It's almost as if companies are trying to innovate by asking what was done in the past.
Unfortunately, this kind of research never leads to innovation. When the focus is on what a competitor is doing, one is condemned to follow what a competitor does. Even if one improves on something that a competitor is doing, only small increments of change are possible. Innovation that changes markets, creates new customers, and delivers high margins and profitability does not come from the competition.
Would Edison have created a business around electic lights and electric distribution if he had paid too much attention to the gas light competition? Could telegraphs have been developed by trying to innovate a better horse and rider? The personal computer was developed - not as a competing super computer to the mainframes - but as a completely new path, use and user for a smaller, cheaper, more flexible computer.
Instead of listening too much to competition, perhaps it's time to listen more to customers. Customers may not always know what they want, but they can tell you what bugs them, what they want to do with their lives, with their businesses, with their families. Customers can give you opportunities, challenges, and new ideas - but only if you are willing to listen to them.
And by listening, I don't mean researching them...that's what the competition is doing right now. Instead, try sitting down and talking with them. Throw out some ideas and see how they react. Ask them why they disagree with you. Try to find out what makes them laugh.
The competition always has the same old ideas. Customers have all sorts of new ones - if you sit down and talk with them.
If you want to innovate, try ignoring the competition for a little while.
