In today’s episode of the Idea to Value Podcast, we speak with Adam Malofsky, the MD of Elemence.
We speak about the need to understand your customers’ customer, and the theory of Adaptive Innovation.
Topics covered in today’s episode:
- 00:01:00 – How Adam’s father’s innovation journey helped Loctite succeed
- 00:03:00 – The best way to innovate is by finding the needs of your customers’ customer
- 00:05:30 – Why large companies often don’t look at discoveries and new breakthrough innovations which are still in research
- 00:07:00 – Adaptive innovation – What must be true…?
- 00:11:30 – Look for global needs first
- 00:13:30 – Most companies won’t invest in new technology without the guarantee of a gargantuan return, which they assume will not happen
- 00:16:30 – How to involve the people in your company who are closest to the customer in the innovation process
- 00:18:00 – Lack of innovation is usually due to a lack of time
- 00:19:30 – You don’t want to hire someone who has 30 years of experience in your industry
- 00:20:30 – Go and speak to the users
Links mentioned in this episode:
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Chief Editor of Ideatovalue.com and Founder / CEO of Improvides Innovation Consulting. Coach / Speaker / Author / TEDx Speaker / Voted as the world’s #5 Innovation blogger in 2016, I help individuals and companies build their creativity and innovation capabilities, so you can develop the next breakthrough idea which customers love.