Highlights from Inc.'s Live Chat Series on Innovation

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Mark Johnson on Implementing New Business Systems

"How do we implement these new business systems in a way that's gonna reduce the risk that’s gonna be most effective?" asked Mark Johnson, co-founder and chairman of Innosight, an innovation and consulting investment firm. "That implementation process starts with a foothold market, a test and learn approach, and an ability to adapt our business model multiple times before we get it right." Johnson’s new book, Seizing the White Space: Business Model Innovation for Growth and Renewal, focuses on how companies can build new businesses in areas that are outside their current business model. "In fact, the research that we've been familiar with and that we have had a part of shows that 90 percent of successful new ventures change their business model in a fundamental way four times before they get it right," Johnson said. The last part of his book serves as a roadmap on how to go about the redesign and implementation of a new business model.