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You too can be a great innovator, if you just learn to work with this

https://www.fastcompany.com/90579818/you-too-can-be-a-great-innovator-if-you-just-learn-to-work-with-this

fastcompany.com

You too can be a great innovator, if you just learn to work with this
A researcher and entrepreneur says that innovators are much more comfortable making decisions under conditions of uncertainty than the average person.

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Innovators don't take more risk

Innovators don't take more risk

Research has shown that innovators and entrepreneurs don't take more risk than the average person. However, they are more comfortable making decisions in uncertainty.

They have a set of skills that allows them to navigate in uncertainty. These skills can be learned and practised by anyone to improve their innovation skills.

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Risk and uncertainty

  • Risk is when the factors that determine success or failure are out of your control, but the odds of success are known.
  • Uncertainty is when the factors that determine success or failure are not out of your control but are simply unknown. It is playing a game that you do not entirely know the rules of.

Risk analysis is a rational and calculation-driven process, while uncertainty triggers the fight-or-flight response. Innovators don't ignore risk. They are able to maintain their analytical capabilities in the face of uncertainty.

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The two categories of innovation

  • Delivery skills. Skills include quantitative analysis, planning, detail-oriented implementation, disciplined execution.
  • Discovery skills. Theses skills are more involved in developing ideas and managing uncertain situations. It includes the ability to draw connections between ideas, questioning assumptions and the status quo, understanding a problem before trying to solve it, systematic experimentation, the ability to network and broaden a set of relationships. For innovation, discovery must come before delivery.

These skills can be learned through a combination of guidance, practice, and experience.

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The PEP model of successful entrepreneurs and innovators

  • P - assion: Successful innovators are passionate about the problem they are trying to solve and will share the passion with everyone.
  • E - xperience: Innovators have experience with the problem they are solving, yielding valuable insight and knowledge.
  • P - ersistence: Growing a business takes persistence. It takes someone willing to push uphill to make it happen.

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Innovation now and in the future

Uncertainty and change can create opportunity and a need for innovation.

The pandemic has revealed many problems that are ripe for innovative solutions. Practices that were until recently on the fringe of acceptance are now accepted by mainstream society, such as telehealth, food delivery, e-sports, and online education.

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SIMILAR ARTICLES & IDEAS:

Context trumps technology

Context trumps technology
  • When it comes to youth-led social innovation, how much a project is tech dependent is usually related to where the innovator comes from (many communities around the world have little or no acc...

Youth and the access quality education

  • The most critical topic for young innovators are quality education (42%) and decent work and economic growth (38%).
  • The cause of these concerns: 20-year-olds are transitioning from school to work, and are facing challenges and inequalities in these areas.

Inspired by local problems

Regional issues act as important motivations for young innovators when they decide to work on a specific project. These issues are usually as urgent as global ones, but get less funding in general.

They can lead young innovators to come up with highly localised, impactful solutions.

Tesla’s innovation strategy

Tesla’s innovation strategy offers lasting lessons for any innovator, especially in terms of

  • how to win support for an idea and
  • how to bring new technologies to th...

Innovation Capital

There are four factors how innovators build up their innovation capital: Who you are, who you know, what you have done, your ability to draw attention to your ideas. Most notably, innovation capital is something accumulated over time through thoughtful action.

The Cybertruck is then about getting attention and proving that Tesla is one of the world's most innovative companies, specifically for the purpose of building Tesla's ability to win support from stakeholders.

Winning the resources

Elon Musk is a master of building and using innovation capital to win support for his ideas. To gain support:

  • He leverages his past success at PayPal and Space X
  • He uses "impression amplifiers". He does more than talk about the new idea. He puts it into physical form to convince skeptics.
  • He broadcasts the idea through big media launches to generate a buzz.
  • He compares or draws a comparison between his innovation and some other successful one to create an impression of technical superiority.

one more idea

The Shifting Work Market

Becoming a skilled professional used to be a matter of learning what the professionals did, how and why they did it, and some general facts that somewhat described our societies and ourselves.

The Future Of Education

As climate change, population growth and technological development bring fast and drastic changes to our world, educational programs that encourage discovery and innovation become ever more necessary.

These programs teach that discovering brings not just good grades, or a financial reward. It brings the satisfaction that one can realize dreams, and thrive, in a world framed by major dramatic questions.