Creating Value Through Business Model Innovation

The Truth about Innovation Innovation is a fancy word. We therefore expect it to be well dressed, smooth talking and brilliantly executed. We like the good things in our lives to be clean and shiny. But breakthrough innovation is not smooth. It stutters. Portrait of an Innovator Linus Pauling was an innovator of historic proportions. One of his earliest and greatest breakthroughs was the discovery of the structure of hemoglobin. He was the most celebrated scientist of his day and a shoe-in for the Nobel Prize, which he first won in 1954. It was, in fact, two unknown postgraduates at Cambridge named Watson and Crick who utilized x-ray diffraction analysis to discover the helical structure of DNA. Testing and Learning The example of Watson and Crick is not uncommon. However, they also usually fail. Venture capitalists understand this. The reason is that prediction is difficult, for a variety of reasons. The Difference Between Strategy and Innovation Innovation has nothing to do with overall direction. - Greg

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