Lessons from Tesla's Approach to Innovation
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A part of Tesla's strategy, which forms the core products and requires the most investment, aims to transform an industry by paying attention not just to the product, but to the entire product ecosystem.
There are four factors how innovators build up their innovation capital: Who you are, who you know, what you have done, your ability to draw attention to your ideas. Most notably, innovation capital is something accumulated over time through thoughtful action.
The Cybertruck is then about getting attention and proving that Tesla is one of the world's most innovative companies, specifically for the purpose of building Tesla's ability to win support from stakeholders.
Tesla’s innovation strategy offers lasting lessons for any innovator, especially in terms of
Elon Musk is a master of building and using innovation capital to win support for his ideas. To gain support:
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