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The theory that innovation is necessary to maintain a successful business has evolved into a rule, as companies rush to create the next big idea. But what happens when a company spends thousands or millions on an idea that ultimately fails?
Even the biggest brands, from Amazon to Facebook, experience failures in their attempts to innovate. Often, companies overlook consumer feelings, present their ideas poorly or simply introduce the wrong product at the wrong time.
When considering innovation for your own business, start with the consumer and why they would need this new idea in their life.
Learn more here.
– Keira Koscumb, The Pittsburgh 100