How to Innovate New Products So Your Business Doesn’t Become Irrelevant

How do you invest in innovation to stay relevant in the marketplace without starving the products that are the bread and butter of your business? Joel Heath is the co-founder of FluidStance.com and he joins me to talk all about innovation – how to think about it in a way that can keep your business relevant without sacrificing what made it successful to begin with.

Tune in as we explore Joel’s experience with innovating to the point of alienation and the lessons he learned through that process, what the golden ratio for innovation is, and the importance of taking care of the base first. We also discuss the challenges of selling your business and watching somebody else run and raise it and what the three boxes to check are when you’re thinking of selling your business. 

You’ll learn:

  • The pivotal moment in Joel’s career. (4:40)
  • What the transition was like going to corporate. (6:55)
  • What Joel wishes he had known before he sold his business. (13:00)
  • What went wrong at Teva. (14:45)
  • What the right amount of innovation is. (20:45)
  • Ways to innovate that will increase your chances of success. (27:20)
  • Joel’s advice for hiring somebody to help with innovation. (31:05)
  • Rapid fire round with Joel. (36:45)

Subscribe: iTunes | Stitcher | Amazon

(With your host Andrew Youderian of eCommerceFuel.com and Joel Heath of FluidStance.com)


What Was Mentioned

Image credit to Michal Jarmoluk from Pixabay.

Andrew Youderian
Post by Andrew Youderian
Andrew is the founder of eCommerceFuel and has been building eCommerce businesses ever since gleefully leaving the corporate world in 2008.  Join him and 1,000+ vetted 7- and 8-figure store owners inside the eCommerceFuel Community.

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