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The Paradox of Innovation Drives Stagnation

I've been observing and thinking about the paradox of early adoption and innovative companies, the one who first to identifies a need for improvement and develops working solutions before any commercialized solutions exist. They often hire a small internal team or contractors to build the technology in-house to fill this gap.

However, as the technology develops and matures, the team that was once driven to innovate and create solutions for the company becomes resistant to external solutions. They become so invested in their creation that they refuse to let it go, even when a better solution becomes available and there are other new areas for them to invest in. Interestingly, more traditional companies will lag with innovation first but are more open to proven new products and technologies. This phenomenon is sometimes called the "NIH" or "not invented here" syndrome. It can be a significant obstacle to progress, as companies become bogged down in their internal processes and fail to take advantage of new ideas and solutions.

I've seen this happen firsthand across industries. A product developed in-house may be a great solution when no other alternatives are available. Still, convincing the original team to switch over can be difficult when a commercial company that invests significant resources to build a 10X better product. As much as we might love our creations, we must recognize that there are often better solutions due to technology availability, expertise, significant investments, and resources.

As a company that offers technology to others, we know firsthand how critical it is to stay on the cutting edge of innovation. It's essential to stay open-minded and adaptable, always listening to customers' feedback and trends and seeking new opportunities to improve our products and services. Just because something worked in the past doesn't mean it will work forever. We must continue pushing boundaries and driving progress by embracing new technology and ideas to do better and drive improvement in our industries.

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