The Innovator Mindset

Welcome to Making Bank. On today’s episode, we have Bob Moesta, President & CEO of the Re-Wired Group.

Bob Moesta is a Builder, Creator, Maker, and Teacher. Bob has been an innovator and has been building things for more than 40 years. He has worked with people like W. Edwards Deming, Dr. Genichi Taguchi, and Prof. Clayton Christensen, Jason Fried & Ryan Singer. He is one of the principal architects of the Jobs-To-Be-Done theory. Bob has continued developing, advancing, and applying the innovation framework to everyday business challenges in various industries. He has dedicated his life to developing products and services that help people make progress in their life.

Listen all the way till the end. A lot of valuable information is unpacked by Bob.

3:00 – Bob’s First Company
Bob’s first company was building speakers in Detroit, something called Big Trash Day. He would collect speakers and refurbish them and resell them to their neighbors. Bob’s mom often said that he was an engineer out of the womb but an entrepreneur by the time he was nine. Bob had learning disabilities from a young age on account of several brain injuries so he had to invest in learning in different ways which allowed him to look at problems innovatively.

7:18 – The Common Thread Of Success
While Bob loves technical things, especially in business. His heart is really in helping people. Finding out what people’s problems and needs are and then finding ways to help them. He calls this right-to-left thinking. Finding a demand and what people’s needs are and then technically designing a product and taking it to market. This principle applies if you study the demand first and then shape products accordingly.

10:39 – What Makes A Person Innovative
There is a difference between an inventor and an innovator. An inventor is someone who comes up with ideas. An innovator is someone who comes up with ideas to solve actual problems. If you can successfully figure out ideas that will solve problems that are relevant in the world, you’ll start to look at solutions that actually solve problems. It’s funny that in most business schools, people never teach selling. If you study why people buy and understand that, it will help guide all the solutions you make.

15:20 – “Learning To Build” – Bob’s New Book
Now at the age of 57, Bob reflected back on all his idea notebooks and began to draw patterns from them. In his book, he lists 5 Primary Skills that everyone needs for building effective businesses and products. These can be applied by anyone to help entrepreneurs and guide them on which part of the market to really focus on and develop.

Links Mentioned:
https://www.linkedin.com/in/bobmoesta/
https://www.bobmoesta.com/