On average, you and your competitors will grow at the same rate as the markets you serve. Don’t feel entitled to this. If a competitor develops a blockbuster, you’ll be happy to minimize your sales decline. Thinking otherwise is like 1970’s Detroit auto-makers assuming Japanese competitors would keep producing junk.
More in white paper, Catch the Innovation Wave (page 15).
When you validate your new product concept with customers, they may tell you if it’s a dud. Great… you’ve avoided the error of commission. But what about the error of omission? If you first enter the customer’s world with B2B divergent interviews, you might learn of unexpected needs that lead to a blockbuster.
More in white paper, Lean Startup for B2B (page 9).
In the 1970’s, Detroit automakers didn’t realize they were in a battle for quality… but Toyota did. Do you know if your company is in a battle for innovation? One way to find out is to wait until a competitor upends your market with a blockbuster. Another is to start building innovation capabilities first.
More in white paper, Catch the Innovation Wave (page 3)