Innovation keynote speaker Jeremy Gutsche offers useful tips for brands looking to find their next big new business opportunity. Jeremy's award-winning book 'Exploiting Chaos' examines the story of typewriter company Smith Corona to demonstrate what happens when businesses grow complacent and fail to take chances.
"When you find something you're good at, it's like ending up on top of a new hill. At whatever it is you do, you become the best in the world. At any given point, it's easier to stay in top of your hill than to find a new place to climb.
For Smith Corona, their hill was the world of typewriters. At any point in time, the company's innovation teams could make a better typewriter. But any other project would seem like failure by comparison.
In retrospect, the computing opportunity seems obvious, but making kickass typewriters prevented Smith Corona from seeing any other opportunity."
According to Jeremy, finding that new hill will require you to walk through a valley and experiment in areas of uncertainty. Discovering your new hill will require you to fail, and probably more than once or twice.
Failing your way to success is an experience that will offer insight and knowledge that will be useful throughout your entire career and on your pursuit of climbing new hills.
For more advice on finding your new business opportunity, check out the FREE version of 'Exploiting Chaos' here.
Avoid Retreating to Your Comfort Zone
Fight the Confidence That You Know Your Customer
Throw Away Your Best Ideas
Cross-Pollinate Your Ideas
Innovate Inside the Box