Secrets of Market Disruptors: How to Innovate Without Failure with Warren Schirtzinger

Hightechstrategies.com

About the Guest(s):

Warren Schirtzinger is a leading authority in the field of diffusion research and technology adoption. With several influential studies published under his name, Warren's work primarily focuses on understanding the factors that influence the acceptance and adoption of innovations, such as new technologies or novel inventions. He places a strong emphasis on understanding the role of risk perception and how it can influence the spread of new ideas or products in the consumer market. Warren is associated with hightechstrategies.com and diffusionresearch.org, where he extends his expertise to businesses aiming to minimize risk and effectively market their innovations.

Episode Summary:

In this engaging episode of The Chris Voss Show, host Chris Voss sits down with Warren Schirtzinger, a preeminent expert on diffusion research and technology adoption. Warren shares his extensive knowledge on how businesses can reduce perceived risks to increase the adoption of new innovations. Their discussion spans from historical examples, like Thomas Edison’s lightbulb and the automobile revolution, to modern scenarios including the iPhone and Amazon.

Warren highlights three critical elements for successful innovation: end-user harmony, reliability, and safety in numbers. Listeners get in-depth insights into how companies like Amazon started with low-risk products like books and gradually expanded their offerings. Chris and Warren explore case studies such as the unprecedented success of Vermont's COVID vaccination program, the rise of Uber, and innovative guarantees that boost consumer confidence. This hour-long conversation is packed with valuable advice for entrepreneurs, business leaders, and anyone interested in understanding how to drive acceptance and adoption of new products and ideas.

Key Takeaways:

End-User Harmony: Understanding and aligning with the end-user’s needs is crucial for innovation success.

Reliability and Commitment: Demonstrating long-term commitment and reliability can significantly reduce the perceived risks of new products.

Safety in Numbers: Innovations adopted in a social or community context have higher chances of success.

Examples of Success: Case studies like the transition from gas lamps to electric light bulbs and Vermont’s COVID vaccination program illustrate successful risk reduction strategies.

Stage-Based Innovation: Gradual rollouts and stage-based changes are more effective than sudden overhauls in gaining user adoption.

Notable Quotes:

"People don't just jump on new things. In fact, they actually resist change."

"The most successful companies, the founder is the customer."

"Safety in numbers is a full 33% of the total risk reduction."

"Try before you buy is one of the biggest elements of end-user harmony."

"Amazon began with books because they were ultra-low risk, well understood, and had an established ecosystem."