Elon Musk “outs” his 3 keys to innovation. The Tesla and SpaceX founder shared these insights last week during The Wall Street Journal‘s Annual CEO Summit. Elon’s keys with [my comments] are:
1. Have you tried it [OUT]? If it doesn’t work for you, then you can’t expect it to shine for others.
2. How can you make it better? Examine [and root OUT] negative feedback from colleagues, customers, and trusted mentors to improve as best you can.
3. Are you spending too much time in conference rooms? Theory is great, but [getting OUT and] investigating the actual product and its production process can yield better insights.
These comments back his claim of the M.B.A.-ization of America. In Musk’s words, “There should be more focus on the product or service itself, less time on board meetings, less time on financials.”
I would argue with Musk that he might be looking too narrowly. Beyond the product or service, you need to consider the entire experience and customer journey.
To quote American Marketing Association CEO Russ Klein from the foreword of Purple Goldfish 2.0, “It’s all about experience. Experience design is the next frontier for brand building. It’s on the fast track to become the most revered marketing capability for any—and every—brand.”