PBs Guide to Innovation: a cautionary tale

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PBs Guide to Innovation a cautionary tale

• Paul Brown
• President
• Airport Concessions, Inc.

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Innovation

• Past successes
• Fully Booked Bookstore, IAH
• Matsutake Sushi, DCA
• Legal Sea foods, DCA
• Massage Bar, SEA, EWR, IAD

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Innovation

• Missed opportunities
• African Food DCA
• The DC Soup Line, DCA
• Caddy Shack, ORD
• Spaghetti Ice, Pizza Hut, Inc.

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Rules for Innovators

• 1. Stay on target!

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Rules for Innovators

• You can put your boots in the oven, but that
  dont make em biscuits.
• Dan Jenkins Hal Sutton parody, Golf Digest, 2005

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Rules for Innovators

• Inspect what you expect.
• King Harris

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Rules for Innovators

• 2. Dont think too much. Put a premium on action.

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Rules for Innovators

• The doer alone learneth.
• Nietzsche

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Rules for Innovators

• 3. Fight battles you can win avoid protracted
  wars that drain resources.

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Rules for Innovators

• "When management with a reputation for brilliance
  tackles a business with a reputation for bad
  economics, it is usually the reputation of the
  business that remains intact."
• Warren Buffet

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Rules for Innovators

• 4. Its not done till its done.

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Rules for Innovators

• We got the animal in the barn, now we gotta kill
  it.
• Hezekiah Harris

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Rules for Innovators

• If you do have to innovate, I recommend that you
  use someone elses wallet.
• Paul Brown, others