How do you get the world to beat a path to your door? You know the answer – build a better mousetrap.
When I read this article from Coatings Tech magazine online, I thought immediately of this phrase. The “open innovation” approach discussed in this article is a new spin on what I’ve called “building a better mousetrap” in the coatings industry. The authors of the piece emphasize how much competitive advantage is gained when we look outside our own company for the best ideas for new and innovative products and applications.
Before we knew what to call this concept, we were doing it here at Induron. We draw on many sources of information – raw material suppliers, the needs and desires of our customers, new technology we’re seeing in the marketplace, our R&D staff, and of course our sales force – for new product ideas. Then we’re nimble enough to develop, test and launch a product in six to 12 months. Continue reading Look for Innovation, and the World Will Beat a Path to Your Door