Too Much Innovation And No Profits

from the the-innovators-dilemma dept

Here’s a theory. What if the world has too much innovation going on right now? Companies can’t keep up with the innovation, and customers can’t keep up either. Any company that does innovate faces almost immediate competition, and thus can’t charge anything extra for their innovation. It’s “innovation glut”. I think this is a little far fetched. I tend to think a lot of the “innovations” that are discussed are creative, but not great innovations. I consider a great innovation one that gives a company a real competitive advantage. These are still possible, but people don’t seem to spend as much time thinking through business models for innovations.

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Comments on “Too Much Innovation And No Profits”

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Ed Classic says:

Ideas are easy

Think about it — how many great business ideas have you had? How many great technology ideas have you had? Probably a lot.

What makes the difference is the drive and tenacity to follow-up on the profitable ideas.

Microsoft and AOL “gave away” their “innovations” (blech) because it served their ultimate business goals of market dominance. They draw people in by making the mass-appeal big-wow products free, then charging for the mundane-but-necessary parts of their service.

Simply having a great idea isn’t good enough. If it’s a good idea few will actually pay for (like a web browser), it must be tied to a more profitable product (like development tools). If it’s a good idea people WILL pay for, it must be completed, marketed, and maintained.

10% Inspiration, 90% Perspiration and all that.

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