You know what they say about assuming. In this series, Ron Price examines the 12 enemies of successful innovation. Enemy #2 is making assumptions.
Episode Transcript:
Enemy number two in the 12 enemies of successful innovation is making assumptions. It is so easy for us to think that we know what the market needs, that we know what our customers want. And we either don’t seek the data to back it up or when we go and seek that data, we use what is called a confirmation bias. We look for information that’s going to convince us that we were right all along in what we assumed. Many leaders fail to invest in the right way to get to know their customers, to listen to understand instead of to confirm, to identify the most important problems-to-be-solved, to eliminate the incorrect market assumptions, and therefore reduce the number of failed investments that we make. Making assumptions is one of the greatest problems with successful innovation because we keep inventing things that nobody wants. We solve problems that nobody feels! So when we quit making assumptions and we become students once again—curious, inquisitive, nonjudgemental—in listening to what our customers are telling us, it’s amazing what we’ll begin to hear. Enemy number two: let’s quit making assumptions to be more successful in innovation.
Discover the other enemies of innovation in this 90 Seconds of Innovation series here or by subscribing on Soundcloud, Apple Podcasts, Spotify, Google Podcasts so you don’t miss an episode. Tweet your innovation questions to @ebaiya. | Header Photo by Miguelangel Miquelena on Unsplash.
