Exploitation, Not Innovation

It is exploitation, not innovation, that needs to be taught to boost our economy.  Boaz Fletcher, 44, a consultant to new companies in Israel, says “As a country, Israel is amazing at technology, but not great at building sustainable businesses," in the article Want to Graduate? Create a Company by Hannah Seligson in the Sunday New York Times, July 29, 2012.  This article describes how the Founder Institute teaches people how to start companies.

You hear a constant drum beat in the public schools for innovation.  America is awash in innovation.  What is difficult is picking the right product to promote, at the right time, and selling the product in sufficient quantities to sustain a successful business.  The judgement on which product will win and picking the right time are skills that are hard to teach.  But product sales and marketing can be taught.  The skills to create and run a company can be taught.  I have seen plenty of innovative people flounder and sink from poor skills in sales and business.  It is the successful exploitation of a product that is needed for success.

America needs more successful businesses.  To grow our businesses we need to focus our energies on the right skills to teach:  exploitation, not innovation.

Robert

A related article:
The Exploitation of Innovation  Saturday, March 13, 2010