Costovation: Innovation That Gives Your Customers Exactly What They Want--And Nothing More

ONE OF THE TOP TEN BUSINESS BOOKS OF 2018 -- THE GLOBE AND MAIL Cut costs-it's a common corporate refrain. But if you constantly slash expenditures, what happens to innovation? How can you stay competitive and satisfy customers? Costovation solves the dilemma of how to spend less and innovate more. The book's revolutionary approach broadens the definition of innovation beyond products to the business model itself. With costovation, you let go of assumptions, take a fresh look at the market, and relentlessly focus on what customers really want. Consider Planet Fitness--it grew to 7.3 million members by concentrating on casual exercisers. Those folks don't care about frills. They want easy, low-cost access to good equipment. Although it's inexpensive to run, Planet Fitness ranks highest in gym satisfaction. Gourmet grocer, Picard, sells only frozen food. With less perishable inventory, they compress costs while delighting a discerning but busy clientele. Packed with examples and interactive exercises, the book explores cost innovation strategies that work for big and small companies alike. From open innovation and cost-sharing to simplifying products and turning waste into new offerings-readers learn how rivals are carving out niches, protecting positions, and dominating industries. Innovation and cost-cutting are not opposites. Combined, they expose untapped opportunities to outsmart and underspend competitors. Review "[Costovation] puts wheels to the road when it comes to innovation by providing clear-cut examples. It's a good book that forces entrepreneurs to think without feeling like heavy-handed, dry, PhD-like research...Read Costovation to gain insight into exciting ways to use the right innovation to be profitable for the long haul." -Small Business Trends Book Description Wow your customers . . . with ?less.? Cut costs-it?s a common corporate refrain. But if you constantly slash expenditures, what happens to innovation? How can you stay competitive and satisfy customers? Costovation solves the dilemma of how to spend less and innovate more. The book?s revolutionary approach broadens the definition of innovation beyond products to the business model itself. With costovation, you let go of assumptions, take a fresh look at the market, and relentlessly focus on what customers really want. Consider Planet Fitness-it grew to 7.3 million members by concentrating on casual exercisers. Those folks don?t care about frills. They want easy, low-cost access to good equipment. Although it?s inexpensive to run, Planet Fitness ranks highest in gym satisfaction. Gourmet grocer, Picard, sells only frozen food. With less perishable inventory, they compress costs while delighting a discerning but busy clientele. Packed with examples and interactive exercises, the book explores cost innovation strategies that work for big and small companies alike. From open innovation and cost-sharing to simplifying products and turning waste into new offerings-readers learn how rivals are carving out niches, protecting positions, and dominating industries. Innovation and cost-cutting are not opposites. Combined, they expose untapped opportunities to outsmart and underspend competitors. From the Inside Flap In most companies, innovation is expensive and focused on creating more elaborate offerings. But what if you threw out the standard model and re-thought how you innovate? Instead of spending more on extra features with extra costs, what if innovation could be united with making costs low and prices affordable?  In any industry and context,there will be those who prefer less: fewer frills, less complexity, lower prices. By targeting what customers really want, you open up a world of opportunities for developing not just products, but entire business models. Consider these affordable innovations that brilliantly fill underse