by Jeff | May 15, 2016 | Innovation, Innovation Book, Value Proposition
After talking about creating a value proposition and collecting a large number of ideas to improve it, the book has an entire chapter dedicated to the elevator pitch. An elevator pitch is a succinct, “pithy” summary of your idea told in 1-2 minutes. Hopefully you knew...
by Jeff | May 15, 2016 | Ideas, Innovation, Innovation Book, Value Proposition
The next section of the book is called “More Ideas for Faster Value Creation.” This section logically follows the discussion on compounding ideas because having more ideas is part and parcel to compounding ideas. You need both quantity and quality when it comes to...
by Jeff | May 15, 2016 | Execution, Ideas, Innovation, Innovation Book, Value Proposition
This is worth a second or third discussion because it’s so critical to innovation. How do you take a pretty good idea and refine it until it’s brilliant? The author’s lay out the following proposal: 1. Write* your value proposition. This is the NABC statement...
by Jeff | May 15, 2016 | Innovation, Innovation Book, Value Proposition
Compounding Ideas. I mentioned this in the last post, but the whole concept is worth repeating. This term is used to describe ideas which build upon other ideas. They are compounded in the same manner money is compounded, increasing in value and dimension. I...
by Jeff | May 15, 2016 | Innovation, Innovation Book, Value Proposition
So you have an understanding of consumer needs and what makes a good value proposition. That’s the “what.” But now…”how?” How do you go about developing and refining and good value proposition? There’s no doubt you’ve heard of and participated in brainstorming...
by Jeff | May 15, 2016 | Innovation, Innovation Book, Value Proposition
What consumer needs are important? The book cites a study which determined that you can easily consider more than 1,000 different elements when comparing hotels…price, location, pillow-fluffiness, convenient location of outlets (why does it have to be so difficult to...
