Podcast S3E48: Adam Malofsky - Innovating with your customers' customer

In today's episode of the Idea to Value Podcast, we speak with Adam Malofsky, the MD of Elemence. Read the full article: https://wp.me/p6pllj-1r6  We speak about the need to understand your customers' customer, and the theory of Adaptive Innovation. Topics covered in today's episode: 00:01:00 - How Adam's father's innovation journey helped Loctite succeed 00:03:00 - The best way to innovate is by finding the needs of your customers' customer 00:05:30 - Why large companies often don't look at discoveries and new breakthrough innovations which are still in research 00:07:00 - Adaptive innovation - What must be true...? 00:11:30 - Look for global needs first 00:13:30 - Most companies won't invest in new technology without the guarantee of a gargantuan return, which they assume will not happen 00:16:30 - How to involve the people in your company who are closest to the customer in the innovation process 00:18:00 - Lack of innovation is usually due to a lack of time 00:19:30 - You don't want to hire someone who has 30 years of experience in your industry 00:20:30 - Go and speak to the users Links mentioned in this episode: Adam's Linkedin profile: https://www.linkedin.com/in/adammalofsky/ Elemence Consulting: https://elemence.net/ Bonus: This episode was made possible by our premium innovation and creativity training. Take your innovation and creativity capabilities to the next level by investing in yourself now, at https://www.ideatovalue.com/all-access-pass-insider-secrets/ * Subscribe on iTunes to the Idea to Value Podcast: https://itunes.apple.com/gb/podcast/idea-to-value-creativity-innovation/id1199964981?mt=2 * Subscribe on Stitcher to the Idea to Value Podcast: http://www.stitcher.com/s?fid=129437&refid=stpr * Subscribe on Google Play to the Idea to Value Podcast: https://playmusic.app.goo.gl/?ibi=com.google.PlayMusic&isi=691797987&ius=googleplaymusic&apn=com.google.android.music&link=https://play.google.com/music/m/Ifjlz5o2w27yr4wn7belsne26oq?t%3DIdea_to_Value_-_Creativity_and_Innovation%26pcampaignid%3DMKT-na-all-co-pr-mu-pod-16 Want to rapidly validate new ideas and innovative products and GROW your online business? These are the tools I actually use to run my online businesses (and you can too): * The best email management and campaigns system: ActiveCampaign (Free Trial) http://www.activecampaign.com/?_r=M17NLG2X  * Best value web hosting: BlueHost WordPress http://www.activecampaign.com/?_r=M17NLG2X  * Landing pages, Sales Pages and Lead collection: LeadPages (Free Trial) http://leadpages.pxf.io/c/1385771/390538/5673  * Sharing & List building: Sumo (Free) https://sumo.com/?src=partner_ideatovalue  * Payments, Shopping Cart, affiliate management and Upsell generator: ThriveCart https://improvides--checkout.thrivecart.com/thrivecart-standard-account/  * Video Webinars for sales: WebinarJam and Everwebinar ($1 Trial) https://nickskillicorn.krtra.com/t/lwIBaKzMP1oQ  * Membership for protecting content: Membermouse (Free Trial) http://affiliates.membermouse.com/idevaffiliate.php?id=735  * eLearning System for students: WP Courseware https://flyplugins.com/?fly=293  * Video Editing: Techsmith Camtasia http://techsmith.z6rjha.net/vvGPv  I have used all of the above products myself to build IdeatoValue and Improvides, which is why I can confidently recommend them. I may also receive affiliate payments for any business I bring to them using the links above. Copyright https://www.ideatovalue.com