Innovating in a recession....

I posted a comment on this NESTA post on innovating in a recession. Here is the concluding advice and the full comment can be seen at http://blogs.nesta.org.uk/connect/2008/10/is-a-recession.html?cid=136170255#comment-136170255

"So, my advice is:

1.Spend more time with your existing customer’s and get to know how they are impacted by the downturn and current plans to deal with it - look for new insights.

2.Use these insights to identify new ways to help them beyond current offerings and lower prices and explore areas that they may have previously rejected but may now be open to.

3. Re-visit your strategy and re-orient it towards the new market conditions – success will go to the agile and the courageous and this may be a better time to change direction than you think."

Brendan at www.HowToFarmLightning.com

Posted by: Brendan 24 Oct 2008 11:24:28