Guy Kawasaki is a world renowned venture capitalist, Entrepreneur and thought leader; his thoughts on Innovation are some to be lead by. Here is a summary of the 10 Steps to Innovation by Guy Kawasaki.
It would also make an interesting proposition to watch the Video seen below;
- Make Meaning : Great innovations occur when you decide you want to make meaning in the world, that is you want to change the world. When you make meaning, it naturally brings in making money.
- Have a “Mantra”: Mantra is a Sanskrit term, which means “Sacred Chant about a thought” Mantra is a single phrase defining a business mission. Have a mantra of 2 or 3 words, instead of long mission statements. The idea is to keep it “Short, Sweet & Straight”.
- Jump to the next curve : Incremental improvements do not get you success, think beyond what would bring incremental changes. Think where your customers will get benefited from. Is it from the little changes you do in your product or creating a new offering which has a quantum jump in benefits. Say a 30 times jump.
- Roll the Dice : Create products that are DEEP, INTELLIGENT, COMPLETE, ELEGANT.
- Don’t worry be crappy : this is a very important aspect, when you are ready with a product which is say 30 times better, which is in the next curve, Go Ahead… Launch It. It might be crappy, never mind. Any product of that stature would get refined in due course.
- Let 100 Flowers Blossom : When you launch and sell a product with a specific utility in mind, customers may start using it for something very different. And that is absolutely ok. And that’s a learning.
- Polarize people : It makes sense to polarize people towards your product. Atleast they will pay attention. Being ignored is the worst thing.
- Churn baby churn: Refuse to listen to certain parties during development. Keep going with your plans. Once shipped you can start considering the feedback and improve.
- Niche Thyself: It’s very important to differentiate yourself from the crowd, Be Unique & Be Valued on the positive.
- Follow the 10:20:30 Rule; When you pitch follow the 10:20:30 Rule, 10 Slides ; 20 minutes of presentation : 30 points font / or 30 minutes of discussions / question and answers.