I have spent my entire career focused on innovating on both sides of the fence: as David and Goliath. I learned one key, and you won’t have to read the whole post to learn what it is: Focus on the ideal customers, maximize their motivation, address their fears and give them the tools to create value. This isn’t “a startup thing.” Most successful startups simply don;t have the luxury to lose focus. As a matter of fact, they keep learning more about their customers, learn how to predict success and nudge their customer through the optimal user experience.
Goliath’s Revenge gives you a look into success on both sides of the field, and makes it clear that incumbents’ strengths can be combined with start-up strategies to allow them to ‘proactively reinvent themselves’. Sneak peak at the Six Rules of Goliath’s Revenge:
1. Deliver Step-Change Experiences. A little better is not enough to keep your customers happy.
2. Pursue Innovation, innovate both top-down and bottom-up of your funnel.
3. Use Your Data as Currency. You own your data…use it.
4. Overcome the curse of ‘not invented here’
5. Talent over Technology.
6. Reframe Your Purpose, and have the guts to stay focused on what really matters
Treat yourself to this book; it’s a great read!