To Change the Game, Change the Business Model

ABSTRACT:
Yesterday, I was a judge for a showcase of projects from marketing students of a local university. Most of the projects that were pitched are apps that exist elsewhere in some form; nothing game-changing. There were many common innovation myths that were present in many of the pitches, such as “our competitive advantage is being the first ones in Mexico”, “our competitive advantage is there isn’t something like this anywhere”, “our competitive advantage is we have no competition”.

First of all, being first doesn’t matter; being right does.

Whenever situations like these come up, I tell people that they should remember about what approach to innovating they are taking. As a rule of thumb, there are three ways to come up with a game-changing innovation.

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