SpaceX Like Tesla Should Remind Us That Successful Innovation Is About Making Good Business Decisions At Right Time With Available Resources Looking To The Long Term Goals With Best Next Step In The Journey
SpaceX Like Tesla Should Remind Us That Successful Innovation Is About Making Good Business Decisions At Right Time With Available Resources Looking To The Long Term Goals With Best Next Step In The Journey
Successful Innovation Is Not About Innovation It Is About Application Of Good Ideas
Many people could and do have great ideas. Having great ideas is not being innovative. Being innovative is having ideas that you make work in the real world.
Tesla’s trajectory is involved a good solid idea then looking at what you need to make it work well. At each stage of Tesla’s and now SpaceX business development they have looked at what they need to do next to help them achieve the final goal. Tesla and SpaceX did not have the best business solutions best brains or best tools to make the next stage of their development work well.
Several bigger better and more advanced businesses jumped onboard journey that probably kept the vision alive and took it to the next level. Not every great business which jumped on board stayed for the whole ride and perhaps lost out. Where Tesla and SpaceX are now suggest that they did not lose out on the collaboration. They seem to have gained from an injection of money knowhow and partnership.
What helps is an inspirational leader and visionary with resolve. Even the wrong Tweet from such a leader can knock billions of a business valuation never mind that persons departure or loss from the business. This creates a number of key risks in itself. If Musk was no longer at the helm what would happen to the business?
These two great companies are exposed to the key person risk in an existential way. How do you protect a business from such an inordinately high risk? Musk is a Tech Rockstar!
However the growth side of the equation is the main feature of this article. Musk has had to cope with people being more interested in their battery technology than the car. Even now Tesla is valued so highly not because they make cars but because they are innovative and make their innovations work.
Often Tesla and SpaceX know they do not have the best in the market. However they position their products and services in the market and then make improvement after improvement until they are the best in the market. Many in the automotive and aerospace marketplace have had better ideas but they did not make them work for them and the marketplace.