A note from Daniel

Early on, when trying to get established in a segment, your innovation needs to deliver a significant—10x—improvement around a key evaluation criterion. The reason for that is that stakeholders tend to overvalue their current solutions. Economist John T. Gourville explains: "Consumers overvalue the existing benefits of an entrenched product by a factor of three, while developers overvalue the new benefits of their innovation by a factor of three. The result is a mismatch of nine to one, or 9x, between what innovators think consumers desire and what consumers really want."

Daniel Lean B2B, page 52 · January 19, 2024 Save to shelf
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