Teece’s win, lose, follow, innovate grid
Some people make new ideas useful. Others make new ideas profitable. The person who first invents something new is often not the person who becomes the most famous inventor. Just as the company who is first to market with a new innovation may not become the market leader. As an innovator, it is valuable to know the difference between winning, losing, following and innovating.
It is possible to be first and fail. It is equally possible to be second and succeed. Or third. Or fifty-third. To those who have invested heavily in being the innovator, it is hard to accept that someone else will ...