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Is your super innovative company also super vulnerable?

Posted in: Uncategorized ♦ Thursday, May 10th, 2012, 12:55 pm ♦ No Comments
Is your super innovative company also super vulnerable?

Innovation brings progress and huge profits. Many say innovation is the best way out of the recession. But innovation is risky. Innovative companies have to bear the burden of teaching their audiences how to do things differently. Super innovative companies can also be super vulnerable.

Is your innovative company at risk of profiting or failing? How can you build up for success and reduce your chance of failure?

The secret to success is Mental Models. You need to understand the mental models of your customers.

What’s a mental model?

A mental model is a though process that someone habitually goes through when performing a task or responding to a situation. A person’s morning routine is a mental model. A person’s reaction to an email from an airline is a mental model. The way someone goes through a grocery store during her weekly shopping trip is a mental model.

Mental models are the frameworks of thinking that define how people act. The fact is, life is too busy and complicated to approach every situation afresh. So all of us form models in our heads then behave as if those models are the same ever time.

Old mental models and new products: A risky combination

Then, all of a sudden something new happens. A new fluoride wash is invented which requires a change in your morning routine. That airline starts emailing useful travel tips, not spam. The grocery store reconfigures its layout.

Companies that haven’t determined their core customers’ mental models are at risk of bringing new products to a market that is simply not prepared to deal with it. So any innovative company must understand its customers’ mental models before they start selling their innovations.

Now you know what mental models are and  how important they are. Stay tuned for our next blog in which we explain how to determine your customers’ mental models.

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