On Innovation and its Value
April 25, 2006
Steve Rubel: “If they put their innovation where there mouth is, people will migrate because [existing successful startup] won’t be able to keep up because they’re primarily focused on managing growth. That’s the challenge in this Web 2.0 world. Someone can come along more easily and out-innovate you.”
Paul Graham: “Even when competitors realize your idea is good, (a) it will take them a long time to implement and (b) they’ll probably screw up critical things. […] Startups shouldn’t worry so much about competitors, especially big companies. Competitors are a second-order problem. Startups should worry more about making something worth copying and less about whether someone will.”
Vijay Govindarajan: “There are a lot of different things that fall under the rubric of innovation. […] Innovation does not have to have anything to do with technology.
Seth Godin: “Just because you’re a good cook doesn’t mean you should run a restaurant. And a restaurant that succeeds rarely does because they have special recipes. All the recipes in the world are free online. That’s not what makes a restaurant (or a business, for that matter) work.”
Innovation – Wikipedia, the free encyclopedia: Innovation is often confused with the term Invent which is defined in the dictionary as creating something new, something that has never existed before. Innovation is supposed to add value, but it can also be positive or negative. Most ideas generated through the innovation process are destroyed and organisations that do not innovate effectively are destroyed by those that do. Positive innovation can be defined as – the process of making changes to something established by introducing something new … that adds value to customers.