Lessons for innovators from Joseph Woodland's success:
1. The technology is reliable
2. The technology's benefits are obvious to the intended audience
3. A governing body establishes the standards
4. "An extravagant, surprising, and often expensive effort to seed the market"
5. Everyone allowed to build their own "version" of the technology.
And of course, the innovator's own conviction and courage!
Source: Bloomberg Businessweek, December 24, 2012 - January 6, 2013
1. The technology is reliable
2. The technology's benefits are obvious to the intended audience
3. A governing body establishes the standards
4. "An extravagant, surprising, and often expensive effort to seed the market"
5. Everyone allowed to build their own "version" of the technology.
And of course, the innovator's own conviction and courage!
Source: Bloomberg Businessweek, December 24, 2012 - January 6, 2013