Minimum Viable Product vs Product Market Fit: which will move the needle in Financial Services?
The concept of a minimum viable product (MVP) is now pervasive. But it is not the only way to think about market development for new products. What’s the right way to be entrepreneurial, especially if you work in a highly regulated industry like finance?
The Culture of Innovation Revisited
It is easy to give a view on the important issue of how to create a culture of innovation. Rather more difficult is to clarify what type of innovation and culture change is relevant to any given circumstances. We are currently overwhelmed with messages to “fail fast” but that is just one culture of innovation and it hardly guarantees success. It's time to widen the agenda.
Manifesto: The Innovation Economy
For the past 6 years Hack and Craft has been building products for startups and helping corporations to launch new ventures. During this time we have helped create new enterprises worth hundreds of millions of pounds, but we have also seen many teams flounder and fail. The range of teams and the problems they address is too wide to determine any recipe for success, but we have observed some basic ingredients which are common to all disruptive innovations. The main pattern in the successful teams is a very high level of interdisciplinary collaboration and knowledge sharing. It seems that an essential ingredient for viable innovation is always the synthesis of knowledge from different perspectives. With this in mind we hope H&C News will provide a forum for this knowledge sharing and help foster the innovation opportunities that arise from it. Harry McCarney MD, Hack & Craft
The organisational roots of disruptive innovation
The classic definition on disruptive innovation has two main parts. One is the existence of organisations that have the power and resources to scale a new but untested technology; the second is that incumbent organisations focus on the current and near term needs of their existing clients. That means they spend their resources on responding to these with incremental or sustaining innovations rather than being radical.