Podcast S3E48: Adam Malofsky - Innovating with your customers’ customer

In today’s episode of the Idea to Value Podcast, we speak with Adam Malofsky, the MD of Elemence.

We speak about the need to understand your customers’ customer, and the theory of Adaptive Innovation.

Topics covered in today’s episode:

00:01:00 – How Adam’s father’s innovation journey helped Loctite succeed
00:03:00 – The best way to innovate is by finding the needs of your customers’ customer
00:05:30 – Why large companies often don’t look at discoveries and new breakthrough innovations which are still in research
00:07:00 – Adaptive innovation – What must be true…?
00:11:30 – Look for global needs first
00:13:30 – Most companies won’t invest in new technology without the guarantee of a gargantuan return, which they assume will not happen
00:16:30 – How to involve the people in your company who are closest to the customer in the innovation process
00:18:00 – Lack of innovation is usually due to a lack of time
00:19:30 – You don’t want to hire someone who has 30 years of experience in your industry
00:20:30 – Go and speak to the users

Links mentioned in this episode:

Adam’s Linkedin profile: https://www.linkedin.com/in/adammalofsky/
Elemence Consulting: https://elemence.net/

Bonus:

This episode was made possible by our premium innovation and creativity training. Take your innovation and creativity capabilities to the next level by investing in yourself now, at https://www.ideatovalue.com/all-access-pass-insider-secrets/

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Nick Skillicorn

Chief Editor, Founder & CEO at Improvides Innovation Consulting

Creativity & Innovation expert: I help individuals and companies build their creativity and innovation capabilities, so you can develop the next breakthrough idea which customers love. Chief Editor of Ideatovalue.com and Founder / CEO of Improvides Innovation Consulting. Coach / Speaker / Author / TEDx Speaker / Voted as one of the most influential innovation bloggers.