Today’s Innovation Minute…
In the first video I introduced the FAST Innovation model: Focus, Ask, Shift, Test
Then I introduced the 5 D’s of Differentiation.
In a previous video I introduced this framework:
Today I discuss how to make sure your investments in differentiating capabilities don’t become core in your industry too quickly.
Be sure to watch the previous videos!
Transcription:
Today I want to talk about my three levels of innovation framework where we talk about support, core, and differentiating. And I want to talk about one specific aspect, which is the pace of change.
We need to recognize that whatever is differentiating today may become core in the future. That is, something that made us unique and special at one point is being replicated by others.
And this pace of change is causing us to invest a lot of energy and innovation that doesn’t sustain. We’re on a treadmill running really fast but not making a lot of progress.
So, as you think through your differentiator, and you think through how you’re going to innovate where you differentiate, make sure that what you are focused on is something which will stand the test of time. That it will be something, which differentiates you for a longer period of time.
I would argue, for example, with Apple their differentiator is not their technology. Technology is easy to copy. Their differentiator or one of their differentiators is their fan base. People are fanatic about Apple products, and will buy Apple products just because they’re apple products. Yes, they have to be great, but I will tell you that fandom is a very difficult thing for others to replicate.