“Nothing’s new under the sun” or is there? Science has now analysed all existing matter into countless, smallest elements. What’s left and is hidden in plain sight? Synthesis! Innovation happens at intersections. Borrowing from your competitors is fraught with risk. It is illegal and at best makes you an imitator. However, you can steal from different industries. Picasso once said, “good artists borrow, great artists steal”.
Great opportunities exist in putting known elements in new combinations to solve unmet needs and anticipate customers’ wants.
Cirque du Soleil has re-engineered circus experience, creating a whole new market of circus-goers. Andre Rieu re-positioned classical music experience and filled stadiums with people who never listen to classical music.
Read more about 10 ways to innovate in business.