Innovation & Institutions, Will it Blend?
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Innovation & Institutions, Will it Blend?
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Scooped by Deb Nystrom, REVELN
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Beware the Entrepreneur's Recoil, Toxic to Innovation

Beware the Entrepreneur's Recoil, Toxic to Innovation | Innovation & Institutions, Will it Blend? | Scoop.it

"When we pull back, stop innovating ourselves and rebuff innovation and creativity from employees, we create an idea-killer emotional virus that destroys the very culture that got us where we are. "


Great piece on dealing with the cycles of innovation, success, risk.  Entrepreneurs get to be SO good at dealing with barriers, problems, set-backs and failures that success itself becomes another hurdle to overcome.


Excerpted, Jonathan Fields:


One of the biggest misses in the entrepreneurial process and mind is the assumption that mindset and willingness to embrace risk and creativity are fixed traits. In fact, the more successful most people become, the more they abandon the very mindset that fueled their success.


I call this the Entrepreneur’s Recoil.


So when you start a business, you adopt a do or die, all-in mindset. You come up with and are open to crazy ideas in the name of creating breakout businesses. And you’re willing to act on them. Because, beyond ego, even if you fail, the fall really won’t cause that much pain.


But, then something happens. You succeed.


Your mindset begins to shift into what famed psychologist and winner of the Nobel Prize for behavioral psychology, Daniel Kahneman, calls loss aversion mode.


1)  Rather than being driven by what you can build, create and have, you are overwhelmed by a fear of losing what you’ve already amassed.


2) Loss avoidance cultivates a strong negative creativity bias that makes us say no to innovative ideas.


When we pull back, stop innovating ourselves and rebuff innovation and creativity from employees, we create an idea-killer emotional virus that destroys the very culture that got us where we are. It breeds loss-aversion, fear and scarcity, which is death to innovation and expansion.


So...

Take a step backand ask a big question -
“Am I operating from a place of creative opportunity or loss aversion?”


Photo credit:  sean dreilinger, Flickr

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Scooped by Deb Nystrom, REVELN
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Finding Innovation Help Next Door, Even in your Past, Forgotten Experience | Innovation Excellence |

Finding Innovation Help Next Door, Even in your Past, Forgotten Experience | Innovation Excellence | | Innovation & Institutions, Will it Blend? | Scoop.it

Great examples of ways to cultivate innovation - other companies in other industries, other verticals:  “Who else has solved a similar problem?”


A medical device company that made angioplasty equipment wanted to create a computer simulation that would predict how the “balloon” would expand.


Where did they turn for an accurate computer model?


In the past, they worked with car manufacturers and built statistical models that simulated the expansion and contraction of airbags. This proved to be a wildly accurate way of predicting how a balloon catheter would operate.


When you are working on your next business challenge, ask yourself:

“Who else has solved a similar problem?”


In doing so, you might significantly accelerate your innovation effort.


Blog author Stephen Shapiro is the author of five books including “Best Practices Are Stupid” and “Personality Poker” (both published by Penguin). 

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