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Innovation Success – Chase the Money, Not the Technology

Contributors:
Manny Teran, Adam Hartung
Innovation, Success, Business, Money, Technology, Long term thinking,

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What separates the winners in innovation from the tinkerers, idea generators, and inventors you never heard of?  Great innovators keep focused on developing solutions people will buy.  Great innovators put the market needs first, and then start innovating.  Jeff Bezos and his development of Amazon is a case study in innovating for customer needs.Successful innovation requires tracking big trends, and thinking about how these will change customer behaviors and markets.  Innovators have to develop for the long-term, yet far too many are so focused on short-term results they don’t see long-term implications – and opportunities!!Success doesn’t come from hard work.  It comes from working smart.  Put your energy/resources into innovations, and projects, that are on trends in order to get the most out for the work you put in.  Takeaways:Don’t let your “passion” drive innovation.  Let market needs drive innovation.Don’t get so focused on short-term results that you don’t take time to focus on the long-termAre you tracking major trends and developing future scenarios based on those trends?Are you applying long-term trends to your business plans – skating to where the puck WILL be?