“About 95 percent of new products fail.“ — Clayton Christensen, Author and Harvard Professor

“Innovation comes from saying NO to 1000 things.“ — Steve Jobs, Co-founder of Apple

It probably doesn’t seem like it, but the most important innovation-related decision any executive must make is deciding if they should innovate…

It’s difficult to pin down what exactly innovation is. With every new product being called innovative, is it market-speak for ‘new’? Is it another way to say ‘better’? The embodiment of a potentially novel or useful idea? Then there are the ideas of disruptive innovation and breakthrough innovations which imply…

I believe I am a very average innovator. Rather to say, that my experience in innovation is typical of most. I studied at a top school and earned an MBA. At times worked both for innovation consultancies and on in-house innovation teams. I’ve founded a startup and launched a joint…

Genius is 1% inspiration, 99% perspiration — Thomas Edison

Thomas Edison’s observation holds true for innovation as much as it does for genius. Developing “genius” innovations certainly requires inspiration, almost any innovator will tell you that inspiration comes from engaging with customers and end users. But the work that makes…

“Fail early, fail often, but always fail forward.” — John C. Maxwell

Failing fast is still a failure

“Fail early, fail fast” is a truism generally unchallenged by innovators. It’s unchallenged because it gives them an excuse for the consequences of making assumptions, or avoiding customer research, or ignoring the financial reality of the business case, or all of the above. Claiming a ‘fast failure’ gives the innovator the license to believe they were shooting for greatness and with time, with perseverance, with more resources, it will be achieved. But, leadership should hold innovation teams to the same standards of success as they would any other business function. Failing fast, or slow, can only be acceptable when there aren’t any consequences. Succeeding in innovation is critical, because failure in innovation, as in any aspect of business, has very real consequences to business and business leaders.

Marc Drucker

Proven business leader with a track record of creating, launching and growing consumer-driven brands.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store