It sounds like a simple question, but it is a bit more complex. And after you answer the question, the second question is how do you know if you should develop the new product. I like to make things as simple as possible. When I was developing a stage/gate process at AlliedSignal, I heard a phrase that really stuck with me. When evaluating a potential new product, ask the ... [Click to Continue...]
Innovative Companies Attract the Best Talent
I saw this on LinkedIn just before I wrote this post. It was perfect. One of my connections posted this from one of their connections, and I didn’t really track back the exact source. Thank you Danielle for your comments! How do growing, highly innovative companies win? One of the most important differentiators is that innovative ... [Click to Continue...]
Cost Cutting or Innovation: Which One Wins?
The answer is; it depends. If you have a short-term situation where your business is really in trouble (for example a competitor announces a new product that obsoletes your best seller, or a patent issues that restricts your freedom to practice), then looking at a quick hit to reduce costs is likely a prudent business decision. When faced with a crisis, then short-term ... [Click to Continue...]
Replacing Your Current Products is a Must
On September 14, I introduced 7 reasons to jump start your innovation, R&D, or product development efforts. What I am focusing on is new product development, that is getting unmet customer or market needs into new products, commercializing the new products and capturing new revenues with improved profitability. Another important element of a robust product development ... [Click to Continue...]
More on the 7 Reasons to Jump Start Innovation
Last week I introduced 7 reasons to get your R&D or innovation process (or whatever your company calls it) into high gear To be clear, what I am talking about in this series is getting new products to the market. The focus is on increasing top lines sales, improving margins, and enhancing the reputation of your company. Having a highly productive product development and ... [Click to Continue...]