Follow the 10-20-30 rule:

Have 10 slides to proposition your product. Explain these slides in 20 minutes and use 30 points fonts. With these fonts and 10 slides, you are bound to explain your innovation succinctly—need of the time.

Innovation is about offering value and changing the world. If you innovate to bring a difference in people’s lives, the money will follow eventually. But money shouldn’t be your first agenda.

Features of great innovation:

• Deep – The features and functionalities of great innovation are deep.
• Intelligent – At the same time, great innovation is intelligent. Ford’s MyKey can control the top speed of the car through the key. Quite smart!...

Your meaning leads to mantra which is the summary of the difference you want to make. Stick to 2 to 3 words mission statement that summarises what you do. The shorter the mission statement the more clearer your path is.

Be ready to polarize people with your innovations. Who says a great innovation doesn’t have critics? Your innovation might make only a small segment of people happy.

Apple is a typical example. Those who don’t use an iPhone criticize it for its cost and niche features. But only an apple use...

Your product may solve a particular problem. And you may have a specific audience in mind. Later, your product could be used & perceived in a new way by people you had never thought of.

The positioning of your innovation ultimately comes down to what consumers decide.

Great ideas are not lacking, its the art of innovation that does. Therefore, these 10 tips are recommendedto all entrepreneurs or product owners who are responsible for innovation.

Don’t wait for perfection when you innovate. A valuable innovation can have elements of crappiness.

So, don’t worry about the flaws. Instead, ship your innovation with revolutionary outcomes. If it’s on the next curve, elements of crappiness don’t matter.

Don’t stick to achieving 10% better from your current innovation. Create something new instead of continuously working on the existing product. Don’t limit yourself and stick to the same curve. Move to the next one.

When you ship your product with a bit of crappiness, you have a scope to improve. Make new versions of your innovation, and then create another better version. Keep evolving to make a great product.