I bought a pair of uggs the other day after my crappy old slippers died. I love them. They’re warm, comfortable and ugly as. Every night I slip them on and they bring instant comfort. It could be that it’s particularly freezing in Wellington at the moment but overall I think they’re superb.

These uggs have got me thinking about other things that make a difference to everyday life and how important new innovation and ideas are.

Just think of the progress in the financial services sector in recent times. If we go back to credit cards, then Eftpos, then phone and online banking, now services like Wesabe or Xero – these are all tools and services that have created or are creating a real benefit to users’ everyday lives. Transactions are simpler. The benefits to the user are absolutely obvious.

The successful business or product formula in today’s world is:

How does this benefit everyone, everyday?