Just saw this on the FoxNews.com front page.
And the results... *DRUMROLL*
Our industry is one of the most conservative you will come across. Look at IT - look how keen they are to throw out the old and adopt the new. Medical doctors will go to professional conferences in order to learn up until the week before they retire. We don’t do that. We go to professional conferences to get drunk and find out what the competitors are doing. A constant refrain in our businesses is, ‘That’s too complicated.’ Do you ever hear an engineer saying, ‘That’s too complicated, I’m not going to build it’? Or an accountant saying, ‘That spreadsheet’s too complicated, do it again’? You don’t.
... People love the idea of innovation but they hate the reality of it...
I think there’s a tremendous amount of laziness in our industry - people don’t want their lives to be made complicated.
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...“people make shoes, not money”. Make something that is worth while and people will pay you for it. Figure out what shoes you’re good at making and then make them well. You will make money as a result.
Knowing in advance how you’re going to make money from snake oil may sound like you have a business model; what you have is snake oil. And that’s the problem you need to concentrate on first, the fact that you’re not creating anything of value...
What I am trying to do is to point out that sometimes we hold up innovation by concentrating on the wrong thing at the start. And sometimes it’s because of the anchors and frames of the way we do things.That's from JP Rangaswami's "Thinking about innovation and business models" post. It's a parable about the economics of innovation, told through the story of JP's personal stake in the long anticipated invention of the polypill. You can read the rest of it here.