If You Want Potential Customers to Be Honest, Ask Open-Ended Questions

Three years ago, I was coaching a successful company that was very confused about the failure of a recent product launch. When I was first hired, they told me they were convinced they had done everything by the book. Before developing the product, the company held five focus groups with potential customers to make sure … Read more

Strategic Thinking: The Power of Questioning Your Assumptions

Many of our daily actions are habitual, meaning they are performed automatically and without conscious thought. It’s a useful way for us to save mental energy and streamline tasks that are performed frequently. These automatic actions are often based on our learning mental models, which are the assumptions, beliefs, and frameworks that we use to … Read more

How do you decide when to double down on an initiative or when to walk away?

This kind of strategic decision making is one of the top skills innovators must master. Here’s how I make the decision without letting my pride take over: Data-Driven DecisionsI insist that every project measure what I call Pivot Indicators. These are pre-defined metricsthat answer two important questions: “When will we know if it’s not working?” … Read more

Are You Fostering Or Killing Innovation In Your Organization?

Launching new products and services is the only way to stay competitive in the new economy. Unfortunately, most companies have a process in place that stifles innovation. I recently gave a TEDx talk titled “Our Approach to Innovation is Dead Wrong” about why our traditional thinking with regard to launching new products or initiatives is actually killing those new ideas … Read more

How To Significantly Reduce The Risk and Expense of Innovation

Corporate innovation is all the rage these days. With plenty of money and time at their disposal, employees have ample resources to create the next big thing. But before they commit too many resources to an idea, these intrapreneurs can learn a lot from successful entrepreneurs who operate with fewer resources. Innovation within a corporation … Read more

Your Customers Are Lying to You — Here’s What You Can Do About It

(Note: This is the second installment of a multipart series on conducting customer interviews and discovering true migraine problems.  And check out the first article in the series.) Ok, you’re on the bandwagon. You understand that you need to a get to a new level when it comes to understanding your customers and finding their migraine … Read more