Mission

About
"

Services – Innovate & Incubate

More

Though Leadership

More
Currently viewing the category: "Technology"

On Forbes: 10 New Rules for Mobile Payments and Loyalty Startups

By On · Leave a Comment · In Customer Experience, Entrepreneurship, Feature, Financial Services, Innovation, Mobile, Payments, Retail, Startups, strategy, Technology

This is a repost of Steve Faktor’s original Forbes article

My business is helping companies speed up innovation – often by partnering with tech startups. A wilder ride compared to my days leading innovation at Fortune 100 companies. But lately, I’ve experienced enough déjà vu to get a platinum medical marijuana card. Maybe you’ve heard of “multiple discovery”. The theory says that similar inventions happen simultaneously because of converging technologies and common problems. Among mobile payments and loyalty startups, easy money is fueling what I call “marginal discovery” – slight variations on similar ideas. For every truly outstanding startup, five or six have a faulty premise, fail to solve a problem, or choose “cool” over simple. To protect the innocent, I’ve turned my list of frustrations into a set of “rules” to help budding entrepreneurs and experienced executives steer clear of the weed dispensary…

Continue reading »

Tagged with: • • • • • • • • • • • • • • • • • •
 

The iPad Mini: Two Weeks of (First World) Suffering with an Adult Toy

By On · Leave a Comment · In Culture, Design, Mobile, Technology

This is a free bonus post for registered users only.  Just log in (below) or via social network (on the right).

 

I had to get an iPad for a startup I’m working with.  Despite my tireless dedication to their cause, I also tried to squeeze some pleasure from this adult toy. Like finding a Porsche on Gilligan’s Island, this sexy slab of tech taunted me – daring me to figure out why I needed it.  I learned that I didn’t, but got a firsthand glimpse into first world suffering. A condition no amount of inspirational Facebook posts can cure.  So here’s the good, the bad, and the ugly of it all:

Continue reading »

Tagged with: • • • • • • •
 

Steve Faktor on Finding Fulfillment in the Digital Workplace (CMS Wire Interview)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Psychology, Social Media, Technology, Trends

An interview I did with CMS Wire:  Steve Faktor on Finding Fulfillment in the Digital Workplace.

By  (@blakelandau)   Jan 21, 2013

Steve Faktor is the author of Econovation and the Harvard Business Review article “Happiness Will Not Be Downloaded.” Faktor is an entrepreneur, futurist and digital commerce expert. He was a senior executive at American Express, Citi and MasterCard.

Faktor spoke earlier this month at the New Media Expo on “What the crowd will do next: How Social Currencies will Re-define the Economics of Work.” In our interview Faktor talks about how one “can’t deposit retweets at Wells Fargo” or “use FB Likes for cab fare.” He also unpacks the state of knowledge work in the age of social business.

Log in to read on IdeaFaktory or read the rest at CMS Wire

Continue reading »

Tagged with: • • • •
 

On LinkedIn Today: Unrig It Yourself! (A New Year’s Intervention of Hope —for Doers)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Entrepreneurship, Feature, Government, Psychology, Technology

This is a re-post of Steve Faktor’s original article on Linkedin Today (via LinkedIn’s INfluencer program)

Before the holiday, Matt Damon was quoted saying “the system is rigged.” Immediately, I felt horrible. If the world is against this handsome, famous millionaire, what hope does a business hobbit like me have?

It’s not the first time I’ve heard this feel-bad, defeatist mantra. It was a cornerstone of the 99% protests and famously reiterated by Elizabeth Warren, now Senator Warren. (And brilliantly rebutted by Adam Carolla). On the right, an anarchist flavor of the same pessimism is brewing. Conspiracy ringleaders like Alex Jones are quietly mobilizing an angry, disenfranchised army. In uncertain times, it’s easy to succumb to paranoid defeatism. Why? Because it excuses failure. It de-stigmatizes the shame of not trying. It justifies hating the other guy’s success or telling those with nothing to fend for themselves.

Let’s say the system is rigged and everything is a conspiracy. Now what? Do you keep stocking your bunker with guns, canned goods, and homemade jerky? Or, sleep until noon on mom’s couch, then rail online against your oppressors – in your underwear? Instead you can focus on the incredible list of things you can control. In fact, the only time better and more empowering than today is tomorrow. The real revolution already started, but an entire generation of young and able-bodied Americans is about to miss it. Here is their recipe for The Great Unrigging – and to never accepting excuses again.

Continue reading »

Tagged with: • • • • • • • • • • • • • • • •
 

On Forbes: The 9 Corporate Personality Types And How to Inspire Them to Innovate

By On · Leave a Comment · In Business Process, Culture, Feature, Innovation, Psychology, Segmentation, Technology

This is a repost of Steve Faktor’s original article on Forbes.

In a way, innovation is like sex: those talking about it most are probably doing it the least. Before founding IdeaFaktory, I’ve had the privilege (and collateral hair loss) of innovating at top Fortune 100 firms, where ‘talk’ was unavoidable. So I decided to codify my lessons as The 4C’s of Innovation(TM). These are: context, creativity, capabilities, and most importantly, culture.  Any innovation worth doing demands cultural change. But who will lead that change? And who will reject it? Why does the same ra-ra event move some employees to tears, but lands like the Hindenburg with others? No need to hire an army of psychologists to electroshock your workforce for answers. Unlike fluffier lists of people to hire, I’ve profiled the nine kinds of people in your company now  who will make or break any innovation or change initiative.  (For more on culture change, also check out my new podcast with this week’s guest Stan Slap.)

Continue reading »

Tagged with: • • • • • • • • • • • • • • • • •
 

On Forbes: Three Ways to Reinvent Retail for Men

By On · Leave a Comment · In Customer Experience, Feature, Innovation, Psychology, Retail, Segmentation, strategy, Technology

This is a repost of Steve Faktor’s original article on Forbes

To many men, shopping for clothes is like doing your own brain surgery – you’re in no condition to know when you’ve screwed up. Sure, single men must dress up to attract mates. Those poor, unsuspecting women have no clue what fashion nightmares await them. Marriage does to men’s fashion what irritable bowels do to romance. Things get even worse at work. The more casual the office, the more likely we are to see mangled toes and bloated bellies. Even billionaires wear outfits that scream “I sleep in a box.” Of course, it’s the rest of us who need to keep trying. Unfortunately, men’s clothing stores have failed miserably. The shopping experience is hardly painless, especially at department stores. They have the most resources, space, and selection, but they’re packed with men wandering aimlessly like an exiled Judaic tribe.

When I was at MasterCard, I led a project called Total Shopping Solution. Eventually, we commercialized it as two very successful services, Commerce Intelligence and Commerce Coalition. Over the years, I’ve thought a lot about intra-store shopping experiences, especially during all those wasted hours looking for clothes to fit my beefy frame. With today’s technology and some low-tech ingenuity, department stores can reinvent the men’s shopping experience. (After reading this article, I hope they’ll also reimburse me for the the years I’ve lost  trying on ill-fitting pants.)

Continue reading »

Tagged with: • • • • • • • • • • • • • •
 

PSFK’s Interview with Steve Faktor: Fostering Innovation In The New Workplace [Future Of Work]

By On · Leave a Comment · In Culture, Economy and Jobs, Feature, Psychology, Real Estate, Social Media, Technology, Trends

This is a reprint of the original interview I did with the popular innovation blog from consultancy PSFK. 

We talk to innovator, futurist, and author of the book ‘Econovation’ about how impermanence, gamification and sensory stimulation are crucial in today’s developing office culture.

As part of our Future of Work Series, PSFK reached out to experts to get their take on the changes we’ve identified that are currently going on in the workplace. We recently chatted with Steve Faktor (@ideafaktory), author of Econovation (Wiley), founder of the IdeaFaktory incubator, and former Vice President and head of the American Express Chairman’s Innovation Fund. Following Steve’s popular series of articles on work and happiness in Harvard Business Review, we asked his thoughts on how social, generation gaps, and what jobs we do will change the workplace.

Continue reading »

Tagged with: • • • • • •
 

On Forbes: How HP Could Reinvent 3D Printing…and Itself

By On · Leave a Comment · In Feature, Innovation, Manufacturing, strategy, Technology, Trends

This is a repost of Steve Faktor’s original article on Forbes

The current two dimensional HP logo used on co...

Writing “HP is in trouble” is like a newscast starting with “Trouble in the Middle East today…” A sad cliché. Lucky for HP, no one dies… But no one truly lives, either. The company just laid off 29,000 people, its stock dropped 50% in a year, and yet another turnaround is brewing. I do admire Meg Whitman for taking this on. She could easily have kicked back in Florida with a Honey Boo Boo marathon. Instead, her strategy announcement got the kind of reception typically reserved for Syrian dictators. That got me wondering – can a stagnating behemoth ever live again? Could HP lead the 3D Printing revolution?

Continue reading »

Tagged with: • • • • • • • • • • • • • • • • • • • • • • • • •
 

How Office Dwellers Can Become Doers (Harvard Business Review)

By On · Leave a Comment · In Culture, Economy and Jobs, Feature, Innovation, Psychology, Technology, Trends

This is a re-post of my original article on Harvard Business Review

I’ve often fantasized about hurling my laptop over Niagara Falls, then grilling a fresh salmon to celebrate my sensory liberation. I’d become a Maker. I’d build a sailboat to circle the globe. I’d live off the sea, fending off killer whales and Somali pirates. I’m not alone in yearning to resuscitate my flabby Tweeting muscles. As I’ve written before, there’s plenty of evidence that people who make a tangible product, use their senses, and help others are happier than mere office dwellers. But let’s face it, Microsoft won’t pay you to conquer the Amazon or extract salmon roe. Offices are where the work is. Which explains why I’m here — with you — writing about making things instead of weatherproofing my pirate-repelling catapult. But there is a glimmer of hope for us Clickers, Copy/Pasters, Conference-Callers, and Collators. In this digital office world, happiness can — and must — be simulated.

Continue reading »

Tagged with: • • • • • • • • •
 

Are you TED-worthy?

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Feature, Innovation, Psychology, Social Media, Technology, Trends

In one episode of Seinfeld, Elaine finds out the birth control sponge was discontinued. So she buys up all available inventory and obsesses over how “Spongeworthy” her many suitors are. Like Elaine, we luxuriate in the abundance of the information age, but it also hides some uncomfortable scarcities. In watching the recent TEDGlobal event in Scotland, it occurred to me that TED is much more than a collection of great talks. TED is that selective lover that doesn’t fish out fresh sponges for just anyone. In that way, TED offers us a glimpse into our future – an unnatural selection of sorts. It foreshadows what success – and even survival will look like in the next century.  Of course like any great story, it’s full of lessons for you-me-us.

Continue reading »

Tagged with: • • • • • • • • • • • • • • •
 

Happiness Will Not Be Downloaded (Harvard Business Review)

By On · Leave a Comment · In Culture, Economy and Jobs, Econovation, Entrepreneurship, Feature, Psychology, Technology, Trends

This is a re-post of my original article on Harvard Business Review

Happiness Will Not Be Downloaded - Steve Faktor - Harvard Business Review

Over the last decade, I’ve watched hundreds of cooking shows. It’s a matter of time before Martha Stewart demands UN sanctions for my stockpile of useless culinary knowledge. In reality, my own cooking is a malignant medley of boiled ravioli, lopsided omelets, and fresh veggies dying of embarrassment. So why do I torture myself with shows about food I can’t touch, taste, or feel guilty about? The answer will surprise you … and possibly change your life.

The proliferation of cooking shows, blogs, celebrity chefs, and their inevitable diabetes drug endorsements proves that everything is better wrapped in bacon. But cooking also taps into something more primal: it’s one of the last jobs that still does what most of us don’t — make things. In this sterile, white-collar world, where meat comes from ShopRite and homes are built by “guest workers,” cooking is the last physical job we can relate to.

Continue reading »

Tagged with: • • • • • • • • • • • • • • •
 

Oh Digital Content Curator, How I Yearn for Thee

By On · Leave a Comment · In Culture, Segmentation, Social Media, Technology, Trends

It wasn’t very often that my parents took me to the museum.  Let’s face it, we were poor immigrants and Brooklyn already featured five Pakistani shops for cultural diversity. Plus, I’m pretty sure that my parents were faking their interest in art for my benefit. No one would mistake our one bedroom apartment for the Louvre. A loo, maybe. I could tell they were faking it when my engineer dad tried to straighten one of the lopsided installations at the Guggenheim. OK, I’m not sure that actually happened, but I remember him grumbling that no one there would ever land a job at his old Soviet aviation plant. A coveted prize.

As an adult, I’ve come to appreciate how those lopsided installations and grotesque paintings got inside the MOMA. Often, it’s the work of a slight, somewhat effeminate, persnickety man dubbed, “The Curator” *. He grew up fetishizing art, learning what inspired Picasso, and hoping his parents don’t discover his secret: that he’ll never become the race car driver they’d hoped for.  This preening prodigy spent his whole life admiring objects he couldn’t afford – waiting, pining away for that moment when his stature could finally catch up to his snootiness.  Today, he dresses to impress. And, celebrities from Elton John to Ricky Martin can’t wait to marvel at his huge…collection.

Continue reading »

Tagged with: • • • • • • • • • • • • • • •