As Paul Graham said, the essence of innovation is to make something people want. Therefore, you don't have an innovation (or a business) until you have made something people want. Why then do we have so many startups and big companies out there claiming to be "innovative"? Let's explore...
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The point of the "Innovation 101" series on this blog is to demystify the term "innovation" and give you a real world perspective of what it's like to do this kind of work. One of the biggest fallacies surrounding innovation nowadays is the idea that everyone should think about doing a startup or learning to code because tech companies are hot on the stock market again. That's like saying that everyone should think about being an electrician back when Thomas Edison rolled out the power grid. Sure, there is unquestionable demand for these jobs, but that does not mean everyone is cut out to do them.
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Contrary to what the media will portray about overnight successes and savant teenagers who, during a single stroke of genius in their dorm rooms, create the next great multibillion-dollar company, the reality of innovation is that it's hard, really hard to do. To innovate consistently, therefore, is exponentially harder.
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When we talk about innovative companies, there's a perception that the whole place is inventing new ways of making life better for their customers, from the front desk to the CEO. The reality is that, in any company, there's usually a much smaller group whose job is to invent and prove new concepts. If they're successful within a small test customer base (a BIG “if"), then the new product gets rolled out to all customers by the broader organization.
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As we continue to demystify the term "innovation", it's important to look at why there is such a huge amount of focus and debate around this subject in the world. Why is every magazine cover talking about the most innovative companies? Why do brands throw the term in their slogans and CEOs constantly tout their company's "innovative culture"?
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