Innovation is often misunderstood as creating something completely novel and groundbreaking, but that’s a myth. True innovation comes from taking the 10% of what’s working and improving it by 90%. This requires a deep understanding of the industry, the customer’s needs, and the competitive landscape. By improving what’s already working, we can create a significant impact without wasting resources on untested ideas that may not have practical application or market demand.
The 90-10 approach challenges the conventional thinking that innovation must always involve a completely new idea. Many of the most successful companies and products today are not completely new ideas but rather significant improvements to what already exists. Take Apple’s iPhone, for example. It wasn’t the first smartphone on the market, but it significantly improved the existing technology and changed the game. This is the power of the 90-10 approach.
To implement the 90-10 approach, we must deeply understand the 10% that’s already working. This means studying the industry, the competition, and the customer’s needs. It also means challenging the status quo and not settling for incremental improvements. We must be convinced to pursue radical improvements, even if it means disrupting our business model or abandoning old practices.
The 90-10 approach is not just a philosophy; it’s a mindset that can transform our approach to innovation. By focusing on what’s already working, we can create a significant impact, differentiate ourselves from the competition, and create long-term value for our customers and stakeholders. Let’s embrace the 90-10 approach and unleash the power of innovation.
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