- Segmenting the Hendrix fan [NYTimes.com] – “We believe that there is a Jimi Hendrix fan out there at 99 cents and at $9 and at $20 — all the way across the spectrum,” Mr. Block said. “We want to make each fan an appropriate offering. Is the complete Jimi Hendrix on vinyl something every music fan would want? Absolutely not. Would there be a market for it? Absolutely.”
- Jerry Seinfeld on ideas [NYTimes.com] – Whatever happens to “The Marriage Ref,” Mr. Seinfeld said that he was out of ideas now. “Ideas are a terrible obligation,” he said. “Who needs something else to take care of? I have kids. I’d rather nurture them than another idea.”
- The Disposable Film Festival – In recent years a new kind of film has emerged: The Disposable Film. It has been made possible by new media (webcams, point and shoot digital cameras, cell phones, screen capture software, and one time use digital video cameras) and the rise of online distribution (YouTube, Google, MySpace, etc.). These films are often made quickly, casually, and sometimes even unintentionally. Everyone has become a Disposable Filmmaker: directors of Saturday night cell phone videos, actors under the eyes of security cameras, and narrators before their webcams. Let's face it – we live in an age of disposable film. Now it's time to do something creative with it.
- How to Kill Innovation: Keep Asking Questions – Scott Anthony [Harvard Business Review] – Resource-rich companies have the "luxury" of researching and researching problems. That can be a huge benefit in known markets where precision matters. But it can be a huge deficit in unknown markets where precision is impossible and attempts to create it through analysis are quixotic. Entrepreneurs don't have the luxury of asking "What about…" questions, and in disruptive circumstances that works in their favor.
So what's the alternative? Substitute early action for never-ending analysis. Figure out the quickest, cheapest way to do something market-facing to start the iterative process that so frequently typifies innovation. Be prepared to make quick decisions, but have the driver of the decision be in-market data, not conceptual analysis. In other words, go small and learn. Pitch (or even sell) your idea to colleagues. Open up a kiosk in a shopping mall for a week. Create a quick-and-dirty website describing your idea. Be prepared to make quick decisions.
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