About This Discussion:
Nick Mysore with N-Power Ventures has an extensive background in corporations in addition to start-ups. He has worked in various marketing roles with large brands like Dean Foods and Frontier Communications, along with smaller brands and now consulting.
In this conversation with Nick, we discussed all things innovation, not just in marketing, but what large corporations are doing wrong when it comes to analyzing and creating a case for their innovation lab in addition to hiring the right teams. We also discussed how start-ups can be more strategic with their resources to scale and grow quickly, even with a smaller budget.
About Nick Mysore:
Nick Mysore is an accomplished business leader who has led transformational growth in multiple industries with a specific focus on consumer-packaged goods and technology.
He has over 20 years of experience driving growth, leading high-performing teams, creating iconic brand strategies, and implementing breakthrough innovations for growing revenue and profits. He is equally skilled at both organic and inorganic growth. Additionally, he has expertise in launching new businesses and innovative brands, for both large and entrepreneurial firms.
Nick has held senior positions such as Managing Partner of NPower Ventures, President and CEO for Vim Vitae, VP of Strategy for Frontier Communications, Head of Market Strategy at Dean Foods, Sr. Director of Enterprise at ConAgra, and General Manager of TXU Energy’s Out of Territory Energy division and Director of Strategy for Verizon.
Here is the official episode breakdown:
2:10 - Nick’s journey from marketing to consulting for major corporations but advising under various circumstances
4:25 - The research required to launch a multi-million dollar brand and some of the mistakes that were made
6:15 - The team that’s required for true innovation
8:30 - What are the differences between a large brand launching a huge brand vs. a small brand trying to get out of the gate, and what do you do with limited resources
9:00 - A simple trick when trying to find the niche that you can market your brand to
12:30 - The three basic types of innovation
13:30 - How can large corporations eliminate the innovation barrier?
15:00 - A simple way large companies can analyze innovative initiatives
16:00 - How can corporations think differently in terms of innovation and ROI
18:20 - What is the key feature that an innovation team must have to succeed
20:10 - What kind of mix of talent do you need to build the right innovation team
22:23 - How easy is it for corporations to build the right team of people for an innovation lab?
24:34 - Discussing the changes in innovation coming to various industries, like food and energy
27:30 - The importance of innovation labs
29:13 - How has social media changed the landscape of marketing in today’s world
31:03 - Are corporations using influencers in the correct way when it comes to marketing their brand?
33:40 - Is America going to fall behind on the innovation scale because we are more leery of sharing our data?
36:30 - Different ways to look at innovation and why money isn’t everything
37:50 - How shortsightedness affects venture capital firms
39:40 - What’s a venture builder vs. a venture capitalist
42:10 - We take a spin and start talking health and drugs and how innovation is also within those industries
45:10 - Great uses for AI and how we can use it within different technologies
48:10 - More ways to build innovative ideas for your brand that doesn’t take you away from your day-to-day job
49:30 - Why as a society we should learn to embrace failure and how we can learn from those mistakes
You can find Nick on LinkedIn https://www.linkedin.com/in/nickmysore/ or connect with him at: [email protected]
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