June 13, 2016

You Need to Immediately Stop Believing These 5 Product Innovation Misconceptions – Entrepreneur

For many entrepreneurs, the process of creating and launching a new product or service is intense and intimate. Often, you’re so passionate about the idea that you believe its merits will be self-evident to prospective customers; that the innovation is so obvious and exceptional that it will sell itself. Confidence is good — until it gets in the way, causing you to forget (or neglect) one pivotal step in the process: monetization.

Read More

May 26, 2016

Your New Hit Product Might Be Underpriced – HBR

The odds are stacked against new products or services. Between 65% and 75% miss their revenue or profit goals, depending on whose research you look at. We have diagnosed thousands of product failures over the last 30 years, and have found recurring patterns. Often new products are over-engineered with too many features, usually at too high a price. Some products are truly innovative but stay walled up too long in R&D and then are released to market when they are no longer unique. Other failed products either answer a question no one cares about or are the wrong answer to the right question – Google Glass or the Segway personal transporter, for example.

Read More

May 19, 2016

What Pizza and Breadsticks Can Teach Everyone About Price Bundling – Inc.

Do you consider yourself a pricing guru? Someone who can take reliable data about what customer segments are willing to pay, and use it to construct a pricing plan that maximizes revenues?

Read More
FailurePic

May 13, 2016

There are Only Four Flavors of Monetizing Innovation Failure

The odds are stacked mightily against any company that launches a new product or service. Between 65% and 75% of new offerings fail outright or miss their revenue or profit goals, depending on whose research you look at. And the tab of those failures is hefty — $260 billion in the U.S. alone in 2010, according to University of Texas at Austin professor Rob Adams.

Read More

May 10, 2016

In Product Development, Let Your Customers Define Perfection (HBR)

In an era of high-stakes innovation, there is no clearer illustration of how to develop new products the right way (and the wrong way) than a tale of two car companies.

Read More