In this podcast we talk about how not all innovations are created equal. We explain the three kinds of innovation: Market-creating innovation, sustaining innovation, and efficiency innovation and the role that each of them play. Different kinds of innovation create different opportunities with different outcomes for the entrepreneur or business owner.
In this episode, you’ll learn:
- How a “Market-Creating Innovation” creates new markets that serve people with new or more accessible products
- How a “Sustaining Innovation” make performance improvements to existing products or services
- How an “Efficiency Innovation” help a company do more with less
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