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Contrary to popular perception, a new business idea is less about any new breakthrough technology, but rather it involves using existing technologies solve current problems. An example of this is the fact that when Whatsapp was scouring investors for its first round of funding, it was no high level technology that was done, but simply focus on the product. The business innovation that the Whatsapp developers did was with a lot of focus as they were clear as to what they wanted. They knew that it wasn’t inventors who innovate but those who can scale up for the masses to use. The initial thought process went into sourcing users rather than money or advertisements as they knew that their business model relied on volume and monetization would occur once people got hooked to the product. Thus instead of giving primacy to experiments inside the lab, innovation must rely on experiences provided to customers.

Source: https://hbr.org/2016/07/whatsapp-grew-to-one-billion-users-by-focusing-on-product-not-technology

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