How to fail in Innovation?
Tivo failed as it could not capture the base of users. The following is the graph.
DVR market captured after TIVO collapsed. Tivo’s problem was , they are unable to market (even though they have great product)
Simon Langley way
Simon Langley is contemporary of “wright brothers . He is famous and rich, every one followed him where ever, he traveled.
Wright Brothers succeed as they have fashion of winning and succeeding without any success recipe.. They invented first Airplane . Simon did not try, he gave up.
1. Rather than having big-up-front plan and build model. Lean start-up uses “buiness model ” canvas
Eric Ries Lean Start-up
Minimum vaible product
A minimum vaible product (MVP) is the “version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
Basically we will create a just enough product on incremental way. The problem statements, basic steps are to implement basic simple web site, and do in SCRUM methodology.
This is new approach to commercial product development that would increase speed and flexibility, based on case studies from manufacturing firms in the automotive, photocopier and printer industries
The total product in “problem statement is broken into many “user stories” and, individual work packages. And in initial version, we will have basic web site ready. Once we kick start this, and we will have parallel developments.
We will focus and plan, such way that each sprint we will have working product. In this way we will deliver product in incremental way.