You're listening to Peter Bodenheimer and Stefani Bardin of the unstuck Innovation consultancy. We're talking about innovation and referencing two articles:

How Mr Beast became the Willy Wonka of YouTube was published in the New York Times on June 12th and Fast Company’s list of the World's Most Innovative Companies of 2023.

You can find this audio nugget and links to these articles on our website unstuck innovation.com

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Innovation is this like catchall term that means fuck all.

Companies that are good at Innovation tend to be the companies that are willing to try more things because they've seen just that little light of oh my God wait, if we try this thing it might work and now we're willing to - our our risk aversion becomes a little bit less. What companies sometimes do is they put everything into the one product they think is going to turn things around and that's when the risk reward doesn't - you know- the return on investment is too steep and so they are you know completely wounded and take way too long to go out on a limb. But you you can do Innovation on a small scale and the fact that there are only two or three companies in the food space in it - like that's a problem in itself right, like that's a whole different conversation. It also references the Mr Beast article and how he is very very single-minded in the way that he builds out his product and that he is building for what he sees as relevant to his mission and relevant to what he's doing and he's very good at sticking to that and I think it just gets confusing for companies when they see all of these ideas and all of these lists and they feel the need to catch up without having a very clearly defined idea of how any change is going to impact them. Sitting there and taking time to think about what is it that we do what is it what do the market that we're in look like what is the future potentially look like and what are the things that we can do today tomorrow a month from now a year from now 10 years from now that make sure we're still relevant.