DocAndersen
Sideways Pressure: Sideways pressure is always interesting. First in that it has the shortest lifespan. It’s often an intermediary step between upward pressure and downward pressure. Interesting in that catching the pressure when it is sideways actually can have a significant change of allowing the innovations of your organization to create a Blue Ocean[1].
The Pressure to Fund: There are many new capabilities for innovators that allow them to move out of large companies. In the past large companies (Kodak is the prime example) would support innovations but in the end, wouldn’t know what to do with them. Independent innovators have the agility to build and sell their solution. The pressure, however, is twofold here. If your project fails in achieving funding via Kickstarter or Indiegogo how do you raise money? There is the traditional Venture Capital market, but they expect a business plan and a market plan. VC’s like to see the TAM (Total addressable market). If the goal to innovate the reality for the Innovator is sometimes chasing money forces the innovto work for a company that will help the innovation come to reality. I call this the pressure to fund.
The Pressure to Market: Once you have your great idea you have to market that idea. The pressure here is a failure. There are thousands of great ideas that litter the floor of our world. That isn’t a bad thing. Seeing something that works on the part of what you see as a problem allows you to innovate the solution. Failure and the pressure to market are critical for the success of innovators. It’s just the early bird sometimes only gets worms.
[1] “The Blue Ocean Strategy” W. Chan Kim and Renee Mauborgne Harvard Business School Press
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Did you know that the red ocean (competition) existed?
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Yes
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No
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I know very little, but I learn a lot from you.
well, I know having read your works, that you know a lot. But I am blushing and thankful for your very kind words!
Very nice article. Thanks for sharing
Thanks. I am glad you found value here.
I am familiar with the principle, if not your terminology…
Thanks Alex, I was trying to use common terminology to convey the new reality for innovators.
I know diminishing marginal utility and that’s about it…
I suspect you know more than you are admitting. My impression is that you are a shadow thinker, and don’t often share your deepest views of the shadow.
okay, I know about ROI and such but I’ve never heard the blue sea red sea bit. the principles are known to me, just not by those terms…
The blue ocean theory is a fantastic book. It focuses on the reality of markets. The example they use is YellowFin (Australian wine). They advertised wine at beer prices and, created a new market in the US and other parts of the world.
it sounds interesting, I should probably read up on it…
I know that it is on audible (audiobooks) and has been out for a long time.
I will just see if the library has a copy
I am sure they do! It was nearly a bestseller at one point.
after I get my ducks in a row, I want to do a kickstart or patreon page so I should do some research about all that
Both are excellent (Kickstarter, Patron) I would warn you against Indiegogo, they still struggle with products delivering.
good to know. the IP would be a kinda flashcard game to teach hiragana and I’ve seen other games on Patron so that seems like a good fit
Sometimes I feel funny about innovation; without innovation the company will die but so many innovations often die too…
that is true, the funny thing is that innovations die regardless of funding model (big company R&D or Crowdfunding). The driver for innovation is market acceptance.
Yep! In fact, often the big of the marketing budget to influence market needs cannot change market acceptance.
The thing about marketing in the internet age is the reality of the concept viral. If something goes viral it may sell.
It is also now about placement (offsetting the cost of producing a movie, by having coca-cola being drunk by the lead character).
Sad, but we don’t live in the information age. We live in the marketing age.
You’re right, that’s our reality, but why does marketing that now prioritizes internet use often fail to save innovation?
IMHO
The innovation is early to the mass market – (early adopters are a small group)
The innovation is too hard to use (learning curve)
It becomes an excellent MBA thesis at that point. The reality of the market is more than the two factors i’ve listed, but those two can destroy a new product.
I assume that innovators always have pressure. Competition is very big today.
In fact they do, innovation is a tough game today.
Not familiar with the red ocean issue. I have lots to learn.
It comes from the book Blue Ocean Strategy, and refers to well, shark-filled waters (competition)!
Sadly there is a huge plastic island in the Pacific island. Additionally, whales have washed up on shore, having stomaches full of plastic (they can’t digest plastic) and literally starved to death.
Very professional article , thank you for sharing
Thank you. Innovation and innovators are a passion of mine!
For the first time I heard about the Blue Ocean Strategy,dear friend … this is a completely new topic for me
If you like business books, it is a very good one!!!!
As a pensioner, I do not need business books, my friend
Understood. Each of us has the things we love to do!