How does your company plan for the future? Rather than just conventional business strategy, add an integrated innovation strategy. Your best growth is balanced growth.
Platforms set a foundation to spawn multiple innovations. Take these eight actions to push your innovation beyond products to platforms.
Smart investors optimize returns by balancing risk. Spread your growth investments across a portfolio of possibilities. Consider this mix, across three horizons of risk & return.
Growth strategy depends on the simple yet elusive principle that supply must follow demand. To add innovation as a growth platform, design within the demand curve. Pull in users, partners and participants with gravitational attraction.
Richard Branson, much like Steve Jobs, made a virtue of failure. His high-profile successes overshadow the failures that taught him where and how to mine growth: fail fast, fail often, fail learning. Fail forward.
Stop selling. Start probing.
Find your buyer’s true pain. Fix that.
To build the platform everyone wants, plan the party everyone wants to attend. Then throw the doors wide open.