Tag Archives: innovation

Savvy Saturday March 25, 2017

If you always do what you‘ve always done, you will always get what you‘ve always got.

(Quote attributed to H Ford, Einstein etc.)

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Savvy Saturday February 25, 2017

“people who create, craft and love their art tend to focus on these seemingly bad ideas nurturing them into something brilliant. The innovators or the troublemakers who question the status quo may end up making something so remarkable that it creates a movement, a tribe, a following …and major business.”

 

From Esther Clark’s article “Seemingly Bad Ideas” published April 2016.

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Failure…yet again

Earlier this year I opened an article with an interpretation of a line from Arthur Ransome’s book Swallows and Amazons: “Better dead than duffers.” I have studied the cult of failure as part of my consulting practice and to help my clients understand how and if “fail fast, fail often” makes for a higher overall result.

I have spent the last week on vacation and continue to see this topic pop up in business articles, TED talks, presentation and discussions within my social networks. If you have the opportunity, pick up the December issue of Harvard Business Review where research around the “80% of companies that existed before 1980 are no longer around” idea is well diagnosed and ties into the discussion of creative destruction and “fail fast fail often”.

The purpose of this post today is a short reminder that mistakes are the “necessary evil” (as PIXAR’s Ed Catmull says) of companies who innovate, transform and disrupt. The evil or pain from the failure becomes less when value is extracted from the experience. Think about it.

Do you remember having skinned knees as a child while trying to ride your bike or learn to rollerskate? Did the pain lessen when you first took the freeing ride on your own?

Failure in business is exactly like that. If you extract maximum value from failure than although you might not have “failed fast” or don’t want to “fail often” you will have maximized the overall result of the project or the innovation bringing benefits to your organization.

All the best in 2017! May this coming year be filled with health, wealth and happiness.

-EMC

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Visual Business Inspiration

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“People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done. Innovation is saying no to 1,000 things.” – Steve Jobs

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An end is a new beginning

“What feels like the end is often the beginning” or “one door closes, another door opens” are useful phrases to think about when a project meets its natural, or unnatural, conclusion.

With international projects, these phrases are particularly relevant. Often times we are met by closed doors on the path to success. It does not mean that the project is done but that it might need to be re-envisioned or changes in someway.

Life is dynamic. Business is always changing. So should our projects. A closed door or “end” is just an invitation to a new beginning.

-EMC

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Growth Mindset: Moving Towards Drucker’s Entrepreneurial Society

Entrepreneurship in the Spanish language is most commonly translated as “emprendimiento” coming from the verb “emprender” which means to ignite or start something. For many generations, entrepreneurs in Latin America have started their own businesses for d4e051b46efa7280a957f01bfb5aeecf1.jpgiverse reasons including, as the management thinker Peter Drucker pointed out, a response to a social problem disguised as a business opportunity. A glimpse at the “Rey del Banano” (King of the Banana) rags-to-riches story in Ecuador supports Drucker’s claim; born into poverty, Luis Noboa Naranjo launched the successful Bonita Banana Company after piecing together profits made from sales of newspapers and household items. Noboa later established the Noboa business group; at one time, his business venture was credited for generating 5% of the Ecuador´s Gross Domestic Product.

Nevertheless, an entrepreneurial venture or entrepreneurial economy does not an entrepreneurial society make. It requires something more: not just “igniting” entrepreneurial fires but having the mindset to ensure that the entrepreneurial flame will not die. An entrepreneurial society requires a “growth mindset” – an idea developed over a decade ago by Stanford University psychologist Carol Dweck to explain achievement and success. Dweck compares and contrasts “fixed mindsets” and “growth mindsets”; she concludes that if we focus on learning and improvement as a consistent goal, environment, and the country we are born in, economic realities, as well as adversity or failure, can become powerful impetuses to ensure we grow and overcome pre-conceived limitations to achieving success.

Harkening to the 2016 Olympics currently underway in Rio de Janeiro, an athlete with a “growth mindset” pushes through in order to grow as an individual, an athlete and a citizen representing a nation. They see their failures as a call to further action and continuous training; in other words as a “not yet” rather than a “not ever.” There are clear parallels in athletic training to Drucker’s own words describing an entrepreneurial society where “innovation and entrepreneurship are normal, steady, and continuous.”

For an entrepreneurial society to prosper, members need growth mindsets to consistently keep the entrepreneurial flame alive and support those willing to push the limits of an “employee” society in order to find solutions to the world’s problems. Peter Drucker saw entrepreneurship and entrepreneurial culture as the lifeblood of society (Innovation and Entrepreneurship: 1985). He heralded a new era that would see a shift from an employee society towards an entrepreneurial society. In Latin America, where I live and work, “emprendedores” are igniting entrepreneurial fires with creativity, innovation and problem solving skills; yet the region – like many other major trading areas in the world – continues to call for a growth mindset from members of society that would lead us through economic and political instability and clear past the “same-old” power dynamics.

Global discussions around “entrepreneurial society” must be inclusive with ideas from developing as well as developed countries, public and private counterparts, local and international companies, thinkers and managers, students and teachers, entrepreneurs and intrapreneurs, CEOs and investors. If an entrepreneurial society is to flourish, we need a “mindset” of constant learning and growth supported by connections across real and psychological boundaries. In every corner of the globe, adopting a growth mindset together with learnings from larger discussions of entrepreneurship and transformation, will help us move to a society of creators, co-creators and organizations that respond ethically, empathetically and effectively to the societies we serve.

-EMC

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Savvy Saturday August 6th, 2016

The worst place to develop a new business model is from within your existing business model. – Clayton Christensen

www.pinterest.com

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Savvy Saturday July 23rd, 2016

You have the potential to make beautiful things. – EMC

 

 

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Ecuador 3.0

I have spent the last ten years in Ecuador. I though it was about time to start highlighting some of the beautiful discoveries I have made in these years living and working in Ecuador. I’m calling this series Ecuador 3.0 to reflect the Marketing 3.0 idea created by Kotler – that brands need to connect, engage and live in tandem with the wants/needs/desires/values of customer. Ecuador 3.0 is born!

I thought I would start this series with something strikingly simple…water. Guitig natural sparkling water is an amazing product. Their story here. Their official website here.

Guitig recently paired up with some talented local designers to create unique bottle designs. More info here (in Spanish).

Drink it in!

– EMC

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