Advice: Don't be a technology company. Profits are a function of how much people want your product, not how much you spend on R&D. If you can make something people want for zero R&D, versus making something people want that requires a huge investment, the intelligent choice should be obvious.
This is the premise of Seth Godin's book Free Prize Inside. That is, you could spend 50 million dollars inventing a new cereal that will double sales if it succeeds (but will most likely fail), or you could double sales just by putting a free prize inside.
Invention means to create new technology. Innovation means to recombine old technologies for a new purpose.
Technology companies invent. Technical companies innovate.
Advice: Don't be a technology company. Profits are a function of how much people want your product, not how much you spend on R&D. If you can make something people want for zero R&D, versus making something people want that requires a huge investment, the intelligent choice should be obvious.
This is the premise of Seth Godin's book Free Prize Inside. That is, you could spend 50 million dollars inventing a new cereal that will double sales if it succeeds (but will most likely fail), or you could double sales just by putting a free prize inside.