One of the three key Slingshot principles for re-imagining boundaries is the embrace what I call “the innovation shortcut”: To link seemingly unrelated, already existing components to create new customer value.
I am pleased to announce the latest translation of my book Slingshot, which is to Spanish. I do a large amount of work in Central and South America, where interest in innovation and creative thinking is very high. This translation will provide a valuable resource for the application of the Slingshot Framework throughout the region. If you are interested in the Spanish version, send me a note.
Being relevant is more important than being best or being biggest. Counterintuitive to such managerial concepts as relative market share or operational excellence, it is not enough to have an efficient organization or to be the biggest or best within a traditional market segment. Instead, you need to continuously scan the horizon and shift course to stay relevant. In fact, being biggest or best may be a hindrance, because it impedes your ability and inclination to adapt quickly.
How can you continuously broaden the relevance of your business? By actively searching for and identifying completely new market spaces where your current expertise can be creatively applied. This process of ongoing discovery is aided by the Accordion Chart, a visual mapping process that I describe in my book Slingshot.
A fun example of how to expand the definition of your business is the Italian design firm Pininfarina. Pininfarina is most famous for designing some of the most iconic Ferrari cars. Yet one of its most recent innovations, cross-applying its automobile design expertise, is a completely new type of pen: One that works without ink and therefore never runs dry.
How can your business be a continuous source of infatuation for consumers? How can you hold on to their attention and affection?