Why do 88% of Ideas Fail to Make it to Market?
The reason 88% of ideas fail to make it to market is companies have no system to turn ideas into marketable innovations.
Even though 87% of CEOs list innovation as a Top 5 priority 78% of companies have NO INNOVATION SYSTEM.
Do you think it’s a coincidence that 88% of ideas fail to make it to market when 78% of companies lack any innovation system?
Innovations produce 300% larger return on investment than capital investments. You can clearly see why CEO’s list innovation as a top priority. Innovation is the best source of profits.
Why don’t more companies have an innovation system?
First Step for Dental Innovation “No Cavity”
I had a cavity and the American dentist gave me only one option and I didn’t like it. I wanted better options. So I started innovating to satisfy my desire. Before you think that I started inventing something let me clarify innovation. Innovation is satisfying a demand. If you can find something that already exists and use it to satisfy the demand you innovated. So I began searching. The innovation I wanted was No cavity.
Since I wasn’t an expert on dentistry I did a little research to understand at a high level how dental caries (cavities) function.
Acid from bacteria eat left over food and cause decay in teeth. Your mouth has a natural defense for the acid. Your saliva is alkaline, it neutralizes acid. Unfortunately bacteria can stick to teeth blocking saliva from neutralizing the acid.
Saliva has another positive feature. If the infection that causes decay is caught early enough teeth re-mineralize all on their own using material in your saliva.
If too much damage is done there is a hole that could collect food and bacteria. Once that hole gets through the hard enamel, a cavity can quickly grow in the softer dentin. It’s still possible for a tooth to heal at this point but often some type of repair is needed. But most important is stopping the infection and decay.
Many cavities form in areas of teeth that catch food and are hard to clean. The tendency for bacteria to stick to teeth makes this even worse.
Functional Diagram
Taking all the information I gathered I created a Functional Diagram. The red boxes describe how cavities work. The green boxes describe the process of filling a cavity. And the yellow boxes show the natural process of saliva re-minerizing teeth.
The Functional Diagram give you a high level starting point to start looking for innovation alternatives.
What is Abundance?
Do you work, purchase, or consume anything? If so this new understanding of Abundance effects you.
“You keep using that word. I do not think it means what you think it means.” The character Inigo Montoya from the movie “Princess Bride”
In 2000 I began a project to change the world. My partner in this project was The Shad0w, contributor to the BitTorrent protocol and creator of BitTornado program. Napster and other peer-to-peer file sharing systems were in full swing and BitTorrent was just starting to catch on. At that point we realized that it was impossible to stop people from copying information. Music, movies, books, or software programs are all just information. Any information can be digitized. Once digitized copies are basically free. But we also realized that if people weren’t paid to make new information the world would stagnate. The entire legal system of intellectual property was based on restricting copies and now that was impossible.
While Shadow worked on BitTorrent and other technologies I worked on business models for this new world we were entering. I began researching, doing experiments and reexamining everything I knew about information. The result of that were several profound discoveries. One of them was a completely different way of looking at economics.
Predictive Innovation Training
Predictive Innovation: Core Skills Book
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