Our guest is Urko Wood, president and founder of Reveal Growth Consultants. He helps companies find and capitalize on the best opportunities for innovation and growth using the “jobs-to-be-done” (JTBD) innovation approach. His promises to increase new product success rates 2 – 5 times over industry averages to over 80%. As you will see, a key aspect of his success is redefining common terms for innovation.   Urko states that if leadership teams want to drive innovation and growth as a repeatable business process, then they must establish a common language and process for innovation. This means getting clear about: What steps innovation entails and why executing them in the right sequence matters The difference between a customer need and a product/service solution The difference between innovation and creativity How to redefine your markets from the customers’ point of view, and more.   Time Stamps:   time stamp notes 0h 4m 16s Why innovation does not start with a good idea 0h 5m 25s “People don’t want to buy a ¼” drill; they want a ¼” hole!” 0h 7m 8s Important unsatisfied needs are opportunities for innovation and growth 0h 13m 29s What is a “customer need?” 0h 22m 10s Change management and innovation 0h 25m 9s How to redefine markets for innovation 0h 29m 29s How to size a market for something that doesn’t exist yet 0h 37m 53s How to know where value is migrating in a market 0h 41m 58s “Stump the Prof:” Urko addresses two challenges 0h 46m 20s A key reason why Steve Jobs was so successful. (Note: Urko pointed out that he misspoke when he said Steve Jobs was talking about the iPhone in a famous exchange with a confrontational stakeholder. The year was 1997 and Jobs was referring to another Apple product). 0h 53m 2s Innovation defined 0h 54m 41s Debunking the misbelief that “customers cannot tell us what they want” 0h 59m 19s 3 “workhorse” growth strategies JTBD makes possible 1h 4m 44s How to establish a valued and unique position in the market 1h 9m 53s A simple way that any business can use to drive innovation and growth 1h 11m 17s Impediments to innovation: conflating two experiments 1h 14m 45s What Thomas Edison really was doing during his 10,000 failed experiments 1h 18m 50s 2 key questions that elicit customer needs in any conversation 1h 20m 42s Another misconception: innovation is inherently risky     For more information you can contact Urko at: [email protected] https://revealgrowth.com/ 614-895-7680   This show was brought to you by two sponsors:   My free e-book MINDSET – 5 SIMPLE WAYS TO LOOK AT COMPLEX PROBLEMS and learn how to find a simple vantage point from which you can resolve challenges. “8 Steps From Chaos To Clarity and Calm: CEO Advanced Training” a course for business owners dealing with unforeseen problems that have surfaced as a result of success. For more information go to https://www.ctrchg.com/ceo-advanced-training/   Your feedback is important. Choose from the following options: place a review in iTunes, click on “leave a comment” below, send any comments along with your name and the show number to [email protected] or call us at 614-388-8917 and leave a message including your name, the podcast number and podcast title.   Listen to future episodes for our reply.

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