Entrepreneur Magazine published an interesting article this month about a big-thinking American businessman named Steve Case (http://en.wikipedia.org/wiki/Steve_Case). The article describes how this man takes companies to the top time and again by, “throwing custom to the wind.” His platform is built on innovation and, like most businessmen, he turns ideas into money by staying ahead of the curve.
Here is my take on innovation. It’s a scary thing to invest time and money in something more than an arm’s length away from tried and true. A lot of companies don’t commit to such a decision because the risk is too great. Therefore, upon reading this article, I asked myself how I can anticipate the future and make good business decisions before anyone else. One solution I came up with is to determine if my idea conforms to the basics of human nature: Will my new idea be embraced by a wide spectrum of geographic cultures and lifestyles?
The world is truly small and getting smaller every day. With today’s increasing communication and awareness around environmental and political issues, one would be hard-pressed to find long-term success in any product or service that resonates poorly among a specific culture. If a business plan can meet the demand of customers no matter where they live, then I think its chances for success are unlimited.
Leave a comment as to how you deal with the obstacles of being innovative in an uncertain market.
-Lee Sumner, Market Analyst