Being highly innovative sounds amazing, but can be a double-edge sword without focus. As a business wanting commercial success, you must focus on solving a real market problem and resist the temptation of creating “cool and exciting” products for the sake of it.
Even when you have a validated market-ready product, the temptation to lose focus also manifests itself with each partnership prospect. It is okay to walk away from potential partnerships that force you to have to pivot in a way that does not align with your vision. As innovators, you can get excited about doing something new without realizing that you are compromising your product vision to align with the goals of a bigger partner. Not all the partnership announcements you see or hear about actually make financial sense for all involved. This about it…
You must leverage innovation within the confines of your well-thought out product vision to mitigate the risk of launching irrelevant products into the market or entering into wrong partnerships that derail your company vision. Focus…
