Every innovation is born from a spark of creativity. The spark can be for an entirely new product concept, refinement of an existing product, or radical re-design of a something that is already in the market. The spark can come from years of experience in a particular industry, a dramatic personal experience, or just creative brilliance. The one place a spark of innovation cannot come from is a vacuum.
Innovation is a process, a collection of concepts fused together over time, refined and refined again until the optimal set of features delivers just the right value to a customer at a price they are willing and able to pay and which makes profit for the seller.
Serial innovators know that the first spark of innovation, while compelling at the moment, seldom reflects the final product that successfully penetrates the market. Bringing an innovation to market takes time, focus, resources, and persistence.
There are many great inventors in the world today, but only a few great innovators.
Read More about The Spark …
- Innovation & Insight
- Disruptive vs Incremental Innovation
- Platform vs Product
- Minimal Viable Market
- Aspirin vs Vitamin
- Embedding Viral Marketing into Product Design
image credit: candlewick press
Editor’s note: In this 8-part series, we are serializing Ken’s ‘actionable’ resource guidebook Selling Innovation. We kicked off the series with Selling YOUR Innovation. Please stay tuned for chapters 2-6, and the series finale: Start-up Checklist.
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Ken Smith, Business Plan Reviewer and Start-up Coach for Springboard Enterprises, served as Co-chair of CEO Service Committee for the MIT Enterprise Forum Cambridge; and is the author of the start-up resource guidebook Selling Innovation