Friday, July 10, 2009

Rules of the Road

I’ve owned a few Chryslers and Dodges in my time so the slideshow “Chrysler: What It Was, What It Is, and What It Could Have Been” caught my eye.

The slides feature Chryslers new and old, and the accompanying text recounts some company highs and lows.

Scrolling through, several recurring themes jumped out at me.

• Rushing things to market by cutting corners usually results in failure.

• Maintaining the status quo not only forfeits a chance at leadership but
allows competitors to leave you behind.

• Getting things “half right” doesn’t make you “half successful.”

• Create what people want to buy. Developing high-demand products for previously un- or under-served segments of the marketplace pays big dividends. Of course this requires intimacy with the market.

• While “new for the sake of being new” may satisfy some internal company goal, it’s “timely innovation” (the right idea at the right time for a receptive consumer) that brings flush times.

• There’s a success/failure cycle: innovate, maintain the status quo, be outmoded (repeat cycle).

• Innovation is frequently rooted in simplicity.

I’m especially excited about the last bullet.

Are you, like me, encouraged to review all aspects of your product looking for simple innovations?

Where will you start?

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