Journey maps are tools that help marketers and brand leaders empathize with customers. They help you understand your customers at each step so you can design smarter, more effective touchpoints. The problem is, most customer journey maps are missing half the story. 

Private equity firms are known buying companies, cutting costs, and then selling them for a profit. It’s a solid business model, but it’s starting to show cracks. Here are 5 types of market research every private equity firm should do when making an investment:

Research without strategy isn’t just inefficient, it’s risky. It can lead you in circles, waste time and budget, and worst of all, make you feel like you’re learning something when you’re not. Before you spend a dollar or schedule a single interview, take these steps:

Hiring a Director of Innovation can be a smart starting point, but here’s the mistake: too many leaders think hiring someone to “own” innovation is enough.

It’s not. And if that’s all you do, it could create more problems than progress.

I’ve helped large and small companies develop new products and services across industries based on this innovation principle. If you’re trying to create something new for customers, whether it's your next product, service, or business model, here are five best practices to guide your process to help your creativity lead to real-world business success: