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Innovate or Die

The Importance of Innovation

Stephen Oluwatobi

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Introduction

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Why do we have new models come out virtually every year?

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“Only the strong survive;

Only the wise excel;Only the lonely dies slowly.

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What is Innovation?

So…

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The Solow residual

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To compete you must innovate.

To survive and thrive, you must compete.

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Ice Business

Case

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Everything demands innovation to survive

»Work»Business»Product»Service»Processes»Packaging»Family»Life

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The Capacity to Compete

Innovation

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Blunt truth about jobs in the future

»Teaching»Estate Management»Marketing»Accounting

»Any job that can be automated is already insecure.»The jobs that will survive are the ones that machines can’t learn for now.

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Jobs/businesses that have been automated or enabled for mere mortals

»Typing»Accounting»Broadcasting»Publishing

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»Driving»Receptionists»Security

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Imitation is not innovation

Note

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How do you Innovate?

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Question

???

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“The true spirit of competition doesn’t lobby. Just do something that renders the existing

product obsolete.

Stephen Oluwatobi

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youThank

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OneProject

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What will you do with N50,000 such that in 12 months from now, you would have…

»Changed lives with it;»Generated substantial revenue from a fast-selling product you developed using the money;»Created at least two jobs; and»Grown it to a value of at least N500,000;

Prepare to present/pitch next class

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Instruction

»Be realistic with your answers.»Your answers must be applicable.»Your submission must be systematic and properly ordered and presented.»Write as though you are pitching for investment.»Make your answers deep, short, sharp and smart. All you are trying to say must not exceed 8 pages in A4.»Remember, the importance of packaging as well as good content.

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