This week we have a guest blogger, Paul McKey, a business mentor at the studio. Paul is an artist, author and management consultant. Below he has articulated his research and experience of innovation and how it is developed and utilised in organisations.
Disruptive innovation is a term we hear on a daily basis. So many startups - especially tech enterprises - are talking about how their product is going to disrupt a market. After all, we are moving from an information age to creative age. But what is disruptive innovation exactly? Are all markets really on the edge of disruption?
A father and son from Byron Bay region have revolutionised an entire industry with their Flow beehive invention. A simple technique to harvest honey straight from the beehive without disrupting the hive.
It is the largest international crowdfunding campaign, raising over 10M US dollars and still counting.
Many startups fail from the get go by assuming "build it and they will come". Smoke testing instead is the first step in iteratively building something, by testing product assumptions even before the product is actually ready or even started.
This staged approach accelerates the learning process. It means testing the strength of an idea, get feedback, learn, iterate and test again. It allows you to build an audience in the process and generate awareness for your business.
A group of customers, usually the early adaptors, are given the opportunity to try your product and give feedback. It prevents building a product that your customers don’t want. The question here is: “if I would offer this product, would you buy it?”A smoke test begins by measuring one thing: whether customers are interested in trying a product. #juststart