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​”I don’t want this new product to eat away at my existing business.”

We hear this a lot.

So many executives get caught up in the fear that new products will detract, or worse destroy, their existing business. Total or partial cannibalization can occur when a new product moves customers…


For the past three years both of my kids have been involved in FIRST — For Inspiration & Recognition of Science & Technology — a global organization with robotics programs for kids ages 4–15, aimed at introducing children to STEM careers through fun, hands-on learning coupled with real-world problem-solving.
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We often think of breakthrough innovations as starting from a single idea spark. Think of that stereotypical image of the ‘aha’ moment with the lightbulb turning on above someone’s head. In truth, according to Adam Grant at least, we need a lot of ideas to find ones worth pursuing. …


Productize: The Ultimate Guide to Turning Professional Services into Scalable Products

When the world shut down a year ago, business began to slow for many professional services firms. For many, the slowdown created an opportunity — or urgent need — to try to productize their services as a strategy to…


I was explaining to a client the other day that the biggest mistake I see companies make when developing new products is developing a product that does not solve an urgent and expensive customer problem. Turns out he’d heard me say that before. Many times.

This time, though, he asked…


It is so much easier to innovate new products or services when we stop trying to be perfect.

This can be really hard for those of us who have perfectionist tendencies. If you are familiar with the Enneagram, which is a personality framework, I am a “One.” The One-type is…


Imagine you run a marketing consulting firm. The firm has a market intelligence database and data analysis methodology that it uses as part of its highly customized consulting engagements. It’s pretty lucrative.
But you are finding that it’s hard to grow. The problem is the firm can only grow revenue…


For better or for worse, 2020 has shown us how important innovation is as a core competency. …


In this incredibly dynamic and rapidly changing environment, innovation is more complicated, but it is also vitally important for our organizations. For example, this year many of us have had to significantly accelerate digital transformation of our services, our products, and our delivery channels. …


Many times, big problems are solved with small tactics. For example, my phone chargers frequently frey at the connectors. However, a small tactic — covering the connector with the spring from inside of a pen — can prevent the frey. One broken pen saves me hundreds in new charging cords.

Vecteris

We help companies build forward-thinking products and cultures to positively impact the world we live in. Learn more at vecteris.com

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