How Business Innovators Get Great Ideas to Market

8/9/2019 How Business Innovators Get Great Ideas to Market

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How Business InnovatorsGet Great Ideas to Market


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1.The Impossible Dream

The innovator must have a unique vision.

Innovation without commitment dies on the vine.

The first movers advantage is real and valuable.

Sometimes, the innovator must be an

SOB.

The story ofTeflon

How the Remote ControlCame to Be- Lazy Bones Jones

Velcro- Recreating Natures velvet crochet

The surprise discovery ofMicro Wave oven

Birth place of newspaperUSA Today


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How the REMOTE CONTROL came to beEugene McDonaldandDr. Robert Adler

It was McDonalds dream to rid viewers of annoying TV commercials.

Decided to adapt tech. of remote units used by the military of that time.

Came up with a Hand Grenade style, wired remote- proved to beproblematic.

Then, made a unique wireless remote, using a flash light and photocells.But created problem when TV was exposed to SUN light.

Came up with an idea of using ultrasonic sounds. It was hit for 25 years tillthe infrared remote controls came to be.

The invention changed the way people lived and the electronics industryforever.

Today it is used in other domains such as house, garage doors, fireplaces,etc.

The remote represents power


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Herb Burdock been both blessing & curse to Humanity

It has high medicinal values but if you ever taken a walk in the woodsyou will get to know its negative qualities- sticking to socks and dogs.

But George de Mestral, turned this sticking feature of Burdock into amulti-million-dollar business.

Once, under a microscope, he found that each burr was covered withhundreds of tiny hooks that grabbed on to anything with a loop.

This gave him an idea which could create a new product to fastenthings together without the used of a zipper or button.

Velcro


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Called one of the most useful inventions of the 20th century, Velcro canbe found in a human heart surgery, in nuclear power plants, armytanks, etc.NASA even uses it on the inside of space helmets to provide

astronauts a rough surface to scratch itchy nose or chin.

Being a visionary is not often an easy thing. The very natureof innovation is that the innovator sees something

extraordinary where others see only ordinary


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2.

Radicals in Blue The radical idea is often met with scorn and the innovator

must meet that with patience and education.

Nothing beats good publicity for increasing acceptance of aninnovative product.

Innovators must use patents, trademarks, and copyrights

to protect their products.

Geodesic dome- Do more, use less

The revolutionary development ofViagra

Tampax (Tampons)- Changing the life of womenSilly Puttys wild ride


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The Experiment that created that GeodesicD

omeBuckminster fuller- inventor of the dome

This dome is quite unique as it can structurally take different forms. Byvery laws of nature, it encloses the greatest space using least amountof surface.

To comprehend how innovative the idea of geodesic dome is, just lookat the 90-degree angle buildings around you. This dome uses none 90-degree..

He was nonconformist.Smart enough to get into Harvard, butstubborn enough to get thrown out twice!! He always wanted to dothings his own way..

In early 1920s, he became part owner of construction company,Stockade systems..

He created a brick, only 2 lbs, unbreakable and required no mortar butthe product failed.


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He was hit with a second blow, daughters death and he cursed himselffor a less drafty home, the reason he thought for her death. Thus forFuller, innovation was born of desperation.

1927 Suicide attemptbut suddenly found himself suspended in airenclosed in a sparkling sphere of light- Life changing event.

He resolved, to do his own thinking and see what one individual,starting without any money, in fact with considerable debt- with a wifeand new born child could produce on behalf of his fellow men.

He committed himself to learn the laws of nature and create artifactsthat utilized those laws.

First invention- Dymaxion- doing the most with the least.A solution hefound to the American housing shortage of the Depression but soldnone.

3-wheeled Dymaxion car, 20 feet long, 11 passengers, and 120miles/hour was too a failure!!


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Though a failed business man, his ideas pulled him to Black Mountaincollege where he was invited to lecture..

There, he began to think of a completely unique geometricalarchitecture.A triangle shape rather than traditional right-angled,squared configurations.

Most considered it at first as non-sense.

4 decades later, researchers at Rice Varsity discovered CARBON 60,which when magnified was found to be made of interlocking trianglesand looking exactly like a geodesic dome.

Scientists named the carbon, buckminsterfullerene

At the end of summer term at Black mountain, he and his crewsuccessfully built a 14-foot dome.Not only it was erected quickly, itwas found to strong and cheap.


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He took 2 important steps innovator must take- he incorporated andsecond, applied for a patent.

It took time for it to market though. His first real break came when

Henry Ford ordered the dome for Ford Motors HQ.

From that point on, with backing of some one as influential as HenryFord, and with publicity, orders for the dome began to flood from allover the globe.

Think of it. We are blessed with technology that would be indescribable to

our forefathers. We have the wherewithal, the know-it-all to feedeverybody, clothe everybody andgive every human on Earth a chance. Weknow now what we could never have known before- that we now have theoption for all humanity to make it successfully on this planet in thislifetime. Whether it is to be Utopia or Oblivion will be a touch-and-go relayrace rightup to the final movement.


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3.If you Build It, They Will

Come

The attributes of a new product are not always obvious; it issometimes necessary for the wise innovator to teach peoplehow the product can benefit them.

Knowing what people want, like or need will enable you to

innovate in a way people will respond to. Know your market.

Know your limitations and bring in others who can fill yourgaps.

Divine intervention- Post-it Notes

Here Kitty, Kitty, Kitty- Creating a Demand forKitty LitterThe Mach 3 Razor- The Best a Man Can Get

Its Party time- Tupperware

The bristle brush


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The tall task of replacing the best men can get

The MACH 3 RAZOR Gillette is so committed to innovation that new products go on the

drawing board as much as a decade before they are introduced.

In may 1994, months before it first shipped its successful Sensor ExcelRazor in USA that plans were already underway for the MACH 3.

In 1971, it took the shaving world by storm when it introduced TRACII, the first twin blade razor.Again in 1977 it launched ATRA, the razorwith a pivoting head. In the same time, it launched disposable razors.

In 1990, after 10 years of research and development, it introduced itsSensor twin blade razor which could adjust to the shape of a mansface and resulted in better shave that its predecessors.

But as indicated, it never rests on its laurels. In 1990s, its scientistsstudied metallurgy, skin and hair to figure out if it could make a triple-bladed system to work.


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After years of research, computer design, human trials and lots ofscrapes, they came up with a 3 bladed-system which proved to bequicker, smoother and was found to cut 40% more hair than the 2-bladed system.

Mach 3 was introduced around the planet in less than a year. By 1999,Mach 3 blew away the skeptics and became a huge success.

Radically innovative marketing techniques are also sometimesrequired besides innovative products


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4.Money, Its a Drag

Whether you are on you own or part of a large corporation,allocating the necessary resources is critical to the eventualsuccess of the product.

Resource allocation also requires funding new and improved

versions of the product.

Run a lean ship.

Unless you are willing to strike out, you will not hit a homerun.

Bottom Up- Diapering with PampersThe Third Times a Charm- Palm Pilot(PDA)

The Trivial Pursuit-A board game

A Stroke of Genius- Liquid Paper(Whitener)


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BOTTOMS UPD

iapering a Nation with Pampers In 1956, Procter and Gamble (P&G) researcher Victor Mills was asked

to care for his newborn grand-daughter. Delight turned to despairwhen he found having to change the diaper, a messy, labor-intensiveunpleasant task.

Fortunately for him, he had a staff of able researchers to whom he

gave the task to create a diaper that is absorbent and leak proof, keepBabies dry and disposable.

The initial plan was to develop a highly absorbent and pleated pad thatwould be inserted into a specially designed plastic panty, but thesoaring temperatures made plastic panty uncomfortable.

They came up with a softer and more absorbent, with an improvedmoisture barrier between the wet padding and the babys skin to keepmoisture away.

At that time, there were no machines, so that had to prepare by hand.But positive response from parents compelled them to allocateresources to mass-produce the diaper.


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P&G invested millions of dollars in its attempt to create a viableproduction facility.

The next vexing resource issue they face was that mothers liked theproduct but were unhappy with the cost.

After researching, the marketing department, concluded that theyneeded to reduce price by 40% and to do that was to increase volume.

Finally, with price of 6 cents per unit and a huge financial gamble,Pampers went on sale in August, 1961.

Pampers was not only an innovative product, it created an entire

new industry. Today it is a $4billion business annually


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5.The Best laid plans of Mice and Men

An undercapitalized innovation can wreak havoc on allconcerned.

Jackals are waiting to steal you idea.

Unfortunately, innovating well and pricing the product tosell do not always go hand in hand.

PONG- Giving Birth to a Video Nation

Cola War Casualty- The Backlash Against New Coke

Mismanaging Innovation- The collapse ofDeLorean

Lisa- Computings Most Innovative Failure


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Computings most innovative Failure

Lisa Apple computer founded in 1976 was the fastest growing computer

company at that time.

With APPLE II, company had revolutionized the computer market.

Inspired by ALTO, a prototype machine of PARC, having features neverseen before, Apple was working on a new computer LISA.

For the first time, commercially available computer featured pull-downmenus, keyboard shortcuts, menu commands named New, Open etc,windows that zoomed open and closed, pictures that moved bypointing and clicking boxes etc. But all of this came at a price- eachLisa sold for $9995.

But it was too heavy, slow and too complex for software designers

Sales was a failure

Lisa II was introduced.


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Finally abandoned in favor of Macintosh

As is learned not everygreat innovation works because success isnotguaranteed. One must admire apples bold stroke because

without Lisa, there would never have been a Macintosh


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6.

Resistance is futile Expect resistance.

Bureaucracy is intended to maintain the status quo so dontexpect it to fall easily.

Publicity is a great way to usurp authority.

A Call to Action- How the Cell Phone Overcame Govt. Bureaucracy

The NewVolkswagen Beetle- A Friendship Rekindled

The Big Cheese- The Man Behind the Computer Mouse

Battling Depression- Resisting the Opposition to Prozac


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How the cell phone Overcame Govt. Bureaucracy Back in 1970s, Telecom was a highly regulated industry.AT&T was the

only long distance carrier.

The world was so different back then. If tuned to the far end ofAMband, once could pick up police dispatch calls.Such was the shortageof allocated-frequencies.

Motorola were developing 2-way communication devices but theproblem was lack of Bandwidth. They were being reserved by FCC.

On Motorolas petition to FCC, they disagreed to open up the lower endof VHF agreeing only for high end of the spectrum.

At that time, there were Mobile phones and portable phones. Mobilephones were constrained to use only in car and portable phones- whatwe call as cell phones were not even in existence.

But the mobiles phones were quite cumbersome to use.


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AT Motorola, Mitchell and his colleagues knew that an actually portablecell phone was possible!!

The engineers at Motorola saw what few others at that time did: Bytapping the 900 MHz frequency and installing cell towers thru out anarea, a usable cell phone system could be created that would able to

switch callers from one tower to the next, automatically.

How visionary? Even though there were no cell towers anywhere,even though FCC had to yet open high end spectrum, though noone knew what a cell phone was, Motorola and Mitchell knewthat cell technologywas where our future lay.

They pumped $100 million into development of its 900 Mhztechnology.

By 1973, they created a working cell phone by 1973. It took them15years from conception to completion.


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The company then sent its best people to Washington, D.C., asFCC announced to one up high end VHF Band.

Shockingly, FCC granted an exclusive license to AT&T. Motorolawas dumb founded and panic set in.

They had expended too much money, time and effort to let somebureaucrats stand in its way.After emergency meetings, theycame up with a secret game plan.

Motorola petitioned the FCC for reconsideration basically askingFCC to reverse its decision. They had no other choice. It sent itsteam to hearing a day early to get things ready, Part of thenecessary secret apparatus was placed atop a building near wherehearing was to take place.

The FCC commissioner however concluded that the decision waslikely final.


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Then came the master stroke.

Mitchell was allowed to speak. He slowly opened his coat pocket. In hishand was a large, white, boxy-looking phone with a little antenna ontop and a mouth piece at the bottom. It was wireless.

Commissioners had never seen anything like that ever. Mitchell said tothe commissioner to make a phone and he replied asking how.

Mitchell, then, demonstrated to hem and to AT&T what the futurewould look like.

Thus it was here at this reconsideration in 1973 that history was madewhen the first cell phone call ever in Washington, D.C., took place.


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7.

Patience is a virtue When it will take longer than desired to get an innovation to

market, it is incumbent upon the innovator to keep theplans secret; operate in stealth mode.

Teams are often more successful than a lone wolf,

especially when patience is required. Innovation that makes life better almost always will find a

market.

Worth the Wait- Barbies Long Road to the Prom

Polaroid Camera- Instant ImageThe FirstXerox Machine- The Slow Journey to Quick Copies

Liberating People from Wheelchairs with the iBOT


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The split second vision that developed into The

Polaroid Camera Back then, digital pictures, instant photography were a distant dream.

Before the Polaroid camera, photography was an esoteric, expensiveendeavour.

But Edwin Land changed all that

Land had observed that every invention must be startling, unexpectedand come to a world that must not be prepared for it. If world wereprepared for it, it would not be much of an invention.

Once, in 1943, Edwin while taking a snap of his daughter, she asked tosee the picture. He replied that it was not ready to which she askedhow long would it takeEureka

With in an hour after the question, the camera, the film and thephysical chemistry became very clear in his mind. He envisioned apocket-sized came that would allow the user to focus, shoot, and get afinished color picture in an instant.


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After 29 years of intense research, he was able to fully implement hisvision..

One hallmark of a great entrepreneur is that he knows his strengthsand weaknesses. Edwin knew that his strengths were in physics andchemistry and to turn his camera into a mass-produced market, he

called for Bill McCunes help.

By 1947, Edwin demonstrated a crude instant picture camera toOptical society ofAmerica..

A year and half later, the Polaroid camera, Model 95, four pounds inweight was sold for $100.

Edwin hired Harold Booth from Bell & Howell camera to headmarketing.

Booth had to sell a radically new product and also deal with lack ofmoney supply, so he came up with a marketing that would givePolaroid an aura HARD-TO-GET exclusivity and desirability whileattracting much needed free publicity.


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As a result of his genius, owning a Polaroid camera became for a while,being the first person on the block to own a TV set.

In first 5 years, half a million models were sold and 200 million snaps

were taken..Unhappy with the current model, he came up with PolaroidSX-70, a compact, elegant, integral and garbage free model.

The secret of his succes was that he always stressed on innovationover profits. Land used to say,

The thing that drives that analysts wild is that we growandgrow andgrow, not on that basis of the bottom linebut on the basis of faith, that if you do your job well thatthe last thing you need to worry about is money, just as

if you live right, you will be happy


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7 great lessons of innovation..

Think of Things That Never Were and Ask,why not?

The Power ofOne

Keep it simple, stupid

First is Best

Try, try again

Risky Business Synergy is necessary

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How Business Innovators Get Great Ideas to Market