. The results are unmatched value for customers and unmatched profitability for organizations.
Think, for a moment, of the […]
Excellence, a word we use every day and a state we are always striving to achieve, is not a very well understood concept. There is surprisingly little research and science behind what excellence is and what drives it. With the exception of the vast number of motivational quotes we see everywhere, there is very little else […]
Does your corporate culture support or hinder innovation? Most companies have no idea.
Worse yet, many companies who invest in innovation often face a scarier problem: they believe the investments they are making—such as increasing R&D budgets or creating an innovation department or appointing an innovation czar—are helping them create an environment to stimulate innovation. In fact, […]
Corporations fail to innovate because they lose their most innovative talent. Internal innovators, the people most likely to create new value, find themselves leaving the company they work for to start their own ventures, often creating vast amounts of customer and shareholder value. This value could have been retained by the original corporation if it knew […]