Innovation Formula: Create Breakthrough Products & Services.

Reading Time: 5 minutes


Innovation is the key to success in today’s fast-paced business world. Companies that fail to innovate risk being left behind by their competitors. But how do you create breakthrough products and services that will set your company apart? The answer lies in “The Innovation Formula: How to Create Breakthrough Products and Services.” This book, written by business strategist and innovation expert Michel Robert, provides a step-by-step guide to developing innovative ideas and turning them into successful products and services.

Whether you’re an entrepreneur with a new invention idea or a product designer looking to create something truly unique, “The Innovation Formula” is a must-read. In this article, we’ll explore the key concepts of the book and show you how to apply them to your own business. So, let’s dive in and discover the secrets of successful innovation!


In today’s fast-paced world, innovation is the key to success. Companies that fail to innovate risk being left behind by their competitors. But what exactly is innovation, and how can it be achieved? The answer lies in the innovation formula, a set of principles and practices that can help companies create breakthrough products and services.

The innovation formula is based on the idea that innovation is not just about coming up with new ideas, but also about executing those ideas effectively. It involves a combination of creativity, strategy, and execution, and requires a deep understanding of customer needs and market trends.

  1. The first step in the innovation formula is to identify customer needs. This involves understanding the problems that customers are facing and the opportunities that exist in the market. Companies can use a variety of methods to gather this information, including market research, customer surveys, and focus groups.
  2. Once customer needs have been identified, the next step is to generate ideas. This involves brainstorming and ideation sessions, where employees are encouraged to come up with as many ideas as possible. The key here is to encourage creativity and to avoid judging ideas too quickly. All ideas should be considered, no matter how crazy they may seem.
  3. The third step in the innovation formula is to evaluate ideas. This involves assessing each idea based on a set of criteria, such as feasibility, market potential, and alignment with company strategy. Ideas that meet these criteria are then selected for further development.
  4. The fourth step is to develop a prototype. This involves creating a working model of the product or service, which can be tested and refined based on customer feedback. Prototyping is an important part of the innovation process, as it allows companies to test their ideas in a real-world setting and make improvements based on customer feedback.
  5. The fifth step is to launch the product or service. This involves creating a marketing plan and executing it effectively. Companies need to ensure that their product or service is visible to their target audience and that they are able to communicate its value effectively.
  6. The final step in the innovation formula is to iterate and improve. This involves continually refining the product or service based on customer feedback and market trends. Companies need to be willing to make changes and adapt to changing market conditions in order to stay ahead of their competitors.

One of the key principles of the innovation formula is the importance of collaboration. Innovation is not a solo endeavor – it requires input from a variety of stakeholders, including employees, customers, and partners. Companies that foster a culture of collaboration are more likely to succeed in their innovation efforts.

Another important principle is the need for a clear strategy. Innovation cannot be haphazard – it needs to be aligned with company strategy and goals. Companies need to have a clear understanding of their target market, their competitive landscape, and their unique value proposition in order to create breakthrough products and services.

The innovation formula also emphasizes the importance of experimentation. Companies need to be willing to take risks and try new things in order to innovate. This means being willing to fail, but also being willing to learn from those failures and make improvements based on what was learned.

Innovation is not just about creating new products and services – it is also about improving existing ones. Companies that are able to continually innovate and improve their offerings are more likely to succeed in the long run.

In conclusion, the innovation formula is a powerful tool for companies looking to create breakthrough products and services. By following the principles and practices outlined in the formula, companies can identify customer needs, generate ideas, evaluate those ideas, develop prototypes, launch products and services, and continually iterate and improve. Innovation is not easy, but by following the innovation formula, companies can increase their chances of success and stay ahead of their competitors.

Interesting facts about The Innovation Formula: How to Create Breakthrough Products and Services

  1. The first recorded patent was granted in Venice, Italy in 1474 for a device that improved the efficiency of canal locks.
  2. The concept of intellectual property dates back to ancient Greece and Rome, where inventors were granted exclusive rights to their creations.
  3. Thomas Edison is often credited with inventing the light bulb, but he actually improved upon an existing design by creating a longer-lasting filament.
  4. The invention of the telephone is attributed to Alexander Graham Bell, but several other inventors were working on similar devices at the same time.
  5. Many modern inventions have been inspired by nature, such as Velcro (inspired by burrs) and airplane wings (inspired by bird wings).
  6. Product design can greatly impact consumer behavior and perception; for example, studies have shown that people are more likely to buy products with rounded edges than sharp corners.
  7. Invention ideas can come from anywhere – even dreams! Elias Howe reportedly came up with his idea for a sewing machine after dreaming about being attacked by cannibals wielding spears with holes in them.
  8. Some inventions have had unintended consequences; for example, when plastic bags were introduced as a replacement for paper bags in grocery stores it led to increased pollution and environmental damage due to their non-biodegradable nature.

Are you ready to become an inventor?

Getting your idea out of your head and into your hands is only the first in a long set of steps towards becoming a successful inventor.

First Steps To A Successful Invention

At Invention Therapy, we believe that the power of the internet makes it easier than you think to turn your invention idea into a reality. In most cases, you can build a prototype and start manufacturing a product on your own. Changing your way of thinking can be difficult. Being an inventor requires you to balance your passion with the reality of having to sell your products for a profit. After all, if we can't make a profit, we won't be able to keep the lights on and continue to invent more amazing things!

Please subscribe to our Youtube Channel!