005 - Creating Winning Business Ideas
In this episode, you'll learn about one of the most powerful and versatile creativity tools to have in your toolbox - analogies. Learn how to use analogies to fine-tune your current business strategy, to give birth to new businesses or business vectors, as well as how to use analogies in the brainstorming process to create new products and service offerings. An analogy is the transfer of one context to a new one. Analogies can be anything - a person, place, thing, or business. I use them because analogies can trigger breakthrough ideas in business strategy, new business opportunities, as well as new product and services development. While academic research on analogical thinking has been limited, there are a small number of studies that have investigated the application of analogies in the specific context of breakthrough innovation projects. They have found that 80 percent of creative ideas are rooted in analogical thinking, and multiple examples can be found in every industry.