How to Build an Innovative Company: Jon McNeill's Simple Steps

Jon McNeill, the former president of Tesla and Lyft, shared his insights on innovative thinking during the World Business Forum in New York City. He introduced the idea of "innovation by subtraction, " which emphasizes simplifying goals and processes to achieve massive success. McNeill highlighted Tesla's experience in 2017 when the company faced bankruptcy and aimed to increase online sales of the Model S by 20x. They reduced the buying process from 63 clicks to 10, making it simpler for customers. McNeill suggests questioning every requirement, deleting unnecessary steps, and simplifying processes. He encourages managers to spend time understanding their product and customer journey. Simplifying first allows for effective optimization and automation later. Additionally, McNeill advises focusing on the entire customer journey, injecting urgency into key tasks, and experiencing the product as the customer does.