Don’t be wack like Kodak

I got my son a digital camera for Christmas. It kind of blows my mind how much tech is in a $20 kids’ camera.

It’s designed to look like an older, bulky style of camera, and it got me thinking…

In the world of entrepreneurship, getting comfortable is like asking for a one-way ticket to Obscurity Town. 🚂 

The innovation train isn't slowing down, and neither should you.

It's a tricky balance, though.

How do you continue evolving and innovating without jeopardizing the foundation you know works?

How can we embrace the new without discarding the old?

How can we ensure that our drive for innovation complements, rather than conflicts with, our existing wins?

Let's unpack how we can not only keep up, but stay ahead.

Today in 6 minutes or less:

✔️ The Kodak moment you DO NOT want

✔️ …it’s personal

✔️ 6 ways to innovate in your biz + life

THE KODAK MOMENT YOU DO NOT WANT

You’ve probably heard of the Innovator's Dilemma.

Here's the crux of it: Initial success can sometimes be your own trap.

You've found a winning formula, and the temptation is to stick to it. Why change something that's already working?

But here's where businesses trip up…

Let's zoom in on a classic case that perfectly illustrates this concept. Remember Kodak? Yep, the camera guys.

Back in the day, Kodak wasn't just a company; it was an icon, synonymous with capturing memories. They were the leaders of the photo game.

They were among the first to invent digital camera tech in 1975, a major innovation.

But here’s where they messed up – they hesitated to push this technology forward.

Why? Because they feared it would undercut their super-successful film-based business.

⏩️ Fast forward a few years, and the digital revolution they had in their grasp swept over the globe – led by others.

They were sitting on a goldmine, but they clung to their old ways like a life raft. Then, they missed the boat they built. 👋 

Moral of the story? Don't be Kodak.

In our SaaS world, it’s easy to play it safe. But safe doesn't lead the pack.

The goal isn’t just to recreate success; it’s to redefine it. Our businesses should not be time capsules, but time machines – always moving forward.

…IT’S PERSONAL

Innovation extends beyond tech and business; it's crucial in our personal lives.

Whether it's surprising our partners with something extraordinary or transforming a weekend with our kids into an unforgettable adventure…

Innovation in relationships is about being attuned to subtle needs and desires.

Just like you need to have your finger on the pulse to know what’s coming next in the SaaS world, you need to be fully present with your loved ones to know how to innovate in those relationships.

The truth is that true innovation can’t be automated. 

You’ve gotta be intentional, set aside time, and make it happen.

So, I’m sorry if you spent the first 2 weeks of Jan planning out every minute of 2024 in Google Calendar…

Stepping out of your routine is healthy, and it’s actually what your relationships need in order to stay exciting and grow.

Here’s an example: You bring your wife coffee every day. That’s a thoughtful thing to do, and I’m sure she appreciates it. There’s beauty in consistency and dependability.

The first week you do it, she’s surprised and delighted. But as time goes on, it becomes the norm.

Now, what if you bring her coffee AND a bouquet of flowers one day? Coffee and a handwritten note?

Innovating in relationships requires little time or energy to do well. It just requires intentional effort.

It's about breaking routines, not for change's sake, but to deepen and enrich connections.

6 WAYS TO INNOVATE IN YOUR BIZ + LIFE

For Your SaaS Agency:

• Test and Learn: Introduce new features or services in a controlled environment. For instance, offer a new automation or a new marketing service to a small group of clients. Gather feedback, refine, and then scale. This keeps your service offerings dynamic and responsive.
  

• Branch Out: Consider broadening your reach or stepping into a different niche. Explore different industries, and develop tailored solutions for varied needs. For example, if you suddenly find yourself in a social circle of dentists, but you currently only service roofers… Consider offering your services to dentists. This not only hedges against market shifts but also sparks new innovation as you adapt your SaaS to diverse requirements.
  

• Feedback is Gold: Encourage your team and clients to provide input on your services. This can be as simple as a feedback form or ending a sales call by genuinely asking how you did. Use their insights to guide your innovation strategy. This collaborative approach ensures your innovations are grounded in real-world needs and expectations.

For Your Personal Life:

• Communicate Creatively: Change up your communication style. If you find yourself only ever texting your friends and loved ones, it can get stagnant. Surprise notes, unexpected calls, or new conversation topics can bring a fresh spark. Snail mail is a go-to for me.

• Active Listening for Growth: Tune in to the evolving interests of your loved ones. If you heard your wife talking about how much she’s loving the new Ariana Grande single, why not surprise her with concert tickets? Surprise and delight, folks!

• New Experiences, Stronger Bonds: Inject novelty into your relationships. Try new activities, go to new places, and create memories that last. Break out of the routine. Even something as simple as a date idea generator allows you to leave things to chance, surprising both your partner and yourself with a totally fun and unexpected date.

Innovating isn't just a one-time event.

It’s a mindset shift. A constant journey of asking "What's next?" after every single win.

We need to be like Ariana Grande and ask, “yes, and?”

• Yes, this strategy is working right now…

• And how can I look forward and make it better?

This is your sign not to get stagnant. Keep looking for ways to innovate in your professional and personal life.

And definitely don’t be Kodak.

To profiting more and working less. 💸 

-Matt

News you want to read...

🤖 Amazon is selling products with ai-generated names like "I Cannot Fulfill This Request It Goes Against OpenAI Use Policy"

💤 A recent study reveals that maintaining a consistent sleep schedule is more important than the number of hours you sleep each night.

💰️ Can AI wealth management make you rich? TBD. But check out the newest AI tools you can use to help you make smarter financial choices.

👑GOLDEN NUGGET OF THE WEEK 👑

How would you like access to my notes and audiobook recording of the $350 copywriting book that has most shaped our marketing? ⬇️ 

This is your last chance to grab the free audiobook and training from SaaSmas before I take it down.

READY TO JOIN THE HL PRO TOOLS FAM?

Ready to kick your agency into high gear? HL Pro Tools has got your back with two awesome options to join our community and start making moves:

🌟 Get branded support for your HighLevel agency @ hlprotools.com. We give you all the tools you need to kick SaaS, complete with personalized branding that will make you feel like a boss.

🌟 Join our Facebook group and connect with other CEOs who are revolutionizing the game by sharing insider tips and tricks that will make you feel like a true industry leader in no time!

HAVE A TOPIC YOU’D LIKE ME TO COVER?

Sweet! I’m all ears.

Here’s your VIP pass to shape the future editions of Margin Makers 👇

Submit your ideas here.

DID A FRIEND FORWARD YOU THIS NEWSLETTER?

First, give them a BIG thank you!

Then, subscribe here to get your free weekly dose of entrepreneur life hacks.