How to Outwit Your Competition

Decades of experience have taught me that making thoughtful improvements to existing products is a consistently profitable way to innovate. An effective way to come up with ideas is to start by surveying the market in a familiar industry and asking: What's missing?

Maybe a potential demographic has been completely overlooked by industry leaders. Maybe there's been a lack of innovation for years. You don't have to reinvent the wheel to create a winning innovation.

The question to ask is: How can the products already out on the market be made better? Here are three ways to help you out-design your competition: