Our Approach to Innovation is Dead Wrong
An interesting insight into how the method of innovation has led to misconceptions of a sure win for start up businesses in one go.
Diana Kander entered America as an eight year old year old resident od subsidized housing in Brooklyn, New York. By the time she gained citizenship she had perfected her skills as a capitalist and eventually became a successful entrepreneur who founded and sold a number of venture, and a Senior Fellow at the Ewing Marion Kauffman Foundation, the largest non-profit in the world dedicated to entrepreneurship and education. She was a Georgetown educated attorney who left the successful practice to launch her first company. A sought-out public speaker, consultant and writer, Diana has advised startup founders and Fortune 500 executives on her methodology for launching customer-focused products and services.
In her Talks she discussed how our learning environment is controlled and how there has been an increase in encouraging people to start their own businesses and provide proper guidance in how to succeed as a company, however, for an odd reason despite many opting to start their own businesses statistically there has been a decrease in start-ups of new companies and an increase in failing businesses. So that makes one think of why that is happening, why is it that despite following the course to start up a business to the letter not many are able to survive the market? Diana believes that it is due to the fact that most courses provide a standardised method to succeed which is to come up with a business idea, make a business plan, raise investment, build your product and then wait for the customers to come to you to buy your product. I had also come across this method before but never truly focused onto it until I heard Diana mention the last step 'customers will run at you with open arms all according to your plan'. When I heard that I thought this was ridiculous, how do you expect customers to crowd your stores when they don't even know you exist let alone the product you are selling and let's suppose that by some miracle they do know about your business and the products that you offer, what makes you so sure that your product is something the customers want? Diana believes the best way to have a successful business is trial and ever, instead of planning the one perfect proposal it is better to have numerous different ideas as it is not certain that that one plan will definitely go your way.
Diana Kander entered America as an eight year old year old resident od subsidized housing in Brooklyn, New York. By the time she gained citizenship she had perfected her skills as a capitalist and eventually became a successful entrepreneur who founded and sold a number of venture, and a Senior Fellow at the Ewing Marion Kauffman Foundation, the largest non-profit in the world dedicated to entrepreneurship and education. She was a Georgetown educated attorney who left the successful practice to launch her first company. A sought-out public speaker, consultant and writer, Diana has advised startup founders and Fortune 500 executives on her methodology for launching customer-focused products and services.
In her Talks she discussed how our learning environment is controlled and how there has been an increase in encouraging people to start their own businesses and provide proper guidance in how to succeed as a company, however, for an odd reason despite many opting to start their own businesses statistically there has been a decrease in start-ups of new companies and an increase in failing businesses. So that makes one think of why that is happening, why is it that despite following the course to start up a business to the letter not many are able to survive the market? Diana believes that it is due to the fact that most courses provide a standardised method to succeed which is to come up with a business idea, make a business plan, raise investment, build your product and then wait for the customers to come to you to buy your product. I had also come across this method before but never truly focused onto it until I heard Diana mention the last step 'customers will run at you with open arms all according to your plan'. When I heard that I thought this was ridiculous, how do you expect customers to crowd your stores when they don't even know you exist let alone the product you are selling and let's suppose that by some miracle they do know about your business and the products that you offer, what makes you so sure that your product is something the customers want? Diana believes the best way to have a successful business is trial and ever, instead of planning the one perfect proposal it is better to have numerous different ideas as it is not certain that that one plan will definitely go your way.
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