Two Minute Drill: Value Innovation
This week’s Two Minute Drill is on location with Captain Alex and the Tiki Boat. Today’s conversation is all about value innovation, which is the simultaneous pursuit of differentiation and low cost. Make sure you watch until the end to get Dr. Jay’s book recommendation that just so happens to fit with his location.
Create differentiation at a lower cost
Examples of value innovation are the Mirror Home Gym and the Tiki boat Dr. Jay is driving in this week’s video. Creating exponential leaps in value by doing something different and doing it in a low-cost way is innovative.
Think about what you can do to create differentiation at a lower cost. If you are interested in learning more check out the book Blue Ocean Strategy that created this concept and fits with the theme of being on the ocean this week.