Monetizing Innovation: How Smart Companies Design the Product Around the Price
Surprising rules for successful monetization
Innovation is the most important driver of growth. Today, more than ever, companies need to innovate to survive. But successful innovation—measured in dollars and cents—is a very hard target to hit.
Companies obsess over being creative and innovative and spend significant time and expense in designing and building products,...more
From "Monetizing innovation" you will learn:
- how to validate whether your product idea is needed,
- how to check what parts of your product ...more
Some good insight on innovation failures, monetization models (+importance of setting the price in the early stages etc etc), also was nice to see the info on product configuration, market segmentation etc etc structured so nicely
At times the book felt a bit self-promoting and repetitive plus it occasionally ping-ponged with very trivial concepts. Not a bad book by any means, just felt it was more time consuming than it should have been (maybe not the case of a blog article, but cutting and ...more
I had to stop reading and go get a pen about 1/3rd of the way down page 4 because I had to underline something. WTF? I haven't underlined anything since 1993. It happened two more times on page 4 and once on page 5. Page 8. Page 9. Page 10 and 11, 12 and 13. Then I read Chapter 1 again.
The underlining and rereading continued through Chapt ...more
That pretty much sums up the book and the first chapter or the second is more or less quite sufficient to mark the book as read. Never the less, I completed the book for good measure. The writing style of the authors sucks, very very hard. Except one chapter with all the case studies about various ...more
The authors set up several commo ...more
Most people think that if you create/innovate with the goal of making money, then you are "selling out", if you do so you don't have "soul in the game". Yet, if you don't think about how to make money and if you don't factor in the cost/sustainability of your creations/innovations, then your probability of success will likely be close to zero.
The book has a gre ...more
In this way, it's a good follow up to The Lean Startup - both books try to prevent companies and people from wasting time on things no one wants buy building customer discovery into the process. Ramanujam takes this a step further by providing a process for creating products that will accomplish a company's goals, whether they're revenue, profit, market penetration, ...more
A great focus is given to pricing and innovative pricing models (which probably were more innovative at the time the book was written but not any more), payment mechanisms that align your customer's risks with your own, and charging as much as possible for the value generated to customers.
I'm probably reading this book at ...more
I am now convinced that the willingness to pay concept is a v ...more
Whether you build physical products, digital product and/or services your business growth by generating revenue. In order to do that you need to “price” your products. Most of us have, as this book clearly point out in the beginning, always left pricing to the very end, and lets be honest, mostly to chance.
This book will flip your mental model of how you build and price products.
Whether you are a Product Manager, in Sales, Marketing or the CEO of a company, this book is a MUST READ!
Building lots of things that people like costs more money than what people are willing to pay.
In order to solve this problem, you’d have to start from scratch and get feedback from the customer on what they would love? What they would be willing to pay? And work backwards from the customer; as opposed to creating a ...more
To be honest, this book could have easily been a really good blog post. There's a lot of fluff and redundancy. However, the concepts are really good and I do appreciate the abundance of case studies.
If you decide to grab it, don't feel compelled to read the whole thing. You can jump around chapters and check what interests you. ...more
Also, this may open your eyes on the reason behind the prices you see every day.
A must for every entrepreneur.
|Did anyone manage to set up their goodreads acount with their Amazon accounts for monetization, I need help on that||1||1||Nov 16, 2019 04:42AM|