So you’ve got an idea for a revolutionary product that’ll make consumers forget they ever had a monthly budget and you just expect to sail on that to retirement? Maybe in the days when microwave popcorn was still hot, but not in this modern climate.
A new article from Fast Company has espoused the importance of adaptability coupled with innovation, a necessary combination for the modern inventor. In order for a new product from your brand or a new brand all together to survive, there must be a constant drive for differentiation from all of the imitators that will surely follow in your footsteps. Look at Tivo.
They were the first to offer the option to pause live TV, record, whatever. Fast forward 10 years and they’ve been left in the dust by the myriad of DVR options that followed in their wake. So what does it mean? As the FM article says, it isn’t about who gets there first anymore, it’s about who can weather the competition and emerge with the superior, enduring product in the end. To read this interesting article, click the link below.