Peter Drucker’s Advice on Innovating

  1. Organize and systematize the study of opportunities
  2. Understand how your customers perceive ideas, don’t just make assumptions.
  3. Always aim for simplicity. Things that are too complicated never take off.
  4. Start small. A bit of money, a small team, a focused market.
  5. Simple works. if it’s too complicated, it won’t work.
  6. Aim at being a market leader and a thought leader of your space.

What You Should Avoid?

  1. Don’t be too clever. Anyone should be able to understand how to use your product.
  2. Don’t diversify too early. Focus one thing at a time.
  3. Don’t innovate for the future, innovate for the world today.

Find Your Fit

To innovate, the opportunity needs to match you. It needs to match your skills, temperament, strengths, and knowledge. To put up with the inevitable disasters you’ll come across, you need to find something that you feel matches who you are at a very basic, fundamental level. But that’s not enough, your innovation also has to be connected to what the market wants. It has to be driven by demand.

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