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Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work
     

Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work

by David Minter, Michael Reid
 

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Improve new-product success from 1 in 10 to 1 in 2 with a simple 7-step system.

Let's face facts: modern businesses don't know how to create products. "What?" you say, "That's ridiculous." But the truth is, 90% of new products fail in the marketplace. Would you accept 90% failure in any other part of your business?

There is a better way.

David

Overview

Improve new-product success from 1 in 10 to 1 in 2 with a simple 7-step system.

Let's face facts: modern businesses don't know how to create products. "What?" you say, "That's ridiculous." But the truth is, 90% of new products fail in the marketplace. Would you accept 90% failure in any other part of your business?

There is a better way.

David Minter and Michael Reid know innovation. For more than 25 years, they have contributed to the growth of such companies as Dole, Viacom, Sony and Einstein Bagels. Lightning in a Bottle exposes everything wrong with the way modern businesses create products, plus the dirty secrets of the research world, such as:

•Why focus groups don't work for new products
•How market segmentation is often a sham
•Why brainstorming is not effective in creating great new products

With the lies exposed, Lightning in a Bottle presents the right way: Minter and Reid's simple 7-step Idea Engineering system—one that improves new-product success rates from the standard 1 in 10 to 1 in 2 or better. It has been proven time and time again, and it will work for your business.

Lightning in a Bottle is the new, must-have system for business leaders. It's simple, it's brilliant, and it works.

Editorial Reviews

Chicago Tribune
"
The first 84 pages harpoon the prevalent processes (including brainstorming, focus groups and quantitative consumer research) for generating new ideas that bring new products to market. Rightly so - 9 out of 10 new products fail. With a consistent 90 percent failure rate, you'd hope the "thinkers" would be open to these fresh ideas. Here are a few of them:


Less is more. It's not the number of ideas you have, it's the quality of each. The more ideas you have actually makes it harder to assess the quality of each. Why? There simply isn't enough time, people or money to properly evaluate all of them. As a result, true top-to-bottom development of an idea never really takes place. Internal competition develops, too, as factions promote their ideas.


The fewer people that work on ideas the better. Idea development should apply "Too many cooks spoil the broth.", not "the more the merrier."


Forget market segmentation. There isn't the time, people or the money to effectively develop multiple market segments. Think of it this way: In order to participate in four discrete markets, you have to divide your existing resources four ways. There's no guarantee that one-fourth of your resources will allow you make a dent in any market segment. By concentrating your resources in your core segment, you can make an impact.

-- February 4, 2007

Product Details

ISBN-13:
9781402207341
Publisher:
Sourcebooks
Publication date:
10/07/2006
Edition description:
1ST
Pages:
224
Product dimensions:
5.50(w) x 8.00(h) x 0.80(d)

Read an Excerpt

This book is about creating and developing ideas that will
drive your business.

Ideas that drive a business are the "lightning in a bottle." It is exciting to be part of the process that comes up with new ideas for products and services, and to execute them successfully. It is thrilling to make an impact with an idea you created. It is the most fun part of business. Nothing else compares.

This book talks about three kinds of ideas that are the heart of business growth:

--Ideas for new products
--New services
--Ideas for new marketing programs

These three fuel American business. Without them, business stagnates and eventually dies. There is nothing as powerful as an idea whose time has come. Consider Blockbuster Video. The advent of the VCR in the early eighties gave birth to a new way of watching movies at home. American households couldn't rent movies fast enough. And Blockbuster couldn't open up stores fast enough-even at the torrid pace of a new store every seventeen hours. When you've got an idea that's working, it is electrifying.

What People are Saying About This

Tyler T. Tysdal
Thunder, lightning, typhoons; Minter & Reid make it happen. The wisdom delivered in Lightning in a Bottle elevated our company’s innovative, big idea to reality. Put down whatever you’re reading, and capture Lightning in a Bottle.
— founder and president, SmartCare Family Medial Centers; managing partner, TIVIS Ventures
Al Baldocchi
Minter and Reid know what they are doing, and in Lightning in a Bottle share their keys to business success in language that is clear and compelling.
— private venture capitalist; member of the Board of Directors of Chipotle Mexican Grill
H. Wayne Huizenga
Once you have caught Lightning in a Bottle, you will never look at ‘new ideas’ the same way again. David Minter and Mike Reid have developed a model with the potential to create immediate value for your company or organization.
— founder and former chairman and CEO, Blockbuster Inc; owner, Miami Dolphins
Mark R. Goldston
I would strongly suggest that all marketers read this book before they decide to launch a new product, line extension or enter a new line of business.
— chairman and CEO, United Online, Inc. (includes NetZero, Juno, Classmates and MyPoints.com brands)
George Dean Johnson Jr.
Lightning in a Bottle exposes why so few new products and services succeed in the marketplace, and what to do about it. It’s not fancy or complicated—it just works.
— co-founder and former CEO, Extended Stay America

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