There’s two ways you can approach innovation. Wait for it to happen and live in its wake or lead the way and sail on uninterrupted water.
Companies like Kodak and Yellow Pages had the analogue world in their grasp. But during the digital revolution, they were complacent and fell behind.
They failed to continually survey their situation and look for creative, new ways to keep ahead of the pack. They didn’t muse it and they definitely lost it.
When Apple launched the iPod it wasn’t the first digital media player. But with a finger on the pulse of consumer tastes and a significant shift in thinking within the music industry, they created the first major online marketplace for content to play on their new device. iTunes. They did it again with the iPhone and the app store….
But this isn’t a modern dynamic. In the 1870’s Thomas Edison recognised that his new invention, the light bulb, would be useless unless there was an electric power system, which he then also created.
This goes to show that your pursuit of innovation doesn’t end with the launch of your new product or service, but actually begins.
Stay lean my friends.