Hidden in Plain Site
It's rather astonishing how many companies have blown the opportunity to stay at the forefront of an industry. One crystal clear example comes from today's book, Hidden in Plain Sight. The company in question is Sony. For years they were great because they realized people wanted music on the go. The Walkman was a smash hit, and they followed-up with portable CD players. But guess what happened? They stopped innovating. They were so blinded by success that they stopped paying attention to the "how, when, and where people wanted their music." And we all know what happened from there - iPod domination.
"Hidden in Plain Site" is a way to describe demand-first innovation. What exactly does this mean? Well, it basically means that the products and services you create are based on what consumers actually want. In order to achieve organic growth, you have to "become an unbiased observer of people's consumption and usage behaviors" in order create "new products, services, solutions, and experiences that truly enhance people's lives."
So in the book, we learn about how companies like BMW and Proctor & Gamble approach demand-first research and innovation. But I'm curious about your experiences. I'd like to hear how your company beat the competition by giving customers what they want. I'd also like to hear about times when your company lost out because the competition was more in tune with customer wants and needs. Head on over to the comments section and let everyone learn from your experiences...
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