The Seven Principles for the Venture Inventor
We can predict the future and change it. Inventing requires prediction.
If a rising tide lifts all boats, perhaps a falling tide is not much fun. Astutely separating the fads from the trends, the venture inventor sees the trends and invents to better the future that’s coming.
Climate change is here to stay. Inventions that reduce greenhouse gasses are well received. About 3,900,000 babies born last year. Immigration is significant too. The millennial population exceeds the baby boomers. Inventions that help the baby boomers and track the millennials do well in 2016. Desperate nations need oil revenue. The USA team in the shale oil plays has disrupted the “Peak Oil” thinking and now the USA team can export to the world. The days of $100 oil are gone – for a decade. Perhaps forever as the world shifts away from carbon fuels. Lucky to see $60 a barrel. The French cry of “liberty, equality, fraternity” is being echoed by found again socialist democrats. That didn’t turn out so well for the “let them eat cake” crowd. Upward mobility inventions (nano degrees, new teaching methodology, simplification) that educate and lift opportunity do well. If it can be automated, it will be – see more jobs disappear – any rote job, and some fancy ones will be augmented. More long range medicine, fewer receptionists.
The “Oz Principle” lays out the case for and explains accountability. It is difficult to diagnose and repair problems without accountability. Accountability means taking responsibility for ones part. Accountable people make things happen.
Inventions fail because:
doesn’t work very well – (inventor)
poor quality – (maker)
too few buyers – (un-disciplined marketing)
poor margins – (cost accounting forecasts)
legal restrictions -(lawyers)
and many other items, from the details like web design failure to the big picture of wrong strategy,
Sharpen the Saw. A term borrowed from Stephen Covey. Learning is life long. Inventors cannot stop learning and continue to invent. Fundamentally, inventing is about learning. Learning what is needed, what works and does not work is fundamental to the invention process.
Best idea wins.
Founders disagree. The best course is to take the best idea(s) and implement. Which is the best idea? Perform SWOT analysis on the variations together.
Give. Inventors give.
Planning works. No road map is difficult.
Execution. Get it done.