Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work [Hardcover]

David Minter (Author)

Book Description

Publication Date: October 1, 2006

"You will never look at 'new ideas' the same way again." -H. Wayne Huizenga, founder and former chairman and CEO of Blockbuster Inc.

"I would strongly suggest that all marketers read this book before they decide to launch a new product, line extension or enter a new line of business." -Mark R. Goldston, chairman and CEO, United Online, Inc., which includes NetZero, Juno, Classmates and MyPoints.com brands

David Minter and Michael Reid know innovation. For more than 25 years, they have contributed to the growth of such companies as Blockbuster, Dole, Viacom, Sony and Einstein Bagels.

Lightning in a Bottle presents Minter and Reid's simple seven-step system for creating ideas that work-one that improves new-product success rates from the standard one in 10 to one in two or better. Lightning in a Bottle also explains the top 10 reasons ideas fail, plus the dirty secrets of the research world, such as:

--Why focus groups don't work for new products
--How market segmentation is often a sham
--Why brainstorming in not effective in creating great new products

In the tradition of Execution and Good to Great, Lightning in a Bottle is the new must-have guide for business leaders.

Editorial Reviews

Review

The first 84 pages harpoon the prevalent processes (including brainstorming, focus groups and quantitative consumer research) for generating new ideas that bring new products to market. Rightly so - 9 out of 10 new products fail. With a consistent 90 percent failure rate, you'd hope the "thinkers" would be open to these fresh ideas. Here are a few of them:

Less is more. It's not the number of ideas you have, it's the quality of each. The more ideas you have actually makes it harder to assess the quality of each. Why? There simply isn't enough time, people or money to properly evaluate all of them. As a result, true top-to-bottom development of an idea never really takes place. Internal competition develops, too, as factions promote their ideas.

The fewer people that work on ideas the better. Idea development should apply "Too many cooks spoil the broth.", not "the more the merrier."

Forget market segmentation. There isn't the time, people or the money to effectively develop multiple market segments. Think of it this way: In order to participate in four discrete markets, you have to divide your existing resources four ways. There's no guarantee that one-fourth of your resources will allow you make a dent in any market segment. By concentrating your resources in your core segment, you can make an impact. -- Chicago Tribune, February 4, 2007

From the Publisher

"Lightning in a Bottle exposes why so few new products and services succeed in the marketplace, and what to do about it. It's not fancy or complicated--it just works."
--George Dean Johnson, Jr., co-founder and former CEO, Extended Stay America

"I would strongly suggest that all marketers read this book before they decide to launch a new product, line extension or enter a new line of business."
--Mark R. Goldston, chairman and CEO, United Online, Inc. (includes NetZero, Juno, Classmates and MyPoints.com brands)

"Minter and Reid know what they are doing, and in Lightning in a Bottle share their keys to business success in language that is clear and compelling."
--Al Baldocchi private venture capitalist; member of the Board of Directors of Chipotle Mexican Grill

"Thunder, lightning, typhoons; Minter & Reid make it happen. The wisdom delivered in Lightning in a Bottle elevated our company's innovative, big idea to reality. Put down whatever you're reading, and capture Lightning in a Bottle."
--Tyler T. Tysdal founder and president, SmartCare Family Medial Centers; managing partner, TIVIS Ventures

See all Editorial Reviews

Product Details

• Hardcover: 224 pages
• Publisher: Sourcebooks, Inc.; 1 edition (October 1, 2006)
• Language: English
• ISBN-10: 1402207344
• ISBN-13: 978-1402207341
• Product Dimensions: 7.9 x 5.7 x 0.9 inches
• Shipping Weight: 11.2 ounces
• Average Customer Review: 4.7 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #1,098,623 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

4.0 out of 5 stars Good Ideas for Creating Ideas, March 16, 2007

By 

Bud Bilanich "The Common Sense Guy" (Denver, CO) - See all my reviews

This review is from: Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work (Hardcover)

Recently I came across an interesting book Lightning in a Bottle, by David Minter and Michael Reid. Mssrs. Minter and Reid are partners in a Denver idea development group. They have worked with companies like Dole, Blockbuster, Sony, Viacom and Einstein Bagels.

I like this book. It is different from other books on product development. Mssrs. Minter and Reid present a concept called Idea Engineering, based on disciplined, financially driven methods of product development.

Lightning in a Bottle is an interesting and entertaining read. Mssrs. Minter and Reid present a number of very interesting case studies to illustrate their points. I liked Chapter 5 - Why Nine out of Ten New Products Fail where they point out the shortcoming of commonly used product development ideas like focus groups, brainstorming, quantitative research and market segmentation.

Chapter 7 presents The Top Ten Reasons Ideas Fail:

1. Trying to sell things people don't want to buy.
2. The ideas don't make financial sense.
3. Giving up too soon on good ideas.
4. Pushing bad ideas too long.
5. No separation of good ideas from bad.
6. Thinking small.
7. Delegating idea development to junior people.
8. No specialized talent for developing ideas.
9. No process, or a poor process for developing ideas.
10. No real, important difference versus the competition.

However, the real meat of the book is in Chapter 11 - Idea Engineering: Seven Steps. Here is a quick overview of what the authors offer.

Idea Engineering

1. Learn. Effectively research, compile and sift relevant information.
2. Develop working theories. Synopsize that you've learned and develop working paradigms.
3. Develop ideas and concepts from the working theories. Bring research and working theories together to develop actionable ideas with maximum potential.
4. Conduct financial due diligence. Determine if ideas will actually make money --before you talk to consumers.
5. Talk to consumers: not in groups, but one person at a time. Test and modify ideas with one-on-one interactions with consumers. Avoid depending on focus groups.
6. Iterate the concepts by listening to consumers. Modify your questions and your concept during one-on-one consumer interaction. Employ, real time concept development with real time consumers.
7. Monetize the best concepts; predict real world revenue. Predict real world revenue by conducting a large-scale quantitative survey with consumers.

In my needs analysis work in my coaching and consulting practices, I have found idea number 6 to be helpful. You learn as you conduct interviews. Use this learning to shape and sharpen your questions and develop paradigms.

As I've said, I like Lightning in a Bottle; if for no other reason than the authors are not afraid to take on some sacred cows about product development. It has some great common sense ideas on how any business owner can develop his or her next product. If you're planning on introducing a new product, it is a must read. I am going to use the seven step idea engineering process to help me develop information products to augment my consulting, speaking and coaching practices.

5.0 out of 5 stars Great ideas in a Short Read!, March 31, 2008

By 

Gary A. Halpin "Other People Are Not Your Pro... (Colorado) - See all my reviews
(REAL NAME)   

This review is from: Lightning in a Bottle (Paperback)

I had the privilege of working with David Minter at Blockbuster in the glory years. As he shows in this book, the management team under Huizenga was in `the zone' so-to-speak. It was a great time, and Minter and Reid point out why Blockbuster had that success, and how other entrepreneurs can as well.

Highly recommend reading this more than once!

5.0 out of 5 stars Successful Approach For All Business Ventures, January 25, 2007

By 

Bruce Mitchell "Business Mogul" (Vero Beach, FL) - See all my reviews

This review is from: Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work (Hardcover)

I recently completed reading this most provocative and immensely
fascinating Lightning in a Bottle book by Minter and Reid. Let me tell you that the lightning has escaped from the bottle and is now enlightening my new approach to successful business venture evaluation. Utilizing the basic concepts I learned from the book not only works for idea and product analysis, but is also streamlining my business investment decisions. Bottom line - I have discovered a great new tool that is already putting big bucks in my pocket! I can't recommend a business advisory publication any higher - five gold stars.