Building a new business is tough. These strategies will help your startup succeed without a big investment. As many of my readers know, I usually write about strategy, innovation, and leadership. But recently I’ve been asked a lot about how I helped establish Praxie.com as a destination website for hundreds of best practice…
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Keep and develop your best people to create a high-performance culture and competitive advantage. Hiring good people is tough. Retaining your best talent can be equally challenging. In today’s disruptive world, competitive advantage relies as much on people as it does technology. So, how do you objectively know which people are your all-stars, especially in a bigger…
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Having worked with innovation teams from global companies like Visa, Colgate-Palmolive, Kimberly-Clark, Disney, Medtronic and many others, there’s one consistent success factor when it comes to innovation, no matter what you’re doing: it all starts with the customer. Companies spend oodles of time and money trying to understand customers. They conduct surveys, hire market researchers, run…
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You get what you measure, so make sure you’re tracking the right things. I’ve seen a lot of organizations create strategies, programs, and projects focused on optimizing operations, streamlining processes, and driving innovation. Leadership teams put lots of energy coming up with the next big thing. But amazingly few teams think about how they’ll measure…
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In 1998, Chuck Templeton started a company called EasyEats.com. I went to high school with Chuck. We discussed the business plan which included providing recipes, food critic review, and much more. He eventually honed the scope and changed the name to OpenTable. As you probably know, the company would become an icon for what it…
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Harvard Research Suggests Pessimism Is Bad for Business. Replace pessimism with “calculated optimism” for better decision-making. Research from Harvard University looked at whether people were afraid of various situations or objects, such as being stuck in enclosed places or coming face-to-face with snakes. These same individuals were asked to estimate the number of fatalities each year…
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‘Unconscious thinking’ helps you analyze data so you make the best decisions. I get asked a lot about how much to rely on data versus gut instinct when innovating the next big thing. I wrote about this extensively in my book Leapfrogging. The answer may surprise you. Disruptive Innovators Use Their Gut Apple never did…
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Successful strategy and innovation are about how fast you can become aware of your assumptions. When it comes to strategy and innovation, success depends on how fast you become aware of your assumptions and then modify them. But it’s a paradox: You can’t see your most fundamental assumptions until you overcome them. This means that you…
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Here’s how Amazon defines the ideal customer experience and then works backward to create it. Everyone wants to uncover the secret to the perfect business model that will unlock their true potential. The best business strategies focus on meeting and exceeding customer needs and expectations. This means envisioning customer problems as well as ideal solutions…
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All opportunities have uncertainty. Use a map to navigate it. Let’s kick-off 2022 with a useful tool. Here’s the downloadable Strategy Uncertainty MapI developed as part of my work with Praxie.com. The past two years were as disruptive as they get for both society and business. So how do you plan for the next year…
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