The Art of Innovation

1. The two compelling statements are:

1. The product should provide meaning to its customers. It should be developed in a way to change the world or to improve the life of the people. Each product should have some precise goal and it should not be developed in a way to be slightly better than what is existed. It must be in the next curve of the current product and developed with deep meaning with intelligence to empower the people in an elegant way (T,2014).
2. It is most important to research the product by letting the customer to use it and to understand how the people get along with that. Creating a product with one single idea will not go right all the time. It is always important to understand the perspective of different set of customers towards the product and identifying the potential customers. Letting the product evolve with customer feedback will roll out as a successful product in the end (T,2014).

1. This helps to understand that the new product should always develop in a way to provide meaning to the customer. It should not be just a small improvement or slight changes in an already existing product or ideas. It should be more revolutionary than a better product. Money should not be the more important thing to develop a product, developing a meaningful product should be the most important thing. It is always better to develop a revolutionary product with some useless things in it rather than to spend more time in developing a perfect product. Each product should be developed and let it evolve with the customer feedback to make it as a successful one. It is more important to develop a product with uniqueness and more value. Inputs from different customers with different background and improving the product based on that is one of the most crucial step in developing a successful product. Pitching in the idea or product based on the potential customer, will attract them to try it (T,2014).
2. Guy Kawasaki, is an American marketing specialist, author, and a venture capitalist. The author is the chief evangelist of an online graphic design tool, Canva. He is a brand ambassador for Mercedes Benz, chief evangelist of Apple, Inc. and a trustee of Wikimedia Foundation (About,2018). The author’s talk helps an entrepreneur learn that innovation, motivation and success are very important to be successful and take the company to next level (T,2014).
3. Below is the list of learnings,

1. It would have helped Owen to concentrate more in developing a product of next curve or unique one rather than developing a product which is just better than the existing product by only price factor (Kander, 2014).
2. It must have avoided Owen’s assumption of price as an important factor for the customers. Getting the feedback and the reaction of the customer before investing huge money, would have helped to stand in a better position (Kander, 2014) (Barringer & Duane,2015).
3. Let the product to evolve based on the real-time customer feedback and coming up with the best shot before entering the market would have saved Owen from facing the financial crisis (Kander, 2014) (Barringer & Duane,2015).

References

About. (n.d.). Retrieved April 06, 2018, from https://guykawasaki.com/guy-kawasaki/

Barringer, Bruce and Duane R. Ireland. (2015). “Entrepreneurship: Successfully Launching New Ventures,” 5 th Edition. Pearson Publishing, Boston, MA

Kander, D. (2014). All in startup: Launching a new idea when everything is on the line. Hoboken, NJ: Wiley.

T. (2014, February 22). The art of innovation | Guy Kawasaki | TEDx Berkeley. Retrieved April 05, 2018, from https://www.youtube.com/watch?v=Mtjatz9r-Vc&t=110s