Every Innovation is a process. To be great at innovation, you need a great innovation process. Approximately 80% of new products face failure, so, likely, your innovation process frequently needs to catch up to expectations. One of the biggest reasons why innovation fails is that we often need to remember the purpose. The purpose is defined as the process of devising a solution that addresses unmet user needs. A great innovation process enables innovators to conceptualise products and services that they know, with a high degree of confidence, will win the marketplace - before any development begins. If you truly want to be driven by the purpose of innovation, follow the Outcome Driven Innovation (ODI). This strategy and innovation process is conceived through a Jobs-to-be-Done lens. The process employs qualitative, quantitative, and market segmentation methods that reveal hidden opportunities for growth opportunities that often go undetected when using traditional customer research methods. ODI boasts the industry's highest success rate. This success is attributed to its unique approach, allowing you to analyse markets, customer requirements, segments, and competitors with a scientific and predictive perspective, providing a solid foundation for the innovation process.ODI minimises the need for unnecessary pivoting and iteration by uncovering all the unmet customer needs before finalising product concepts. This ensures that you can establish a solid product-market fit right at the outset of the innovation process, well before the development phase commences. Over time, each product eventually becomes a relic of the past. CDs and MP3s replaced vinyl records and cassettes; eventually, these formats will become outdated. However, the obsolescence of a technology or product doesn't signify the disappearance of the market. Instead, it indicates that the market (the individuals who utilised the product to get the job done) transitioned to acquire a different product - one that assisted them in get-the-job done better.
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