About the Authors
David Minter and Michael Reid joined forces in 1999 to help world-class brands develop broadly appealing ideas for new products and services that have netted billions of dollars. With more than 25 years of experience each, Minter + Reid have just penned their first book, Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work.
Throughout his career, Minter has worked with high-growth companies to bring new ideas to the marketplace. Minter began his career at Motorola Inc., where he was responsible for product planning and competitive analysis. He then joined Dole Food Company, where he managed the analysis of international market information, and was responsible for new business development.
Minter was a senior marketing executive responsible for Blockbuster, Inc. directing all consumer research, with specific expertise in entertainment, technology and retail.
He earned his bachelor of business administration and master of business administration degrees, cum laude, from Florida Atlantic University, and lives with his wife and son near Denver, Colorado.
Reid’s expertise includes design, management and analysis of qualitative and quantitative research in telecommunications, entertainment, media, packaged goods and utilities. He has helped several of the world’s largest cable companies develop digital and telephony products; developed a new music testing system for major labels to dramatically increase the odds that a new single will “chart”; and uncovered specific consumer preferences that have helped The New York Post and Denver Post achieve the highest circulation growth in the newspaper industry.
Additionally, Reid has worked side-by-side with Minter in developing Blockbuster’s online rental strategy, DVD in-store sales and DVD trading—programs that contributed to Blockbuster’s 47 quarter record for continuous same-store sales growth.
Reid is a Fulbright Scholar who earned his bachelor of arts at Doane College and master of arts at Phillips University (Marburg an der Lahn, Germany). He lives with his wife and children in Denver, Colorado.
Their new book, Lightning in a Bottle: The Proven System to Create New Ideas and Products That Work has a track record that cannot be ignored or denied: Where research shows that the national success rate for business ideas is 1 in 10, Minter and Reid’s IDEA ENGINEERING boasts a success rate of 1 in 2! |
Reviews
"Creating a new product that is successful is truly like capturing Lightning in a Bottle. Having worked with David Minter before and seeing the way in which he can distill seemingly disparate data, trends and attitudes to create a compelling and actionable plan of attack, I was certain that he and Michael Reid would be able to capture that essence in their book. They have certainly done that. I would strongly suggest that all marketers read this book before they decide to launch a new product, line extension or enter a new line of business.”
—Mark R. Goldston, chairman and CEO, United Online, Inc., which includes NetZero, Juno, Classmates and MyPoints.com brands, and author of The Turnaround Prescription. Previously COO at L.A. Gear, CMO at Reebok, president of Faberge USA, Inc., and an inventor-of-record of numerous U.S. patents
Lightning in a Bottle |
ISBN: |
978-1-4022-0734-1 |
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1-4022-0734-4 |
Price: |
$19.95 U.S. |
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$24.95 CAN |
Hardcover: |
224 pages |
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About the Book
New Book Defines IDEA ENGINEERING: Neglected Practice Worth Billions
Consultant Team Touts Success Rate of 5X the National Average
When it comes to new business and product ideas, large organizations usually employ a random and disorganized system of brainstorming, focus groups, and quantitative consumer research. The result: 9 out of every 10 new products introduced to the marketplace fail.
David Minter and Michael Reid, top product / innovation consultants, and author of the new book, Lightning in a Bottle: The Proven System to Create New ideas that Work, say the accepted idea systems are broken, and have developed the solution:
Idea Engineering is their disciplined, seven-step system for developing products and services, and it boasts a staggering market success rate of better than 1 in 2. (National Average: 1 in 10) It has already netted billions of dollars in revenue and growth for clients such as Blockbuster, News Corporation, Jamba Juice, Einstein Bros. Bagels, Motorola, Sony, and Viacom.
Where traditional product generation systems are driven by fuzzy marketing, brainstorming, focus groups and segmentation—three of the main reasons why most companies’ idea machine is broken—Lightning in a Bottle’s Idea Engineering is moved by disciplined, financially driven methods which help guarantee that only successful ideas make it to the marketplace.
Unlike every other book on the same topic, Minter and Reid’s Lightning in a Bottle bucks against the business world’s most widely accepted practices, reveals many of the dirty little secrets of research, and most importantly, has the bona fide results to back up their claims; a must-have guide book not only for the Fortune 500 CEO, executive, or manager, but entrepreneurs, future entrepreneurs, and inventors at any level.
More Reviews
Those In The Know are Catching
LIGHTING IN A BOTTLE
"The first 84 pages harpoon the prevalent processes (including brainstorming, focus groups and quantitative consumer research) for generating new ideas that bring new products to market. Rightly so – 9 out of 10 new products fail. With a consistent 90 percent failure rate, you’d hope the “thinkers” would be open to these fresh ideas. Here are a few of them:
Less is more. It’s not the number of ideas you have, it’s the quality of each. The more ideas you have actually makes it harder to assess the quality of each. Why? There simply isn’t enough time, people or money to properly evaluate all of them. As a result, true top-to-bottom development of an idea never really takes place. Internal competition develops, too, as factions promote their ideas.
The fewer people that work on ideas the better. Idea development should apply “Too many cooks spoil the broth.”, not “the more the merrier.”
Forget market segmentation. There isn’t the time, people or the money to effectively develop multiple market segments. Think of it this way: In order to participate in four discrete markets, you have to divide your existing resources four ways. There’s no guarantee that one-fourth of your resources will allow you make a dent in any market segment. By concentrating your resources in your core segment, you can make an impact."
—Jim Pawlak, Biz Books columnist
"Once you have caught Lightning in a Bottle, you will never look at ‘new ideas’ the same way. David Minter and Mike Reid have developed a model with the potential to create immediate value for your company or organization."
—H. Wayne Huizenga, founder and former chairman, AutoNation, Inc.; founder and former chairman and CEO, Blockbuster Inc.; founder and former chairman, Waste Management, Inc.; founder and former chairman, Boca Resorts, Inc.; Owner, Miami Dolphins.
“Lightning in a Bottle exposes why so few new products and services succeed in the marketplace, and what to do about it. It’s not fancy or complicated – it just works.”
—George Dean Johnson, Jr., co-founder and former CEO of Extended Stay America, co-founder and chairman of Advance America, former president of Blockbuster, Inc.
“Minter and Reid know what they are doing, and in Lightning in a Bottle they share their keys to business success in language that is clear and compelling. This book is indispensable to anyone interested in innovation in today’s marketplace, and especially to anyone interested in profitable innovation.”
—Al Baldocchi, private venture capitalist specializing in high-growth restaurant companies; Member of the Board of Directors of and early investor in Chipotle Mexican Grill.
“Thunder, lightning, typhoons; Minter & Reid make it happen. The wisdom delivered in Lightning in a Bottle elevated our company’s innovative, big idea to reality. Put down whatever you’re reading, and capture Lightning in a Bottle.”
—Tyler T. Tysdal, founder and president, SmartCare Family Medial Centers; Managing Partner, TIVIS Ventures, a private investment company and management partner specializing in funding and developing high potential start-ups.
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