468: Discovering the heart of innovation Part I – with Merrick Furst, PhD
Dec 18, 2023
auto_awesome
Dr. Merrick Furst, the Director of the Center for Deliberate Innovation at Georgia Tech, discusses the heart of innovation. Topics include diversity of authors, challenges in collaboration, startup and larger organization innovation, accidental vs deliberate innovation, discovering authentic demands, and understanding the customer's perspective.
Deliberate innovation requires understanding customers' situations, removing restraints, and finding the intersection between customers' deep hunger and the innovator's deep gladness.
Authentic demand stems from situations where customers have no alternative and not buying is simply not okay. By understanding customers' deep gladness and finding the intersection with the world's deep hunger, innovators can create products that customers can't resist.
Deep dives
Deliberate Innovation and Authentic Demand
Deliberate innovation involves identifying and meeting authentic demand in the market. The key is to find situations where not buying a product is not okay for customers. This goes beyond focusing on large problems or pain points, as the size of the problem is not the determining factor. The goal is to discover what restrains customers from achieving their desired outcome and provide a solution that removes that restraint. It is essential to understand customers' lives and uncover what it is that they really need and cannot do without. Additionally, seeking situations where customers are already impelled to act and offering a solution that aligns with their goals is crucial for successful innovation.
Accidental versus Deliberate Innovation
Accidental innovation occurs when a solution is stumbled upon without intentional effort. Deliberate innovation, on the other hand, involves intentionally and systematically addressing the needs of customers. An example of accidental innovation is that of a fish finder company, Humminbird. Initially, the company focused on building fish finders, assuming that customers wanted them. However, they realized that their product was not addressing the authentic demand of customers. By shifting their perspective and understanding that customers desired entertainment and a way to enjoy their time on the boat, Humminbird revamped their product to meet this non-indifferent demand. Deliberate innovation requires understanding customers' situations, removing restraints, and finding the intersection between customers' deep hunger and the innovator's deep gladness.
Challenging Traditional Approaches to Innovation
Traditional approaches to innovation, such as customer research and asking for pain points, often fall short of uncovering authentic demand. Showing customers a product and gauging their reaction is ineffective because customers are experts on their own lives and already coping with their current situations. Instead, deliberate innovation requires breaching traditional norms and engaging customers in conversations that help identify what makes not buying unacceptable. Rather than looking for big problems, pain points, or preference, the focus should be on finding situations where customers are already impelled to act but face constraints in doing so. Innovators must see customers clearly, understand their restraints, and develop solutions that remove those restraints.
The Importance of Not Buying Being Unacceptable
In deliberate innovation, the goal is to create a product or solution that makes not buying unacceptable for customers. This goes beyond finding a big problem or a pain point and focuses on the situation where customers can't afford to not take action. Authentic demand stems from situations where customers have no alternative and not buying is simply not okay. By understanding customers' deep gladness and finding the intersection with the world's deep hunger, innovators can create products that customers can't resist. It is essential to uncover what customers really need and remove any restraints or barriers that prevent them from achieving their desired outcome.
How product managers can create authentic demand Today we are visiting the topic that is at the heart of this podcast—creating products customers love. To do that, we are joined by one of the co-authors of the new book The Heart of Innovation: A Field Guide for Navigating to Authentic Demand. Our guest is Dr. […]
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode