Is #CostOfInnovation too high ? Why most of the companies (not all) are launching #MeToo product and Copy Paste same thing which others have done, either in Same or Other country.
#FinTech industry is suffering from it and everybody is entering in payment business through Plug and Play model with some provider or through White Label System. Hence we had too many Wallets and Payment apps and gradually most of them just disappeared. #BorrowedGarmentsNeverFitWell
Cost of Innovation can include;
1. Start from scratch as there is no Benchmark or Product to Copy
2. Cost of Ongoing Product Development due to rapid change in market dynamics
3. Cost of Creating Awareness for the Product
4.Unsure of the market demand and ROI
5. Tough to convince an investor for new idea
6. Fear of being the First to adopt
7. Explaining Product to Customers & Channel Partners for adoption
8. Please add more points to it ….
By the Way #CostOfNoInnovation / #CopyPaste is higher than being Original.
What are your views on the #CostOfInnovation ,,,,,