Innovation Calling – Understanding the Business of Innovation

Nick Mysore with N-Power Ventures has an extensive background in corporations in addition to start-ups. He has worked in various marketing roles with large brands like Dean Foods and Frontier Communications, along with smaller brands and now consulting.

 

In this conversation with Nick, we discussed all things innovation, not just in marketing, but what large corporations are doing wrong when it comes to analyzing and creating a case for their innovation lab in addition to hiring the right teams. We also discussed how start-ups can be more strategic with their resources to scale and grow quickly, even with a smaller budget.

 

Here is the official episode breakdown:

2:10 – Nick’s journey from marketing to consulting for major corporations but advising under various circumstances

4:25 – The research required to launch a multi-million dollar brand and some of the mistakes that were made

6:15 – The team that’s required for true innovation

8:30 – What are the differences between a large brand launching a huge brand vs. a small brand trying to get out of the gate, and what do you do with limited resources

9:00 – A simple trick when trying to find the niche that you can market your brand to

12:30 – The three basic types of innovation

13:30 – How can large corporations eliminate the innovation barrier?

15:00 – A simple way large companies can analyze innovative initiatives

16:00 – How can corporations think differently in terms of innovation and ROI

18:20 – What is the key feature that an innovation team must have to succeed

20:10 – What kind of mix of talent do you need to build the right innovation team

22:23 – How easy is it for corporations to build the right team of people for an innovation lab?

24:34 – Discussing the changes in innovation coming to various industries, like food and energy

27:30 – The importance of innovation labs

29:13 – How has social media changed the landscape of marketing in today’s world

31:03 – Are corporations using influencers in the correct way when it comes to marketing their brand?

33:40 – Is America going to fall behind on the innovation scale because we are more leery of sharing our data?

36:30 – Different ways to look at innovation and why money isn’t everything

37:50 – How shortsightedness affects venture capital firms

39:40 – What’s a venture builder vs. a venture capitalist

42:10 – We take a spin and start talking health and drugs and how innovation is also within those industries

45:10 – Great uses for AI and how we can use it within different technologies

48:10 – More ways to build innovative ideas for your brand that doesn’t take you away from your day-to-day job

49:30 – Why as a society we should learn to embrace failure and how we can learn from those mistakes

 

You can find Nick on LinkedIn (https://www.linkedin.com/in/nickmysore/) or connect with him at: Nickm {at} npowerventures.com