From the course: Unlock Your Team's Creativity
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ReThink your offerings
- It's pretty challenging to find new potential in your existing products or services. But rethinking your offerings can lead you to untapped markets and new revenue streams. Take pharmaceutical company Allergan; it's medicated eyedrops for glaucoma were repackaged as Latisse, a cosmetic that stimulates growth in eyelashes and eyebrows, and in its first three months on the market, the product generated $12 million in sales. To see beyond what is and imagine what could be, use a creative technique known as ReThink. This mindset exercise gets people thinking differently about how to reinvent the experience or how to squeeze more value out of existing intellectual property. Simply take an everyday object like a paperclip, a post it, or a pair of scissors, and then completely reimagine it. As in, forget everything you already know about the object and create an entirely new name and backstory for it. Now for example, my R&D department just invented, this. Now I need to name it, describe…
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