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Innovation

Innovation means finding ways to improve your products and processes -- nurturing innovation can give your company a killer competitive advantage.

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The last few years have had a serious impact on how people spend money. It’s a myth that bringing a product to market is costly. Soon after I designed my first product for...
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If you’re a small business owner or entrepreneur, chances are, your budget is limited. Being frugal is a necessary reality, but it shouldn’t come at the expense of seeking out valuable information and...
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On a recent JetBlue flight from NYC where I had lunch with Tonya Lewis Lee, I watched for the first time (at least as long as I could stand it) The Real Housewives...
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Someone asked me the other day what I believe differentiates some of my most successful students from other inventors whose inventions, however well designed and talented, just don’t seem to be making it....
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Part one will deal with the myths associated with family-owned business and the obstacles and challenges they deal with that can inhibit the firm's ability to grow.
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The same problem seems to plague many of the students I mentor. They’ll have begun working with a potential licensee, only to see the process stall and sputter. The company has told them...
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It used to be that if you didn’t have a business card, you weren’t really in business. Today, the same is true of a web page. If you don’t have a website and...
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Businesses can learn a lot about creativity, innovation and profitable growth from the Art World.
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On Tuesday October 26th, the Wall Street Journal published an article I think most forty and fifty year-olds would agree with. “Ghosts aren’t nearly as frightening as these characters,” the title read. The...
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Simple ideas are powerful. You don’t need to reinvent the wheel to come up with a successful and lucrative idea. A quote from Seth Godin, the author of Linchpin really captures what I...
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Dealing with change positively is a major key to success.
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Most people who file for patents don't know how their idea will be produced.
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By Sara Wilson |  Filed In: Buying a Franchise and Franchises
Start from scratch, take over an existing location, or convert an independent business -- which option is best for you?
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By Steve Cooper |  Filed In: Small Business and Company Structures & Ownership
Challenge.gov, a website where individual citizens and businesses can compete to develop winning solutions for a variety of real-world problems.
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Several weeks ago, I asked readers to submit their product ideas to me for review. I’ve posted videos of these reviews on our YouTube channel, InventRight TV, so viewers can get a good...
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MSNBC interview with the authors of Marketing Lessons from the Grateful Dead
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I’ve been approached by a number of inventors who want to bring their product to the market themselves and who have a lot of questions about doing so. Although my background is primarily...
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Three primary areas need to be explored: Innovation, Profitable Growth & People...
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Try to identify one or two things you want every audience member that listens to you to leave with, to remember and share with others. And deliver this information in a powerful, human...
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Businesses are quick to explain the lack of business or customers is due to the downturn in the economy, but others prosper. Which is it, a bad business climate, or bad business?...
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Business Glossary

Definitions for: diffusion of innovation
diffusion of innovation

describes the manner in which a product is disseminated in the marketplace. The diffusion of innovation spans an unspecified period of time from new product introduction through market saturation and affects the total sales level of a product. Diffusion of innovation relates to products such as the telephone answering machine, home computer, or microwave oven, which had few users when initially introduced but became popular additions to American homes over time.

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