If
you want to lead the market, you
must be the industry leader in
developing radically new
products and services, new
market categories, new customer
desires, and new business
models.
The Importance of Being
First-to-Market
The first in has a head start.
Being first in any market
category is going to give you
the edge – being the
market
leader comes from being first.
It's much easier to get into the
mind of consumers first that try
to convince people you have a
better product or service than
the one that did get there
first. Once you are
perceived by the market as
the leader, it is very hard
for competitors to dislodge you,
as long as you keep
innovating, adding value,
and
improving your product.
Great businesses inspire
partners by amazing
opportunities and customers by
incredible products.
The early stage of the
new-to-the-world product process
is ripe with opportunity, but it
is also devoid of many hard
facts. Due to its high degree of
ambiguity, this development
phase is known as "the
fuzzy front end".
Focus on Creating Customer Value
A
new product is likely to
fail if invention and
uniqueness, not customers and
their desires, come first.
Create something unique to stand
out from the competition, but
focus your
new-product-development (NPD)
efforts on value innovation.
"You’ve got to start with the
customer experience and work
backward for the
design and the technology,"
advised Steve Jobs.
Create New Desires
As a developer of a new-to-the-world
product, you must be a market innovator and develop a new market
segment.
Keep in mind that when you create a
new-to-the-world product you must must create new customer desires
as well.
Another
way is to create an exciting
buzz
marketing strategy to make people curious and desire your
radically new product.
I developed special
marketing strategies such
"Icebreaker Marketing" and "Wood-Screw Marketing " and tested them
successfully on
my
'Blue-Ocean' innovations.
In brief, marketing and selling a
new-to-the-world product is a
creative synergy on art and skills – and a very exciting
process!
Leading and Coaching by Example
Everything genius is simple.
Simple is beautiful and
easier to use. I invented and use simple courses
and tools that help invent great new-to-the-world
products and commercialize these inventions.
My mini-courses Higher-sight and Super-creativity help
invent great new-to-the-world products.
KoRe Business e-Coach was a new-to-the-world product
when I launched in back in 2001.
InnoBall (Innovation Brainball) venturepreneurial
simulation game is a new-to-the-world product that helps
develop new-to-the-world products.
My InnoBall (Innovation Brainball) venturepreneurial
simulation game helps turn disruptive ideas to
successful new-to-the-world products.
"People don't pay for
technology. They pay for the solution to their problems or for something they
enjoy." ~ Dean Kamen
Tips
for Forcing Combinations
By Paul Sloane
Look for
combinations between your organization and every other
organization you come across. How could you collaborate with company
XYZ to deliver a
radicalnew offering to clients?
Consumer / Customer Insight
– understanding articulated and unarticulated needs.
Case in Point
Silicon
Valley Companies
Adapted from
Relentless
Growth, Christopher
Meyer
Decide if your innovation portfolio has enough
stretch.
Balance between revolutionary and
evolutionary initiatives. First, Silicon Valley companies assess the
overall balance between
revolutionary and evolutionary projects. The ultimate arbitrator of
portfolio stretch if the innovation leaders’ judgment, experience,
intuition, and luck.
Building a very strong company and a very strong foundation of
talent and
culture in a company is essential to
making great products.
