Monetizing Innovation

Chapter 14Implementing the “Designing the Product around the Price” Innovation Process

Time to come up for air.

You've been immersed for many pages in our theory and practice of how to design a product around the price. By now, you know the nine rules for monetizing innovation laid out in Chapters 4 through 12. The case studies in Chapter 13 have shown you how companies can make money—a lot of money—by following the rules.

Some of the preceding chapters may have challenged your most deeply held beliefs about monetizing innovation and innovation processes, and some may even have made you uncomfortable. If you've gotten this far, though, you're probably convinced that you should give it a try. We're eager to have you start.

If you're like any good executive whose company needs to innovate successfully to keep growing, you understand that knowing something is quite different from making something work. You should be (and probably are) thinking about the mechanics of implementing this proven approach. You're asking, “What should we start doing tomorrow?” If you've been through other transformations (because that is what this is), you'll be wondering, “What barriers should we expect to face? How can we overcome them?”

That's what this chapter is about: implementing the nine rules of monetizing innovation in your organization. We explain what you need to do, whether you're a billion-dollar company or a start-up and whether you sell products or services to consumers or to other businesses. ...