Innovation is important for startups to consider – new opportunities can present themselves, be found, or created, and these can provide a new basis to compete within a market.
Innovation opportunities
Innovation opportunities can present themselves in many ways – and part of the key opportunity is for startups is to identify new opportunities that others may have overlooked. As explored in the articles below, it is important to think broadly about innovation – new possibilities can arise in changes to the product, the business models, distribution channels, as well as adjustments to the breadth of other activities that firms perform.
Business Model Innovations
This guide explores the importance of adaptions to business models, and the opportunities presented by adopting a different business model.
Where innovation opportunities come from: Lead users
This article explores the opportunities and dangers of using lead users for business ideas and innovations.
Where innovation ideas come from: Other industries
This article explains how new products, technologies and business models in other industries and be an important source of innovation and fresh business ideas.
Where innovation ideas come from: Changes in a firm’s broad environment
This article explores identifying blue ocean strategies – markets without fierce competition – and the importance for startups.
Where innovation opportunities come from: Lead users
This article explores the opportunities and dangers of using lead users for business ideas and innovations.
Business Model Innovations
This guide explores the importance of adaptions to business models, and the opportunities presented by adopting a different business model.
Where innovation ideas come from: Other industries
This article explains how new products, technologies and business models in other industries and be an important source of innovation and fresh business ideas.
Where innovation ideas come from: Changes in a firm’s broad environment
This article explores identifying blue ocean strategies – markets without fierce competition – and the importance for startups.
Differentiation and the importance of innovation
One of the key reasons why innovation is important is that it separates the companies from others in their industry. As explored in the articles below, if you are able to develop new innovations that differentiate your company from others, now there are are specific reasons for customers to come to your firm over others.
The importance of strategic distinctiveness
This article explores the importance of strategic distinctiveness, and how it allows you to step away from direct competition.
Applying the Blue Ocean Strategy Approach to a Startup
This article explores identifying blue ocean strategies – markets without fierce competition – and the importance for startups.
The importance of strategic distinctiveness
This article explores the importance of strategic distinctiveness, and how it allows you to step away from direct competition.
Applying the Blue Ocean Strategy Approach to a Startup
This article explores identifying blue ocean strategies – markets without fierce competition – and the importance for startups.