Methodry founder Nathan Baird. Source: Supplied
Innovation could be one of the most important business, social and economic activities to be undertaken during these unprecedented times, yet our success rates at innovating are really poor.
According to Harvard Business School professor Clayton Christensen, 95% of new products fail.
What’s more, “most startups fail”, says Eric Ries, a startup guru and author of the Lean Startup.
Why do so many innovations fail?
Because too many organisations still waste their time inventing solutions for non-existent customer needs!
In other words, teams fall into the trap of ‘let’s make some really cool shit’ and ‘if the customer doesn’t like it, they just don’t know what is good for them!’
However, the reality is that more innovation and startups fail from a lack of customers than a failure of the product or technology.
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