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November 08, 2010


Oleg Tumarkin

But just because someone can come up with it, not everyone is positioned to take the innovation to market. The field of the potential innovators is actually fairly limited to the organizations that either possess or can attract the resources necessary to turn idea in to a true opportunity. The challenge is in identifying the right sized innovation for the capabilities.


There is no question that any problem that bothers enough people will be studied by many different people who might well come up with similar solutions. Yet, in my mind, today's challenge is less about being the first to solve the problem and more about having the resources and determination to turn the solution in to revenue pipeline. An example of periodic table of elements comes to mind. Before Mendeleev there were others who published their attempts at periodic table, but the stuff they had was half-baked and they lacked Mendeleev's credentials. So, 20 years after the first publication on the topic Mendeleev publishes his version, that is admittedly much more thought through and complete than previous versions and that publication changes the field of chemistry for ever.
Picking the right problem is crucial, having the best information and information processing tools and techniques is crucial, but having the capacity to get it done right and to roll it out in the way that resonates is most crucial of all.
Think of ipad which came to a well established tablet PC market and blew it away, or facebook in a world where friendster and myspace were dominating the market. It's not the first mover who makes a fortune, but the company with the best execution.

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