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Is Innovation Dead?
We've all heard the line, "if you build a better mousetrap, people
will beat a path to your door." The belief behind the words is
that innovation is rewarded in the marketplace. Like most sayings
of its kind, it is both true and false. While most of us marvel at
innovation, few embrace it from the onset -- the electronic
mousetrap, the Edsel, sandal-toed athletic shoes, great TV shows --
the list goes on. Those few who support innovation have become
known as Early Adopters. In most cases, there are not enough Early
Adopters to support many products in the marketplace. So the
products die. Most of us are safe players. We'll wait for the
innovation to go mainstream and then buy it if it's still
available. This "safe player" mentality is supported by marketers
when they re-introduce a product as "New and Improved" rather than
launch a new entry. It is demonstrated by Broadway where there are
typically more revivals than there are new plays being
presented. Too much money is at risk to take the chance on an
innovation. That's the bad news -- it's hard to launch a truly
innovative idea/product/service. The good news is that playwrights
keep writing new plays, inventors keep inventing new products and
service providers keep innovating -- despite the odds.
Most new ideas, even the very best, face an uphill battle for
acceptance in the minds, hearts and pocketbooks of their
consumers. Those that survive often do so as a result of an
understanding of the commercialization process and hard, stubborn,
work on the part of their creators and backers, as much as
acceptance in the marketplace. Are you doing all you can to
nurture and support your innovative ideas so that they can be the
ones that become the products/services of tomorrow?
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