What is Minnovation? This interesting article from Harvard Business discusses why it is not necessary to be the next Bill Gates to be an entrepreneur and piggy back on existing ideas. I saw an entrepreneur last night on Dragons Den (one of my absolute favorite TV shows and a must for anybody who ever plans on pitching investors) She had a business distributing a line of fully recycled gift packaging. Interestingly enough, despite the dragon’s green leanings they were quick to point out that in order to survive she needed to expand to ‘recyclable products” as well as products which were made from f”ully recycled paper”. A good example of minnovation adding something different to an existing lucrative market but leveraging the existing market to make money. Upon her agreement Theo Pafitis owner of one of the biggest stationery chains in Great Britain backed her. He liked her green idea but not much use if it doesn’t make money and profits.
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