In what seems to be a continuing series on how to innovate from within your company, I’d like to talk a little bit about what you can do with the things you’ve found. Sure, that unmarketable gizmo looks a little different now than it did when you originally put it on a shelf, but you still don’t know what to do with it. Maybe, instead of looking outward, look to your left and your right. It’s not only the mass of consumers that can benefit from your work. Other companies can make customers just as easily as any singular person.
Now that you’ve found something to work with, ask yourself, “Is there anybody with a problem that this can solve?” This is not an easy question to ask: by definition it’s not always easy to know what another company’s problems are. However, like with any other product, finding the niche for it to fit into will make it potentially valuable. Marketing your failed product or service around with a smart sales force actually might reveal where those problems are and put you in a position to take advantage of being the first to offer a solution.
Take some time to also consider what five other companies might want your product, either to use or to sell. Do some roleplaying and put yourself in the shoes of people like you, both competitors and non-competitors alike. How might a competitor approach the product differently? How do they generally approach things differently from you? What might somebody in another industry do with this type of service?
By thinking outside of your own company, you’ll find new markets to tap. Commerce doesn’t flow in a straight line from you to the customer. It branches along many roads of which you are a single hub. Consider your connections to the rest of the people in the corporate world and how what doesn’t work for you might be something they want or need.
