How To Be (and not be) Innovative in Business

Your clients like what you offer. And you want to keep it that way.  But then, suddenly, your competitor metaphorically drives by in a shiny new vehicle with apps and features you had never considered. And now you also want that metaphorical new car.  How not to be innovative So you start developing your product…

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Where do you get your best ideas?

A global pandemic is a rare and unusual form of disruption.  Although the whole point is that we never see it coming. Disruption comes from unexpected places, and even hindsight is often short-sighted on learning its lessons. Let’s walk through three lessons from three highly disruptive episodes of recent business generations.  Disruption story one: Uber…

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When will your next competitor arrive?

The way other companies compete with you isn’t always about you.  We have already considered replacement competitors, generic competitors, and budget competitors.  What about your direct competitors? And in particular: the new ones that will show up just around the corner? How difficult is it to start your company? Barriers to entry What does the…

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Comparing to the Competition

You have heard me say it before: innovation is about customers, not the competition.  If you are looking at your competitors to decide your next move, you are doing it wrong.  But that doesn’t mean that there is never a reason to look at your competition.  Sometimes you just want to look and compare: so…

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Some people choose the generic option

Let’s be honest with one another: we all want to be the “premium” offer.  When we think of why people buy from us, we are hoping they won’t say “this is the cheap, generic option”.  But then, some buyers do want to buy the generic offer.  What is the difference between our offer and the…

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Anything worth doing is worth doing badly.

Is it worth doing? Then do it. In any way that you can.  Nike figured this out long ago. Want to get into better shape, want to learn a new sport, want to start a new fitness habit? Just do it. Buy the shoes and do it.  Because if it is worth doing, it is…

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How will your clients replace you?

Not all competitors are direct competitors. You are not only competing against people whose business cards have the same words as yours does. Your clients could also find a whole new option or direction that eliminates their need to hire you at all.  Understand how you can be replaced.  Replacement competition There are various ways…

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Can everyone in your business hear your customers?

Who talks to your clients every day? Is it you? Is it your salespeople? Is it the teams that serve your customers? Who listens to your clients every day?  What customer-centric means Being customer-centric is not just about appreciation gifts, cards on birthdays, and a friendly demeanor.  Being customer-centric means innovating for customers, not against…

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You don’t have to be an entrepreneur to be entrepreneurial

Have you ever thought to yourself: “I wish my employees were more entrepreneurial?” Immediately followed by the question: “If they were entrepreneurial, wouldn’t they start a business instead of work for me?”.  Not necessarily: there is a difference between the words entrepreneur and entrepreneurial.  Let’s explore it.  Know how to spot opportunities Let me start…

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Business Continuity: Why and How

The following is a recording of an online conversation I had with Tanya Osensky about business continuity: what it is, why it matters, and how to do it. I shared this as part of my Events list, but I am receiving always more questions about this subject matter, so it is worth highlighting as its…

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