G. Michael Maddock - Brand New: Solving the Innovation Paradox -- How Great Brands Invent and Launch New Products, Services, and Business Models

Contents

Additional Praise for Brand New

Maddock Douglas was first to market with the Agency of Innovation model making this book a must-read for any executive seeking the theory and tactics that todays next level companies are utilizing to incorporate innovation strategies into their everyday practices.

Marc Roth, President, Home Warranty of America, Inc.

As a serial entrepreneur, I look at innovation as a silver bullet. Whether you sell software, energy or insurance, the ability to efficiently hit your mark with relevant ideas is the difference between profits and losses. Want more silver bullets? Read this book.

Tim Stojka, CEO, Agentis Energy

Dont go near this book, let alone open it, if you are looking for the same old answers. Mike and his team rarely visit inside the box and, as a result, their ideas and clients tend to more quickly and profitably enter new markets and usher in new products better than the competition. Short of hiring the Maddock team, read the book and keep it away from your competitors. Then, get ready to go to the bank!

Jack Daly, CEO, Professional Sales Coach, Inc.

I have worked with Mike and his team in a variety of diverse categories, applying their creative approach to innovation. Now this book lays it out for all to benefit and drive innovation through their organizations. A wonderful compass for all leaders.

Christine Robins, CEO, BodyMedia

This book will teach you how to reinvent the value proposition of even the most conservative industries using a proven, outside-in approach that is truly something wonderful.

Greg Cohen, President, Moneris Solutions

Copyright 2011 by G. Michael Maddock. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Maddock, G. Michael, 1965-

Brand new : solving the innovation paradoxhow great brands invent and launch new products, services, and business models / G. Michael Maddock, et al.

p. cm.

Includes index.

ISBN 978-0-470-64359-4 (cloth); ISBN 978-1-118-09593-5 (ebk); ISBN 978-1-118-09594-2 (ebk); ISBN 978-1-118-09595-9 (ebk)

1. Technological innovations. 2. New products. 3. Creative ability in business. I. Uriarte, Luisa C., 1968- II. Flaim, Javier, 1970- III. Miller, Brett S., 1969- IV. Brown, Paul B., 1954- V. Title.

HD45.M225 2011

658.5'75dc22

2011005631

Foreword

As the founder of the Entrepreneurs Organization and also Gazelles, a fast-growth business consultancy, my lifes work has been devoted to helping aggressive entrepreneurial companies scale. This has given me the opportunity to work with legendary entrepreneurs from the moment they had their big idea to the time they booked their first $100 million in revenue (and moved far beyond).

Typically, people start businesses in fields they know. They are working for a firm; spot an opportunity their company cant/wont take advantage of and go off to do it themselves.

But today, there is a different phenomena that is much more fascinating. A significant number of companieseverything from Amazon to Zip carsare being started by beginners; people with no relevant industry background. (Jeff Bezos, creator of Amazon was a rocket scientist on Wall Street. Zip Car founder Robin Chases background was in international health.)

Why is this significant? Bezos, Chase, and thousands like them are bringing multiple advantages to the table. First, they are not hamstrung by industry best-practices. (They dont know what they are.) They dont follow the rules about distribution/sales channels. (Again, because they simply are unaware of them.) And they dont know that what they are trying to do cant be done, because they never asked an expert.

From my experience, established firms tend to dismiss the success of these types as having beginners luck. But it is clearly more than that: It is a new way of looking at existing problems.

This is where Mike Maddock starts. I met Mike over a decade ago and have enjoyed being part of his innovation journey. His work has lead to the creation of a brand new categorythe innovation agencywhich is at its roots a proven process to help big companies act like entrepreneurs; he helps them act like beginners. It is this thinking that Mike and his team deliver in Brand New .

Want to make your company behave like the entrepreneurs that should be keeping you up at night? Read this book.

Verne Harnish

CEO, Gazelles

About the Authors

G. Michael Maddock is the founding partner and CEO of the leading innovation agency Maddock Douglas, which has helped 25 percent of the Fortune 100 invent, brand, and launch new products, services, and business models successfully. A serial entrepreneur, Mike has launched three successful businesses and chairs the Gathering of Titans entrepreneurial conclave at MIT. Mike is a featured columnist for BloombergBusinessWeek .

Luisa Uriarte is a partner and executive vice president of Maddock Douglas where she is the head of research. Luisa has more than 20 years of experience in managing research and consulting projects of international scope, covering more than 30 countries worldwide.

Javier Flaim , formerly an executive vice president at Maddock Douglas, is an expert at repositioning and launching new products and brands. Previously the CEO of Markitecture, a marketing research and innovation firm, Javi is a member of the Vocational Foundation, Inc., a non-profit organization dedicated to helping disadvantaged youth in the New York City area gain the skills they need to achieve financial independence.