Winning and losing with innovation
Innovating is not the same as winning. The pioneer may be first, but not receive the greatest reward. It is commonplace for the newest to be ignored or imperfect. If ignored, someone else can learn how to better sell the new idea to make it popular. If imperfect, someone else can learn how to improve the way it works to exceed your giant leap with one little step.
Frequency – Consider different games along with strategy. Key participants – You and your team. Strategists. Leaders. Innovation rating – Innovation6
Blockbuster rejected the chance to buy Netflix for $50 million. It doesn’t seem such a smart idea now but Blockbuster had won its dominant position renting VHS tapes in retail outlets and didn’t see the ...