THE NUMBER ONE STRATEGY FOR INNOVATION
The number one strategy for innovation development is
>>> Iteration. Iteration. Iteration.
If you continuously engage with actual paying customers, your solution will improve significantly.
This increases the likelihood of your product becoming successful drastically.
What not to do in 2024 is to rely on PowerPoint innovation.
Bring your product to market in one week only and test it with real-buying customers. That works.
P.S.
Yep, we did that wrong too, for years and had failure rates above 70%.
Do yourself a favor, do it better ;-)
βββ
Chances your innovation strategy is broken are 94%
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@larsbehrendt
Lars Behrendt
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ON A MISSION TO CREATE GERMANYβS MOST VALUABLE VENTURE BUILDER
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//CAREFULLY CRAFTED BUSINESS PLAN VS THE MARKET RESPONSE
I always hear it - we have a pretty good business plan.
And then again, I NEVER SAW a single business plan come to life 1:1
My motto:
Concepts, plans, and strategies are nothing more than guesswork when it comes to developing new innovative products and bringing them to market.
There is only one expert:
"THE ANSWER FROM THE MARKET"
No expert has the magic crystal ball and can tell you upfront if your product will succeed.
And if he tries to tell you the opposite...
RUN!
βββ
Chances your innovation strategy is broken are 94%
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SOMETIMES YOU JUST NEED THE RIGHT TOOL π₯
Your journey is not defined by your circumstances or abilities, but by the choices you make. Picture yourself as a fearless turtle armed with the right tools.
Enrich yourself by seeking knowledge and connecting with those who are smarter than you. Surround yourself with excellence and allies who bring out the best in you.
The right environment and direction can propel you beyond your limits, pushing you to innovate, adapt, and overcome obstacles.
Remember, every choice you make counts and shapes your path. They are the "skateboard" to your growth. All you need is a little push to soar high! π
βββ
Chances your innovation strategy is broken are 94%
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KEEP THIS IN MIND NEXT TIME YOU'RE DEVELOPING A NEW PRODUCT π₯
Self-doubt will kill more ideas than the market ever can.
Keep that in mind next time you're developing a new product.
Ask yourself:
Is it your fears, or is it something really tangible that you need to work on?
If it's your fear, go to market anyway!
P.S.
Yep, I did that wrong veeeeery often. With over 700 Innovation projects accomplished. Let me tell you it's almost every time about you and not the product idea.
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This is how you bring your ideas to market in one week only with the help of AI:
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INNOVATION EXPLAINED IN 60 SECONDS π€
Some of the most powerful innovations aren't new ideasβthey're unexpected combinations of existing ones.
See attached: the iconic Dirty Dancing lift scene, but with the muppet show music instead of the original soundtrack.
Same movements, different music = completely new emotional experience.
Your next breakthrough isn't hiding in the unknown. It's waiting in the remix of what's already in front of you.
βββ
Chances your innovation strategy is broken are 94%
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//TOLERATING BAD BEHAVIOR IS LIKE CANCER FOR A HIGH-PERFORMANCE CULTURE π€¦πΌ
Tolerating bad behavior is like cancer for a high-performance culture.
How do I know?
Make an educated guess!? π€¦πΌ
This was one of my biggest leadership failures - I was tolerating it because I thought I could be a better boss by tolerating bullshit in our company.
Until one day, an employee came to me and said.
"Hey Lars, I can no longer stand this. Please change it." π€―
With the day we changed that - our whole company culture changed.
P.S.
That day I learned:
Trying to be nice is NOT a valid leadership concept.
βββ
Chances your innovation strategy is broken are 94%
www.linkedin.com/smart-links/...
#innovation #innoweek #venturestudio #companybuilder #startupstudio #vc
Hi Guys,
First post.
New here.
Hope to find some valuable connections.