A quick little video hit on innovation from Las Vegas.
If you want to innovate, you must take risks!
Product lifecycle 2.0 and the era of instant obsolescence
This graph represents the model of product life cycles as taught in business schools for the last, oh, I don’t know, 100 years?
Companies would innovate, and introduce a new product. If it succeeded, they would experience growth. At some point, sales would peak. The product would then tend to become obsolete or overtaken by competitors, and sales would decline.
What a quaint model. Too bad it bears no resemblance to todays’ reality. Many industries are now finding that product obsolescence now occurs during the growth stage; in the hi-tech industry, the “decline” phase caused by instant obsolescence can even occur during the introduction,
Back in June, I was the opening speaker for the Consumer Electronics Association CEO Summit in Ojai, California, and spoke to this trend. At the time, Lenovo had just pulled the plug on a pad-like product, even before it was released, because it was obvious that its’ limited feature set had already made it irrelevant and obsolete in a very fast paced market.
The reality of today’s market is that of instant obsolescence, and if you want to master innovation, you need to think about how your own product life cycle is changing.
Here’s a video take that is worth watching on the trend:
Back to work, back to innovation
It’s the first day of school and my family is busy getting back to work and school and life in general.
It has been an extraordinarily difficult summer. My wife, two teenage sons and I were due to take a three week vacation to Europe in early August. Two days before we were due to leave, my mother in law had a massive heart attack and stroke; she died several days later. She was 90 years old and in failing health; although we expected a complex situation at some time, we still found ourselves in a state of shock.
The rest of the month was mostly taken up by moving my wife’s father into an assisted living apartment; he spent about a month living with us directly after the funeral. Time has mostly been a blur.
I’ve marvelled in the strength and inspiration of my wife and sons during this last month as they rallied through very difficult circumstances. It has been extraordinary time.
In any event, it’s great to be back in the office. I have a full set of keynotes lined up in the next several weeks, all of which provide opportunities to share more insight on innovative thinking.
Why innovation thrives in the building of sandcastles
I’m now into a bit of a slow stretch for some summer; postings here will be slow for a time.
Years ago, inspired by similar times, I wrote about how innovation thrives in the building of sandcastles. It was a great post — and it made it into BusinessWeek. I thought it a fitting post to leave here while I’m busy doing other things — such as building sandcastles.
With that line of thinking,. here’s my list of “10 Reasons Why Innovation Thrives in the Building of Sandcastles: and What We Can Learn From Such Creativity.”
- Hierarchy has disappeared: In most cases, there isn’t a boss, a reporting structure, or anything else that can cause organizational sclerosis. People just pitch in and do what needs to be done. The lack of a hierarchy is implicit to most successful teams.
- Creativity is implicit: Anyone can build a sandcastle. There are no rules or preconceived notions, other than some sand and water. The same thinking should drive corporate innovation efforts. Make do with what you’ve got and what you can find, and use creativity as your main asset.
- If it doesn’t work the first time, do it again: It’s inevitable that a rogue wave will destroy your work. This only encourages you to fix the design, or rebuild it altogether. Setbacks are meaningless, and indeed, are part of the plan.
- Experience doesn’t cloud insight: Parents listen to kids, kids get bored and move on to another rampart and do something awesome. The key to sandcastle building is the combined insight of several different generations: likely one of the most important foundations for success in corporate innovation today. (See my 10 Ideas post for more on this theme.)
- Everyone picks up on the passion: People just join in and help to build. Eventually beach-neighbors join in, and the growing castle becomes a big collaborative effort. Organizations that can build similar levels of interest in the concept of innovation don’t simply succeed: they exceed!
- Feedback is instant: You know right away how well your design works, particularly if it is at the waters edge, since everyone will make a comment on it as they walk by. That parallels’ the instantaneity of today’s markets: things are changing so fast, that you must have a constant ear tuned in to understand what your customers are telling you.
- Competition is easily scoped: Need new ideas? Want to learn from the competition? Spend a few minutes walking up and down the beach and check out the other sandcastles. Study their design, their assumptions, and see how you can improve upon them. Do the same in the corporate world: develop a finely tuned radar that signals to you how and where your world is changing.
- No idea is too dumb: There’s not a lot of criticism and bias in the building of sandcastles. Any idea is welcomed. People can contribute the skills they have. Everyone is a designer, a builder and an owner. Somehow the combination just works.
- The reward is clear: At the end of the day, a great sandcastle provides a sense of accomplishment. Photos are taken, and the team talks about the experience. That’s why every innovation effort needs to be celebrated, highlighted, and championed into the corporate record.
- It’s fun: Enough said. If an organization approaches a problem the same way, innovation and creativity can thrive.
Video: The collapse (and end?) of product life-cycles
At the recent Consumer Electronics Association CEO summit in Ojai, CA, I focused on how social networks are coming to have a huge impact on brand perception.
But aside from that main thread, I also concentrated on my message of innovation in an era in which “faster is the new fast.” Here’s an older clip that looks at what’s happening in the world of product innovation.
I pointed out to the crowd – which included the CEO’s of some of the largest digital technology companies in the world — that some product lifecycles are collpasing to ZERO. Case in point — Lenovo announced a tablet computer at the CES show in January. They dropped it after the iPad came to market, perhaps because it was bound to be a dud compared to the feature set of the iPad.
But maybe if they got it out sooner, it could have established a beachhead.
What do you do in a world in which a product is dead before you can get it to market? Innovate faster. Focus on fast. Do fast. Be fast. In the high velocity economy, speed and agility are everything.
The 10 Most Important Innovation-Themed Rock Documentaries of All Time!
With all the keynotes I do, I spend a huge amount of time on airplanes — and often end up going through a lot of video. As of late, I’ve seen a number of rock documentaries, and was struck by some of the unique innovation stories in these films. And so I’ve put this list together!
Start with the slide show on the image below: use the right arrow key to advance through the list! (SLIDESHOW)
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You can also continue reading the list below.
#10 Woodstock: 3 days of peace, music …and love
They figured out the HP InkJet business model, long before we even had personal computers
Innovation is all about risk, and Woodstock Ventures Inc. was all about risk. Everything went wrong — problems with ticket sales, the decision that the concert would have to be free, last minute problems that forced a change in concert location which drove up costs. They lost a ton of money on the concert — but made it up in spades with the film and album. Which is an innovation model that many would follow years later, with companies giving away printers for free, and making gazillions off the ink they would later sell you!
Key innovation lessons:
- Not every business model is certain: and sometimes, the success you achieve won’t be from what you anticipated
- Stephen Stills on fear: “This is the second time we’ve ever played in front of people, man, we’re scared shitless.” Most innovators are!
#9 The Sex Pistols: The Great Rock & Roll Swindle
Innovators often achieve massive brand success by being at the right place at the right time
Love them or hate them, they were certainly one of the most innovative rock bands of all time. They didn’t respect convention: they tore it up. They didn’t do PR — they redefined PR through their television appearances. They didn’t shy away from controversy — they created it. In a world of massive competition where brands are trying to stand out, maybe there’s a little bit of PR that everyone can learn from the Pistols.
Key innovation lessons:
- In today’s business social networked world, controversy stands out. I better the Pistols would have more Twitter followers than anyone on the Planet. Then again, maybe the social universe would just look at them as a bunch of wankers
#8 Wayne’s World
Innovation means dreaming big, trying hard, and if at the end of the day it didn’t work out, it will still be worth the effort!
Ok, so they weren’t a real band, and it’s not really a rock documentary, but it had to go on the list! Did you live the Wayne’s World experience? I did, as a part time roadie for two Kiss concerts during the 70’s. I crack up every time I see the Alice Cooper scene: that was me with the ‘backstage pass.’ Wayne’s World is an innovation inspiration simply because of the enthusiasm and inspiration that these two misfits carry about with them as they pursue their mission. of achieving great success!
Key innovation lessons:
- Goal oriented: “Let me bring you up to speed. My name is Wayne Campbell. I live in Aurora, Illinois, which is a suburb of Chicago — excellent. I’ve had plenty of joe-jobs, nothing I’d call a career. …… OK, so I still live with my parents, which I admit is both bogus and sad. But at least I have an amazing cable access show and I still know how to party! But what I’d really love is to do “Wayne’s World” for a living. It might happen, tsshyeah, and monkeys might fly out of my butt.”
#7 The Clash Live: Revolution Rock
Innovators constantly mix it up, change, evolve their product and style, and never go stale.
If a band can go from punk to reggae-oriented punk with a touch of Spanish flamenco, it’s certainly a leader in innovation. And Clash excelled as an innovative band because it’s music and lyrics also tied into the rage of the region: “Guns of Brixton” will always be a classic commentary on the mood of Britain during the race-infused riots of 1979. They came to influence everyone from the Beastie Boys to U2 to Green Day. This documentary shows them during their early years, full of energy, drive and innovative attitudes!
Key innovation lessons:
- Each and every transition the band made involved a huge leap in musical style and focus – they were naturals at innovation
- “Their music is an influential now as when it hit the scene some thirty years ago”
#6 Rush: Beyond the Lighted Stage
Real innovators stick with what they believe in, despite what they are told by others
When Rush first appeared on the scenes in the 70’s, they were told by lots of folks that their music — cerebral, deep, and complex — would never appeal to a big audience. They went on to record 2112 and instantly endeared themselves to an audience of hundreds of millions, becoming one of the biggest rock bands of all time.
Key innovation lessons:
- Don’t always listen to the experts:
- There always exists a market for a product that is unique, complex and unlike anything else out there! Product differentiation is a core innovation capability!
#5 Metal: A Headbangers’ Journey
Exploring and understanding the unique motivations of niche markets
The world today doesn’t consist of one generic, homogenous customer base. Nor does it exist in the world of heavy metal. In this documentary, you catch a fascinating glimpse of the many different genres and sub-genres, each with their own unique style, founding principles (or lack thereof), and unique audience value proposition. A must for those who want to understand how micro-markets are a significant driving force in customer innovation!
Key innovation lessons:
- From the Web site: “Sam Dunn is a lifelong Metalhead and anthropologist. In Metal: A Headbanger’s Journey, after years of studying diverse cultures, Sam turns his academic eye a little closer to home and embarks on an epic journey into the heart and soul of heavy metal music.” In other words, when it comes to innovation, research into niche markets still matters!
#4 End of the Century: The Story of the Ramones
They defined punk, before punk even knew it existed.
The most remarkable thing about this documentary is that the Ramones were clearly leaders at innovation. They defined the unique musical style that defined a generation of music; they defined the look; they defined the attitude. So much so that their style and attitude came to epitomize what it meant to be different! They weren’t afraid to experiment, even during their ill-fated sessions with Phil Spector.
Key innovation lessons:
- being innovative doesn’t necessarily mean huge success: maybe it is more important to influence and change the entire course of history instead. That’s what the Ramones did from a musical genre perspective
- despite setbacks, maybe innovators do get the respect they deserve in the end — which came true for the Ramones when they were inducted into the Rock ‘n Roll Hall of Fame
#3 This is Spinal Tap
“It goes to 11”
That’s a massive innovation that few other bands have managed to accomplish (let alone say with a straight face.)
Although a fake documentary, the lessons on innovation are countless. Don’t be afraid to try new things. Always be mixing up the stage performance with dramatic new initiatives. Don’t fear failure, but learn from it. And remember — keeping an innovation partnership together can be one of the most important things you can do.
Key innovation lessons:
- success doesn’t come all at once: it can take a long time. Be relentless in your efforts!
- Key line in the movie: David St. Hubbins: “It’s such a fine line between stupid, and clever.” That’s innovative thinking!
- Motivational moment: Ian Faith (head roadie:)
“For one thing that goes wrong… one… one single thing that goes wrong, a hundred things go right”
#2 Iron Maiden – Flight 666
If the business model isn’t working, change the business model!
The business model for concert touring has changed in massive ways; it’s more difficult for bands to launch a successful, sellout regional tours. So when the business model changes, make up your own!
That’s what Iron Maiden did — they had their lead singer — a pilot — fly a chartered 757 to stadium shows in 22 countries in 35 days, putting on a tour that might have been logistically impossible in the old business model of rock tours.
Key innovation lessons:
- when your business model changes — get ahead of it and define your own!
- innovation can be all about logistics — you can get out and do things you haven’t done before
- don’t wait for others to fix your “problems” — fix them yourself!
#1 Anvil – The Story of Anvil
Innovators sometimes take a long time before they achieve success
Anvil is a Toronto based band that toured with heavy-metal monsters such as Metallica during the 80’s. They never made it big. But they never gave up. This movie is their story — the story of true innovation heroes, who somehow succeeded to find success in the end — even if it more than thirty years!
Key innovation lessons:
- never give up
- be relentless in your focus
- don’t let the down moments get you down
- don’t do it their way – do it your own way
Notice of potential conflict: I was transitting through Toronto airport a few months ago, and saw Anvil at the gate for a Los Angeles flight. Turns out they were on their way to a series of concerts in Australia. I had to go up and get a picture, and told them, “I found your story to be one of the most compelling innovation stories of all time.” That’s where I got the idea for this blog post, and maybe I’m a bit biased in my choice for number 1!
What do you think? What other rock documentaries should be on the list?
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