Validating your hypothesis with customers doesn’t tell you about market needs, just market reaction.

Many companies think they have learned about customer needs when they visit customers to validate their hypothesis or potential solution. They have not. They have learned about market reaction. To a single idea. Their idea. On top of this, it’s likely this customer reaction was distorted by confirmation bias.

More in white paper, Timing is Everything (page 15).

Innovation requires attention to both Problem 1 and Problem 2.

Problem 1—What’s the right question?—focuses on market needs. Problem 2—What’s the right answer?—is all about your solutions. Most companies put 90+% of project spending into Problem2, yet Problem 1 causes most new product failures. Hmmm… are you sensing a possible competitive advantage here? Will you explore it further? Will you seize it?

More in white paper, Catch the Innovation Wave (page 4).