Innovation, according to entrepreneur and author Alex Osterwalder, is what will ensure your business’ longevity and its success. Alex believes that successful companies are those that compete at the level of business model, not just at the level of product, or service, or price. Key takeaways: Creating an innovation culture Rethinking your business models Transcending industry boundaries Entrepreneurial CEOs don’t have to be founders Innovation needs money and power The monetary value of experience
Innovation, according to entrepreneur, author and co-founder of Strategyzer.com, Alex Osterwalder, is what your business needs for longevity and success. Alex believes that successful companies are those that compete at the level of business model, not just at the level of product, or service, or price.
“Innovation is not a talent or idea problem. It's a process and culture problem. Companies are not putting in place the right systems for the great innovators and great ideas to emerge. People on the ground know very well what could work, but we don't give them the space to explore. And if that doesn't change, a lot of companies are actually going to pay the price and go out of business.”
Alex knows what the challenges are in driving innovation. He knows what needs to be done in terms of structure, power and resources. And he knows how company culture fits into a business model. And in this incredibly insightful episode, he shares his thoughts and actionable processes with listeners.
“An invincible company has three characteristics - they always reinvent themselves, they compete not just on products, technology, price and service, they compete on superior business models. And they understand transcending industry boundaries. People who see themselves in one industry, usually that's not going to play out well in the long term.”
It’s a slightly longer episode, so make sure you’re sitting comfortably, and don’t forget to bring a pen and paper, you’ll want to take notes.
On today’s podcast: