“Concept” or “Idea” is often assumed to be the key ingredient to building a successful business, and hence a lot effort is put behind securing the idea, patenting it and protecting it. But as the cliché goes “Ideas are dime a dozen“, and this is true.
In many cases the initial idea with which the innovator started the journey is not the idea that is successful, but it has morphed along the way to an idea that is more acceptable/appreciated by the target audience. And along this journey there are many challenges that the innovators faced. There were hundreds of strategic decisions/ choices that they made which shaped the idea itself and its revenue earning potential. And there were multiple change management situations that they handled well to ensure that roadblocks to innovation were removed ahead of time.
And it is truly the combination of all the actions/decisions taken during this journey starting at definition of the initial “Concept” to the recognition to sizable “Revenues”, are the key ingredients to building a successful business. Ideas on the other hand are just that, “Dime a Dozen”.
Through this blog I plan on discussing the different challenges and decisions that are required to be made from “Concept-2-Revenue”. There is no one size fits all, and this blog is not meant to be a holy grail. All it is a simple collection of various actions that I have seen lead to successful businesses.
Who should read this?
Business executives who are looking for innovating and developing new business opportunities. Who run into challenges when pursuing their innovation dreams and would like to learn from outside sources on how to solve some complex innovation challenges. Start-up entrepreneurs may not find this blog useful as they do not face many of the challenges/issues discussed in this blog (if they do then they should rethink their priorities/organization).
I hope you find this blog as entertaining and enjoying as I have found writing it.