25 years ago, I had the privilege of supporting Bain’s Fred Reichheld in researching one of his first books on loyalty. Fred would soon go on to invent the Net Promoter Score, but at this point he was still calculating the economics of customer loyalty. The math was quite compelling.
Clay Christensen taught me countless things, but there was one topic on which we always disagreed.
Imagine yourself in this situation: You sell a product that’s essentially identical to competitors’ offerings, at similar pricing. You have a massive core business serving a market that’s becoming gradually outmoded. What do you do to differentiate and grow?
Want to inspire others to innovate? Here’s a short excerpt from my book coming in April, The Innovative Leader, on how to do it:
A company with a truly great product – the InstaPot – is bankrupt.
