I will be presenting “Positioning yourself for the next level; navigating through setbacks and failure” at the upcoming “Think +A Drink” event on April 29th. The event is hosted by the Great Twin Cities United Way – Emerging Leaders program.
Last Friday CNET reported that Nike had fired a large part of their Digital Sports division, the team responsible for their FuelBand product. It was estimated that of the 70 person hardware team, 70-80% were let go. Based on the comments of Nike representatives it sounds as though the company isn’t abandoning the technology altogether but just pivoting away from hardware manufacturing. With more phones and wearable devices adding the necessary chips to track motion it looks like Nike will pivot to become more of an integrator into other hardware platforms.
Over the last year I had the opportunity to discover a hidden innovation gem in my own back yard. A group of companies had banded together to help each other build more innovative organizations, or at least organizations that could drive innovation with a higher degree of success. Innovators International was formed in 2007 out of work commissioned by the Mayo Clinic. Today it is a member partnership of 50 of the world’s most innovative companies who are working together to build each member their own structure for driving sustained innovation.
I have been following the story of Elon Musk for several years now. His attitude toward innovation, risk taking and the possibility of failure is what I consider to be an “example of good.” This attitude has earned him a handsome fortune (worth $12b as of 2014) and a top spot in my “must interview” list for my book. In my previous world of new business development, my team and I had followed Musk’s company Tesla Motors closely as we were working on opportunities in the electric vehicle industry. At the time Musk had just begun general production of the Tesla Roadster and while it had won an award from Time Magazine as one of the best inventions of 2006 it was far from certain that the company could survive.
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