Killer Innovations with Phil McKinney

I've been reflecting a lot lately about common thinking mistakes. Yes, you heard me right. It's a bit of a mind-bender. But trust me, this is going to be worth your while. We all have unique ways of perceiving the world. Sometimes, however, these perspectives can lead us astray. We may fall victim to thinking mistakes that impede our growth and success. Today, I want to unveil the six most common thinking mistakes that hinder people's progress. Removing these pitfalls can enhance your decision-making, communication skills, and overall mindset. “Every day, the human mind travels enough mental miles to circle the globe twice, yet often finds itself stuck in the same spot.” And let me assure you, I'm speaking from personal experience here. I used to make these thinking mistakes all the time, but once I became aware of them, I overcame them and achieved greater success in my personal and professional life. So, as we explore these common thinking mistakes, remember, it's not about striving for perfection or avoiding them altogether. It's about recognizing and learning from them to refine our thinking and unleash our full potential continuously. 1. Confirmation Bias Ever catch yourself solely paying attention to information that confirms what you already believe? That's confirmation bias in action. It's like attending a concert and only hearing the songs you already know and love. The unfamiliar tunes? They fade into the background. In innovation, this manifests as a reluctance to consider new ideas or information that challenges our existing beliefs. Some may label this as “Not Invented Here” (NIH). But here's the kicker: innovation thrives on diversity of thought and challenging the status quo. So, I challenge you to actively seek diverse perspectives and be receptive to changing your mind. 2. Overgeneralization This occurs when we extrapolate one or two instances to an entire category. Have you ever had a negative experience with a particular type of food and then sworn it off for life? That's overgeneralization. The same applies when you hear about an idea that failed for someone else and automatically assume it won't work for you, either. Such thinking can constrain our potential and inhibit us from exploring new opportunities. To avoid this mistake: Remember, one instance does not define an entire category. 3. Catastrophizing Catastrophizing involves envisioning the worst possible outcome of an event. It's like hearing a riff in a song you dislike and suddenly predicting the band's inevitable downfall. But here's the reality: catastrophes rarely materialize. And even if they do, we often possess greater resilience and capacity to handle them than we give ourselves credit for. Don't let the fear of failure deter you from taking risks and exploring new avenues. To avoid this mistake, Endeavor must maintain perspective. A single sour note doesn't ruin the entire composition. 4. Emotional Reasoning This transpires when we allow our emotions to shape our interpretation of reality. It's akin to letting a lousy mood dampen your enjoyment of an excellent rock concert. Innovation may entail dismissing ideas because they don't “feel” right or align with our current emotions. However, feelings do not equate to facts. Don't allow emotions to cloud your judgment. Instead, objectively analyze the idea and assess its potential regardless of your feelings. To avoid this mistake, Differentiate between emotions and facts. Just because you're not in the mood for rock doesn't imply the band is performing poorly. 5. Black-and-White Thinking This occurs when we perceive situations as either one way or another, devoid of any middle ground. It's akin to categorizing a song as a hit or a flop, with no room for nuances. Innovation may entail dismissing ideas because they don't conform to preconceived notions of success. However, success seldom adheres to black-and-white parameters. It's nuanced, with numerous shades in between. Embrace the complexities and be receptive to unconventional ideas. To avoid this mistake, Embrace the nuances. Not every melody can top the charts, and that's perfectly acceptable. 6. Thinking Traps These are ingrained patterns of thinking that we inadvertently fall into. They may include jumping to conclusions, making unfounded assumptions, and disregarding contradictory evidence. Critical thinking and recognizing when we're ensnared in these traps are necessities for innovation. Therefore, step back, pause, and objectively evaluate the situation before concluding. To avoid this mistake, Be mindful of your thinking patterns and proactively challenge them. Again, the list of the six common thinking mistakes are: Confirmation Bias Overgeneralization Catastrophizing Emotional Reasoning Black-and-White Thinking Thinking Traps Why Does The Human Mind Make These Mistakes? You may be wondering why our minds succumb to these mistakes. Our brains wire themselves to take shortcuts and simplify complex information. While this may have served us well in the past for survival, it can impede us in critical thinking and making sound decisions. However, acknowledging these common thinking mistakes and actively striving to overcome them can retrain our brains to think more critically and efficiently. So, the next time you catch yourself falling into one of these traps, view it as an opportunity for growth and development. Keep challenging your thinking, and don't shy away from stepping outside your comfort zone. The outcomes might pleasantly surprise you. Conclusion Remember, life isn't a scripted performance. It's a live show with improvisations, unexpected solos, and occasional off-key notes. Embrace the complexity, the uncertainty, the beauty of it all. As the great Bob Dylan once said, “Behind every beautiful thing, there's some kind of pain.” The trick is not to avoid the pain but to find its beauty. And that, my friends, starts with the way we think. So, let's tune our minds to the right frequency, shall we? Let's make our thinking as rich, diverse, and harmonious as the music we love. Rock on, folks!   To learn more about common thinking mistakes, listen to this week's show: 6 Most Common Thinking Mistakes Holding You Back. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

In a world brimming with information and endless arguments, developing the art of critical thinking is not just advantageous—it's a necessity. By the end of this episode, you will wield a powerful toolkit that unlocks a new level of understanding and problem-solving capability, transforming how you approach challenges, debates, and decisions. Elevating your critical thinking skills enhances influence and reveals how to see beyond the surface of presented information. What is Critical Thinking? Critical thinking, one of the most crucial competencies, embodies deep analysis, evaluation, and synthesis of information, approached with skepticism and logical reasoning. Hone this skill to peer beneath the apparent layer of information, entertain various viewpoints, and arrive at decisions grounded in rationality. You cut through the noise and complexity by honing critical thinking, leading to more precise judgment and better outcomes. Loss of Critical Thinking Skills In today's fast-paced, digital-first society, the loss of robust critical thinking skills is vividly apparent, especially in social media's wildfire spread of information without scrutiny. People often accept headlines without considering sources or underlying biases. This trend extends to the polarization of political discourse, where alignment with ideas frequently precedes reasoned analysis. Convenience-driven algorithms create echo chambers, reinforcing beliefs and opinions. This lack of critical engagement impoverishes personal growth understanding and undermines the fabric of an informed democracy. How To Improve Your Critical Thinking Improving critical thinking isn't daunting. Approach new information cautiously, evaluating the credibility of sources and validity of arguments. Actively seek context evidence and cross-reference information from multiple sources. Be open to different perspectives and ask constructive questions, cultivating a balanced and cautious approach. Be Cautious Always approach new information with a cautious eye. In today's digital age, information is constantly at our fingertips, but not all is reliable. Taking the time to assess information critically and not accepting it at face value is a crucial first step toward improving your critical thinking skills. Steps to Approach Information with Caution: Identify the Source: Always take a moment to look up the source of the information. Reputable sources tend to have a history of reliability and accuracy. Understand the Context: Context matters. Seek it actively. Why was this information created? What is happening in the world that relates to it? Check for Evidence: Look for the data or evidence supporting the claims. Research or data typically backs up reliable information. Cross-Reference: Verify the information by consulting multiple sources. If multiple credible sources convey the same message, it adds to the credibility of the information. Be Open to Different Perspectives: Exposing yourself to various viewpoints can provide a fuller picture and help you evaluate the information more effectively. Ask Constructive Questions: Instead of dismissing new information outright, ask questions that probe deeper into its validity and relevance. Following these steps, you can cultivate a balanced and cautious approach to handling new information without descending into skepticism or negativity. Question Assumptions Question assumptions to recognize and challenge biases. This ongoing process is essential for developing robust critical thinking skills. Steps to Question Assumptions Identify Your Beliefs: Your beliefs or assumptions about a specific topic or situation. It's important to articulate these to yourself to know exactly what you are questioning. Trace the Origin: Once you've pinpointed your beliefs, try to trace their origins. Ask yourself, where did these beliefs come from? Were personal experiences, education, societal norms, or perhaps media influenced them? Challenge Your Beliefs: Actively challenge your beliefs by asking critical questions such as, “What evidence do I have to support this belief?” and “Could I be wrong?”. Consider the opposite viewpoint and what evidence there is to support that perspective. Seek Out Contrary Evidence: Look for information, data, or perspectives contradicting your beliefs. This will help you to see the topic from different angles and provide a more rounded understanding. Engage in Critical Discussion: Discussing your beliefs with others, especially those with different views, can provide valuable insights and challenge you to think critically about your assumptions. Be open to changing your mind based on new information or perspectives. Reflect Regularly: Regular reflection on your beliefs and assumptions is crucial. Acknowledge when your beliefs have changed due to new evidence or insights, and adapt your perspective accordingly. This ongoing process is essential for developing strong critical thinking skills. By following these steps, you can effectively question your assumptions, broadening your understanding and enhancing your ability to think critically about the world. Applying Logic Practice reasoning through logic by breaking down complex problems, identifying premises, developing a logical structure, evaluating arguments, and drawing well-reasoned conclusions. Steps to Applying Logic Break Down the Problem: Start by dividing the issue into smaller, more manageable parts. This simplification allows you to tackle each component one at a time, making the overall problem less overwhelming. Identify the Premises: Determine the underlying premises or assumptions. Your logical reasoning will build upon these foundational statements or facts. It's crucial to ensure these are accurate and relevant. Develop a Logical Structure: Arrange your premises so they lead logically to a conclusion. This step may involve creating a series of if-then statements or mapping the relationships between premises. Evaluate the Arguments: Critically assess the validity of your logical structure. Check for common logical fallacies or errors in reasoning that could undermine your conclusion. This might include checking for oversimplifications, false dichotomies, or unproven assumptions. Draw a Conclusion: After a thorough evaluation, draw a conclusion based on your established logical sequence. Ensure that the conclusion directly follows from the premises. If the conclusion does not follow naturally, you may need to revisit the earlier steps to adjust your reasoning. Avoid Logical Fallacies Recognize and avoid logical fallacies, strengthening critical thinking skills. Steps to Avoiding Logical Fallacies Educate Yourself: Familiarize yourself with common logical fallacies and how they manifest in arguments. Some of the most common include ad hominem, straw man, slippery slope, and false dilemma. Consider Alternative Explanations: When faced with a persuasive argument, consider alternative explanations for the evidence presented. This will help you to avoid accepting an opinion simply because it seems convincing on the surface. Examine the Evidence: Pay close attention to the evidence presented in an argument and evaluate its validity. Look for any bias or manipulation of information that could skew the argument's logic. Stay Focused: Getting sidetracked during a debate or argument is easy, but staying focused on the topic is essential. Avoid making personal attacks or introducing irrelevant information. Be Open to Change: Be willing to change your mind if presented with new evidence or a stronger argument. This shows intellectual humility and a commitment to seeking truth rather than defending your beliefs. Practice, Practice, Practice: The more you engage in critical thinking and argumentation, the better you will spot logical fallacies and avoid them in your own reasoning. So, keep practicing and challenging yourself to think critically in all aspects of life. Asking Good Questions Ask open-ended questions, start with “why,” use different question types, listen actively, and practice curiosity. Asking good questions is a powerful tool for critical thinkers. Steps for developing good questioning skills: Start with the Why: Asking “why” questions can help you to understand the reasoning behind someone's beliefs or actions. Use Different Question Types: Several questions can serve different purposes, such as probing for more information, clarifying a point, or challenging assumptions. Use a variety of question types to get a comprehensive understanding of an issue. Listen Actively: Listening is just as critical as asking good questions. Pay attention to the answers and ask for clarification if needed. Don't Be Afraid to Dig Deeper: Feel free to continue asking questions until you achieve a satisfactory level of understanding if you sense there is more to uncover. Be Respectful: Remember to ask questions respectfully and without judgment. This will foster open and honest dialogue, leading to deeper insights and understanding. Practice Curiosity: Cultivate a curious mindset and be open to exploring new ideas and perspectives through questioning. Improving Critical Thinking Skills: A Journey Improving critical thinking is a journey requiring practice, patience, and perseverance. Maintain a clear and authoritative tone, letting logical reasoning and thoughtful questioning speak for themselves. Practice Exercise: Engage in a Debate Hone critical thinking skills through a structured debate. Here are the steps you can go about it: Select a Topic: Choose an interesting and potentially contentious topic for both of you. This could range from discussions on social issues, scientific debates, ethical dilemmas, or even preferences in movies or art. Assign Positions: Flip a coin to decide who will argue in favor and against the topic. This randomness ensures that you might have to discuss a position you don't personally hold, which is excellent for developing your skills of being open to hearing other positions. Prepare Your Arguments: Each person researches the topic and prepares their arguments. Remember to look for credible sources and anticipate counterarguments you might face. Engage in the Debate: Set a specific time and place for the debate—lay ground rules for respectful engagement and time limits for each argument. Then, present your arguments and listen to each other's points, rebutting as necessary. Record the Debate: If possible, record the debate. This isn't for sharing but for personal review. Listening to the recording can help you identify areas of strength in your argumentation and tendencies toward any logical fallacies. Reflect and Discuss: After the debate, take some time to discuss with your friend what you each learned from the experience. Reflect on the arguments' strengths and how you might improve in future discussions. Switch Sides: For an added challenge, you can switch sides and argue from the opposite perspective. This exercise can broaden your understanding of the issue and improve your critical thinking skills. Conclusion With practice, become a strong and persuasive critical thinker, confidently navigating problems. The rewards of improved critical thinking—better decisions, effective problem-solving, and easy navigating of modern life—are well worth the effort. Apply these tips daily: keep questioning, analyzing, evaluating, and never stop learning! The impact on your personal and professional life will be profound, turning you into a discerning consumer of information, an effective problem solver, and a thoughtful communicator. Inspire others to become critical thinkers, too!   To learn more about improving your critical thinking, listen to this week's show: How To Improve Your Critical Thinking Skills. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Envision a world on the precipice of a profound transformation, driven by seven unprecedented innovations, poised to revolutionize every aspect of society. This shift, approaching a technological singularity, carries immense responsibility and high stakes for current and future generations. Our technological prowess is unrivaled. From the simplest inventions to the most complex machines, we have continually pushed the limits of what is possible. But as our capabilities grow exponentially, a looming question arises: are we heading towards a technological singularity that could change the course of humanity? The concept of technological singularity has moved beyond the fringes of futurism; it is now an imminent possibility. Defined as the hypothetical future point when technologies have become so advanced that humanity undergoes a dramatic and irreversible change, the singularity presents an inescapable, exhilarating, and terrifying problem for philosophers, scientists, and every human being. Are we prepared for the implications, the ramifications, and the profound changes that a tech-driven future might bring? My objective is not an attempt to provide answers. Instead, to provoke thought and conversation about what I see as seven unprecedented innovations that could lead towards a technological singularity. Understanding Technological Singularity The concept of technological singularity is not a new one. In 1958, mathematician Stanislaw Ulam coined the term, and in the 1990s, science fiction writer Vernor Vinge popularized it. It postulates an “intelligence explosion” moment when machines surpass human intellect, leading to unforeseeable changes in civilization. At its core, the technological singularity represents more than just the possibility of creating machines that think. It symbolizes a pivotal moment in human history where our inventions could autonomously innovate, replicate, and even make decisions that impact global economics, ethics, and governance. Imagine a future where AI systems design better AI systems, a cycle that accelerates innovation at a pace humans can neither anticipate nor control. Such a scenario isn't just about machines taking over mundane tasks but about them driving forward civilization's progress in areas like medicine and space exploration. This notion, once confined to the realm of science fiction, edges closer to reality with each generation of Moore's law. The question we must ask ourselves isn't just “Can we create super-intelligent AI?” but “Should we?” What safeguards must we implement to ensure that this leap in our evolutionary trajectory doesn't start the collapse of society? How do we maintain the essence of our humanity in a world where our creations might outthink, outlive, and outperform us? These are not questions of technology alone but of philosophy, ethics, and survival. Intersection of Humanity, Philosophy, and Innovation At the heart of technological singularity are questions that have plagued the minds of philosophers for centuries. What does it mean to be human? What role does consciousness play in our existence? Are we simply complex machines ourselves? The singularity, with its promise of immortality, limitless knowledge, and superhuman abilities, challenges the very core of human philosophy. It threatens to redefine our notions of mortality, individuality, and spirituality. It beckons humanity to contemplate its place not only in the universe but in a world it has redefined through innovation. As we strive to push the boundaries of what is possible, we must also grapple with the responsibility that comes with such immense power. But the most pressing question is whether our current philosophies and belief systems can handle a world where technology has surpassed our capabilities. Will our ethical frameworks evolve to keep up with these advancements, or will they become obsolete, leaving humanity in a moral crisis? Unprecedented Innovation Current trends in technology suggest we are hurtling toward this critical milestone. Each year, we witness the release of advancements that not only widen our capabilities but also seem to skirt the fringes of the sci-fi domain. Programs are learning to beat us at our games, to simulate emotions, and potentially — to feel them. We are not talking about Buck Roger's science fiction. We are talking about the near future, where we will have to reckon with the impact on humanity within our lifetime. The potential consequences are vast, from economic displacement to the loss of autonomy. But the possibilities are equally extraordinary — a future where we can solve complex problems, eradicate diseases, and explore new frontiers. The seven unprecedented innovations I would put forward as accelerating the singularity include: Quantum Computing: Beyond the realm of classical computing, quantum computers leverage the principles of quantum mechanics to process information at speeds inconceivable to traditional machines. This leap could revolutionize encryption, drug discovery, and even AI's learning capabilities, potentially solving complex problems beyond our reach. Brain-Computer Interfaces (BCIs): Merging the human brain with computers offers the promise of telepathy-like communication, enhanced cognitive abilities, and the restoration of sensory and motor functions. This technology blurs the lines between human intelligence and artificial augmentation, challenging our concepts of identity and autonomy. Gene Editing (CRISPR-Cas9): CRISPR-Cas9 has ushered in a new era of genetic engineering, with the potential to edit genes with unprecedented precision. This innovation could eradicate hereditary diseases, produce new food sources, and even extend human lifespans, posing ethical questions about the nature of evolution and the limits of human enhancement. Autonomous Vehicles and Drones: Once a staple of sci-fi narratives, autonomous technology is rapidly becoming a reality. Self-driving cars and delivery drones are set to redefine mobility, logistics, and urban landscapes, offering increased efficiency but also triggering concerns about job displacement, safety, and privacy. AI and Machine Learning Algorithms: Artificial intelligence, powered by increasingly sophisticated algorithms, transforms industries, from healthcare with predictive diagnostics to finance with automated trading. Yet, as AI systems outperform human capabilities, we must confront the potential for dependency, bias proliferation, and the erosion of privacy. Space Tourism and Colonization: Several companies aim to make space travel and habitation possible for civilians, igniting dreams of Mars colonies and space exploration. This frontier-pushing endeavor highlights human ingenuity but also raises questions about resource allocation, environmental impacts, and the implications of extraterrestrial human presence. Fusion Energy: Mimicking the sun's power generation, fusion energy promises a clean, almost limitless power source. By achieving a controlled fusion reaction, we could dramatically reduce our reliance on fossil fuels and power future generations. However, the technical and ethical challenges in harnessing and distributing this power remain daunting. While some herald these innovations as the next step in human evolution, others caution against the naivety of creators playing the role of gods. They warn of a world where humanity has ceded control to machines, where the calculations of silicon minds determine our fate with no empathy. Humanity's Role in Shaping the Future What responsibility do we hold as the creators of these advancements? What moral code should guide our actions as we strive to outthink, outlive, and outperform ourselves? Our role is of the utmost importance. The path to singularity does not have a predetermined destiny. Our collective choices and actions shape it. It requires us to engage with deliberation and humility to contextualize innovation within our shared values and beliefs. Personal Stance The potential for singularity to enhance human life is as great as its potential to diminish. In the face of looming change, our greatest strength lies not in our silicon gadgets but in our uniquely human qualities — our capacity for empathy, creativity, and moral reasoning. Therefore, as we continue on this path of unprecedented innovation, let us not forget what it means to be human. The balance of humanity in this uncertain future lies in our collective hands, and our decisions now will reverberate for generations to come. Conclusion Instead of calling to halt progress or stifle innovation, this is a call to temper the zeal of the creators with the wisdom of the sages. We must proactively establish safeguards against our creations' unforeseen consequences. The technological singularity is not a singular event at all. It is a continuum that begins today, with every line of code we write, every innovation we build, and every decision we make that inches us closer to — or further from — the potential future we envision. The age of singularity is upon us, and we must shape it with care, consideration, and humanity.   To learn more about accelerating technological singularity, listen to this week's show: 7 Innovations Accelerating The Technological Singularity. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Navigating the intricate realm of innovation is akin to sailing without a map, a challenging endeavor. That's where the invaluable role of an innovation mentor comes into play, acting as a guiding force. Picture them as friends always armed with the best advice, guiding you through launching your venture, shaking things up at work, or bringing your ideas to life. They serve as a reliable beacon, lighting the way and steering you through rough waters. The Role of an Innovation Mentor Discovering a mentor to navigate the innovation maze isn't merely about hiring an expert or a quick-fix coach. An innovation mentor is your adept ally in the professional world, brimming with experience and a genuine desire to elevate your innovative spirit. Beyond dictating actions, they're committed to the long haul, offering support and sharing insights to help you think creatively and turn ideas into reality. What does having an innovation mentor mean? It's like teaming up with a seasoned companion who's been through innovation's challenges. They provide wisdom from their own experiences, offering guidance, cheering you through hurdles, and encouraging different ways of thinking. An innovation mentor doesn't just offer advice; they foster a connection and actively contribute to your growth. It's more than a transaction; it's about building a connection, growing together, and achieving success as a team. Complexity of Mentor Matching Finding the right innovation mentor is akin to searching for a vintage gem in a thrift store—it requires sorting through a myriad, and outcomes can be hit or miss. Amidst the proliferation of fancy titles on LinkedIn, spotting a genuine mentor becomes challenging. The key is to sift through the noise and identify someone who genuinely stands out, connects with your values, and is as invested in your success as you are. How do you know if a mentor is the key to your success or just another calendar entry? The answer lies in investing time to talk with potential mentors, relying on intuition. Impressive backgrounds and recommendations can sometimes be misleading; the best fit often surprises you—the individual whose values align with yours. Personal Experience With Mentors and Mentees Drawing from over 40 years of experience with my mentor, Bob Davis, it's evident that mentorship goes beyond transactions. It's a merging of shared values, mutual respect, and a commitment to learning. Commitment, honest communication, and mutual time investment are crucial for a rewarding experience when mentoring others. The connections formed and the growth of mentees continue to motivate me to be the best mentor. Mentees with innovation mentors are more likely to become mentors themselves, creating a cycle that not only enriches their personal growth but also perpetuates a culture of learning and mentorship. It’s a ripple effect that transforms the professional landscape—yet, astonishingly, less than one-third of professionals seek mentorship. Before hitting the search button for a mentor, reflect on why you are seeking one and what you hope to gain. It's about more than opening doors; it's finding a genuine connection and partnership to navigate innovation challenges successfully. Qualities of an Innovation Mentor A remarkable innovation mentor is more than a sideline cheerleader or someone who tells you what you want to hear. They're akin to a coach deeply involved in the game. They challenge your ideas, bring experience, root for your success, and ensure you stay on the right path. The eight qualities you should look for in an innovation mentor are: Visionary Insight: The best mentors possess a keen foresight that sees beyond current trends and anticipates future shifts. Like a seasoned chess player, they guide mentees through moves that position them for long-term success. Empathy and Understanding: They deeply understand the mentee's journey and can relate to their experiences. This empathy establishes trust and a safe space for open dialogue and vulnerability. Adaptability: Innovation is synonymous with change; a top-notch mentor navigates these waters with poise. They adapt their guidance to suit the mentee's evolving needs rather than sticking to rigid doctrines. Unwavering Commitment: They are consistently available and invested in the mentee's growth, providing support through thick and thin. Their commitment is a stabilizing force amidst the chaos of innovation. Skilled Communication: The ability to articulate complex ideas simply and to listen actively is paramount. They challenge mentees with questions that spark reflection and creative thinking. Resilience in Failure: Mentors should celebrate successes and provide a resilient frame for overcoming setbacks. They teach that failure is not a setback but a necessary step toward innovation. Ethical Integrity: They exemplify the highest standards of ethics as individuals and professionals, serving as role models for ethical decision-making in a challenging business landscape. Network Savviness: An effective mentor brings a wealth of connections and understands the power of networking. They help mentees access crucial resources and opportunities that might otherwise be out of reach. Benefits of Mentorship A robust innovation mentorship goes beyond offering tips—it transforms your perspective, opening new paths. Here are some of the benefits that strong innovation mentorship can yield: Enhanced Problem-Solving Skills: Mentorship elevates your ability to tackle complex problems by fostering critical thinking. Mentees develop sophisticated strategies to face challenges by observing and discussing approaches with a mentor experienced in innovative problem-solving. Accelerated Professional Development: A mentor's guidance can fast-track a mentee's career progression by identifying and honing key skills essential for advancement, often leading to opportunities that may have taken years to materialize organically. Expanded Professional Network: Mentors often introduce their mentees to a vast network of industry professionals, providing connections and the social capital necessary to thrive in competitive environments. Increased Confidence: With a mentor's support, mentees are encouraged to step outside their comfort zones, leading to a significant boost in self-assurance, which is crucial when asserting ideas and taking on leadership roles. Heightened Innovation and Creativity: Exposure to a mentor's creative process and innovative thinking spurs mentees to explore new ideas and approaches, fostering innovation within themselves and their teams. Better Risk Management: Learning from a mentor's past experiences helps mentees navigate risks and understand the nuances of risk-taking, which is essential for innovation. Sustained Learning and Growth: Mentorship instills a continuous learning mindset, ensuring that the quest for knowledge and improvement doesn't end with formal education but becomes a lifelong journey. Holistic Personal Development: A good mentor understands the importance of balance and can guide mentees in areas beyond professional life, contributing to their overall well-being and personal fulfillment. So, are you making a splash, or is it time to toss that pebble in the pond? Your mentor's influence has the potential to shape those ripples—choose wisely. The Investment in Innovation Mentorship Selecting a mentor is a significant decision akin to choosing a guru, your Yoda. They are the ones you'll turn to when your career hits turbulence, equipped with the map to guide you through it. However, it's not a one-time arrangement; you must be ready to introspect, invest effort, and face challenges. Mentorship is your shortcut to accelerated growth, providing skills for long-term success. Mentorship is not just about receiving facts; it's about acquiring skills that empower you to thrive in the long run. The mentorship magic lies in imparting skills, not just facts. So, are you ready to dive into the mentorship pool? Choose wisely, put in the effort, and reap the benefits of a robust innovation mentor-mentee relationship. To learn more about finding an innovation mentor, listen to this week's show: The Art of Selecting an Innovation Mentor. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Embarking on becoming an innovation consultant is an adventure fraught with challenges and opportunities. The question that often arises is: What kind of experience does diving into the depths of innovation consulting require? Breaking into this highly competitive field necessitates a blend of academic knowledge and real-world practice. Still, the pathway is less about a set timeframe and the rich experiences gained, opening the door to innovation. The Power of Apprenticeship: Learning by Doing Consider the apprenticeship — the age-old tradition of learning by doing —the key to unlocking latent potential. Aligning with a mentor, someone whose accomplishments you respect and aspire to emulate, becomes vital. Through this alliance, the transfer of wisdom is not merely academic but vibrantly alive, fertilized by the flow of ideas born of actual projects and commercial undertakings. Years vs. Experience: Redefining Success in Innovation Is there a magic number of years required for mastery, or does the variety and depth of experience trump the span of time? What if success in innovation is not just about the ideas you conceive but also about your capacity to shepherd those ideas through the stages of development to execution? This pursuit of innovation is not for the faint-hearted. It's for those willing to be tenacious, invest time and effort, and repeatedly return to the forge of creation. So, are you ready to unlock the door? Real-world Experience: A Necessity, Not a Luxury Venturing into the startup arena is daunting, with roughly 90% failing within their first year. Strikingly, the restaurant industry shares a similar fate, where 60% do not celebrate their first anniversary. Combining these two volatile worlds, as Fisayo has done with Resactly, is a brave endeavor — a testament to her passion and tenacity. The Role of Internships and Apprenticeships Is two years the minimum requirement for mastery, or can internships and apprenticeships be tailored to individual needs? Not everyone can commit to a two-year apprenticeship, but real-world experience is crucial. Find someone you admire, someone who has the experience, and be part of all aspects of innovation, from ideation to execution. Unlock the Door to Innovation Consulting In conclusion, the journey to becoming an innovation consultant is personal. Whether through internships, apprenticeships, or hands-on experience, the key is to immerse yourself in the world of innovation. Acquiring the hard knocks of real-world experience is essential, and this practical knowledge sets you apart. Once you've gained this experience, you can confidently unlock the door to innovation and share your insights with the world. So, are you ready to take that first step? To learn more about unlocking the door to innovation, listen to this week's show: Unlocking the Door to Innovation. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

In the convergence of gastronomy and technology, Fisayo Oluwadiya stands at the forefront, embodying the fusion of engineering, culinary artistry, and entrepreneurship. This week, our conversation delves into her brainchild, Resactly, a pioneering AI-powered restaurant recommendation system that promises to reshape how we navigate the culinary landscape. A Palatable Blend of Passions Fisayo, an engineer, food writer, and entrepreneur, breaks the mold of a conventional techie. She ingeniously intertwines her love for coding and gastronomy, giving birth to Resactly, a web application poised to revolutionize how we experience and explore food. The synergy between these seemingly disparate worlds sparks a delectable journey into the future of dining. Resactly: A Gastronomy Navigator At its core, Resactly transcends the conventional boundaries of restaurant recommendations. It's a guide and a gastronomic companion, utilizing AI to tailor suggestions based on individual preferences and dietary requirements. Have you ever felt misled by subjective restaurant reviews? Resactly emerges as a beacon of objectivity, akin to a trusted friend who comprehends your palate intricately. The platform's innovation doesn't halt at recommendations; it seamlessly integrates with restaurants, ushering in a new era of culinary understanding. This elevated interaction between users and establishments signifies a monumental leap forward, surpassing the limitations of traditional methods and embracing a more nuanced, user-centric approach. The Journey from Idea to Culinary Innovation Venturing into the startup arena is daunting, with roughly 90% failing within their first year. Strikingly, the restaurant industry shares a similar fate, where 60% do not celebrate their first anniversary. Combining these two volatile worlds, as Fisayo has done with Resactly, is a brave endeavor—a testament to her passion and tenacity. Reflecting on Fisayo's journey from ideation to innovation, our conversation parallels my entrepreneurial ventures. I share my narrative of initiating 13 startups on credit cards, culminating in a triumphant IPO. The emphasis lies on the driving force of innovation – passion. It's the unwavering commitment that propels ideas into transformative realities. Navigating Entrepreneurial Challenges In the entrepreneurial arena, challenges are inevitable. For Resactly, securing funding emerged as a significant hurdle. Fisayo, however, candidly shares these realities, offering a transparent look into the highs and lows of entrepreneurship. This openness underscores the resilience required to navigate the unpredictable landscape of startup ventures. The Future of Gastronomy: A Glimpse In conclusion, our conversation serves as a captivating peek into the future of food technology. It illuminates the transformative role of AI in enhancing our dining experiences, emphasizing the indispensable role of passion in propelling innovation forward. Fisayo's call for early-stage tech exploration and user feedback is a poignant reminder that we all play a part in shaping this exciting future. As we embark on this gastronomic journey, let's actively contribute to Resactly's evolution. Join us in testing Resactly and be part of the culinary revolution. Visit www.resactly.com and indulge in the future of personalized dining experiences.   To learn more about the convergence of technology and food, listen to this week's show: Startup Stories: Resactly's AI Meets Gastronomy RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

In the ever-evolving realm of innovation, a troubling trend is emerging—the rise of self-proclaimed experts with credentials as insubstantial as the pages of the very innovation books they often quote. This prompts us to question whether an individual can genuinely be considered an expert in a multifaceted field based solely on theoretical knowledge or if authentic, hands-on experience is the true differentiator. This discussion inevitably leads us to scrutinize the credibility and legitimacy of those who dub themselves innovation consultants, especially the troubling rise of fake innovation consultants. Theory vs. Practice: Bridging the Divide Consider this staggering yet simple truth: the cost of ignoring experience in favor of theoretical expertise can be measured not just in failed businesses but in human lives. Consider the concept of expertise not as a trophy won through academic pursuits but rather as a medal forged in the fire of real-world experience. It's about being in the trenches, not just analyzing the battlefield from a safe distance. This disconnect between knowledge and practice is alarming, especially when the stakes involve steering companies toward innovation. The Glaring Gap: McKinsey's Settlement as a Cautionary Tale Reflect on the example of new MBAs from prestigious firms like McKinsey, armed with the latest business theories but lacking the scars of battle that only hands-on experience can provide. The gap between theory and practice becomes glaringly apparent, as well as illustrated by McKinsey's hefty settlement over their consulting practices linked to the opioid crisis, proof that theoretical expertise can lead to real-world consequences. Expertise in Innovation: A Surgical Precision Approach It is necessary to ask the hard-hitting question: would you trust a surgeon who has only learned their craft from textbooks and has never held a scalpel? The medical community unanimously dismisses such a scenario—shouldn't we apply the same rigorous experience standards to innovation? Innovation Through the Lens of Practical Wisdom As a consultant, I witnessed the profound impact of practical know-how. It shapes instincts, refines judgment, and brings a deep understanding of problem-solving that academia cannot replicate. To me, real-world experience is non-negotiable—it is the essence of expertise. Discerning Fake Innovation Consultants However, it's not all gloom, as authentic experts exist, those who can prove they've weathered the storm of innovation. These professionals bring invaluable insights and are worth the effort to find them. They've not just studied the map—they've journeyed the terrain and know the pitfalls and shortcuts. A study revealed that startups founded by those with relevant field experience were 350% more likely to grow and succeed than those led by purely academic trailblazers—a sobering reminder of what's at stake when we overlook the value of authentic experience. Therefore, when considering an innovation consultant, strive for genuine experience. Success in innovation is contingent upon the guidance of someone who has not merely witnessed the journey but has walked it, step by step, innovation by innovation. It's crucial to be led not by a theoretician with a polished resume but by a seasoned expert who has firsthand navigated the labyrinth of innovation. So, choose your innovation guide wisely—your innovation success depends on it. And beware of the pitfalls of relying on fake innovation consultants who may offer more rhetoric than substance. If you can’t see this video in your RSS reader or email, then click here.   To learn how to spot fake innovation consultants, listen to this week's show: Spotting Fake Innovation Consultants. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

Laws exist to keep some form of order or control such as the traffic laws we follow to avoid chaos as we drive around. There are a variety of laws that exist. Scientific laws are laws that we can test and prove, and we can reconfirm that the law still applies. An example would be the law of gravity that always exists. There are also other kinds of laws that we use in the context of business terms. In this case, those laws are observed and validated over extended periods of time. We can test them, predict from them, and see if those predictions are true. A perfect example of a law used in business is Moore's law, which states that the number of transistors on semiconductors will double about every 18 to 24 months. This law has been in place since the 60s and is continuously validated. In the realm of business, the adherence to laws governing innovation success is crucial for companies aiming to thrive and stay ahead in the dynamic market landscape. “Innovation is not just about birthing ideas; it's about breathing life into them. Astonishingly, only 1 in 3000 ideas actually get executed, making the journey from notebook to reality a true rarity.” There are some things that people mistake as laws that are actually rules of thumb. Rule of thumb is an anecdote that is based on personal experience or some lore that has been passed down. One of the most prevalent rules of thumb is the 8020 rule, which says that 20% of your actions generate 80% of the results. For example, 20% of your customers generate 80% of the revenue, or 20% of your trouble tickets generate 80% of your truck rolls. What is interesting, though, is that this rule has been proven to be not very sound. Rules of thumb are good to identify if there is a problem. It is an early test to see if there's something that you can narrow down to find a problem that you can work on, but a rule of thumb is not a law. Laws of Innovation The laws of innovation have been observed and validated for over 30 years by successful people. They are not a rule of thumb. These laws are proven and tested for effective innovation.  I will be specifically covering the seven laws of innovation. Law of Leadership The first law for successful innovation is the law of leadership. Good leadership is a foundational necessity. High-quality leaders prioritize innovation and show it through their actions. Leaders do not only fall in the executive leadership category such as the CEO or the owners of a business. Leaders include everybody from lower-level team leaders to organization leaders. For example, if you are a project manager, you don't have people reporting to you, but you've been put in charge of a project to deliver. Therefore, the law of leadership applies to you. If innovation is important to you and as important to your organization, you must demonstrate it. The team will follow you based on what you model to your organization. Law of Culture Law number two is the law of culture. A lot of organizations focus more heavily on their strategy. They are trying to come up with the perfect strategy to achieve success. But culture is foundational. What I mean by foundational is that it lays the bedrock that everything else in the organization builds upon. If you do not have a well-defined culture, that foundation is weak. Without the ability to drive a program of innovation inside any organization, your team is going to fail. Specifically, around a culture of innovation, there are certain elements that you need to have in that culture such as the willingness to take risks and not penalize people for it. If team members try something and fail, their failure can be used as a learning experience. We should never see failure as something negative when we can use it as a positive. If a trial-and-error culture is not strong in the workplace, people will not take risks, and without risks, there is no innovation. The law of culture is critical for innovation success. Law of Resources The third law of innovation is the law of resources. Innovation requires committed and consistent resourcing. Resourcing involves people, time, and money. All three are necessary for innovation to be successful. Most organizations do not dedicate or allocate resources to innovation. Organizations that want to achieve innovation success must have a consistent set of resources committed. How many organizations have a budget line with uncommitted dollars that are given away to teams and organizations where people can throw in their latest ideas? Most organizations do not have that. Challenges arise when new ideas are created, and not enough people are available to make that idea a reality. Another problems innovators face is the issue of funding. In the case of a lot of resources, projects go beyond the calendar year and the budget year you dedicate resources to. But what about every budget cycle? Do you have to revalidate every project? Do you have to go through and ask for money again to keep your project going? Or does this law of resources enable you to have committed resources for extended periods of time depending on how big and how complex the project is? The law of resources not only covers resources allocated to a project, but also ensures organizations stay committed to them so innovators are not tied to an arbitrary calendar of budget cycles. It is defined by what is appropriate for the project at hand. The law of resources is critical because if you do not have people, time, and money, the odds of you having innovation success are slim. Law of Patience The fourth law of innovation is the law of patience. Innovation takes time, more time than expected. The path to innovation is difficult and the outcome is hard to predict. It's important to keep in mind that uncertainty is a part of the innovation process. You may not know exactly what will happen or what your efforts will look like. It's crucial to be patient and have multiple projects in your innovation pipeline. You must also be prepared for the possibility of failure and experiments not working out as planned. Trials may not generate the expected results, but it's important to learn from them and keep moving forward. Patience by far is one of the hardest laws for executive leaders to get their heads around. Most executive leaders like predictability. They live by the quarter to see those results. Most executive leaders struggle with this law, which is a hindrance for organizations trying to achieve innovation success. Executives throughout the entire leadership organization down to individual employees need to have patience. In a lot of organizations, people become frustrated because they are not seeing progress fast enough. You must get used to the fact that no matter what you plan, odds are it's going to take longer than expected. Law of Process The fifth law of innovation is the law of process. It establishes a continuous innovation process. The key point is that it initiates and builds relation processes while using the fire framework focus ideation principles of ranking and execution as a structure in the process. It is important to continuously improve and remember innovation isn’t static. There are many consultants out there that will come to you with a list of ten magic steps for innovation and tell you to follow them for undisputed success. Reality is, there is no one-size-fits-all plan. Teams and organizations are unique with different projects and different team nomenclature. Processes behind the scenes are different for every organization. If you take an innovation process from somewhere, be willing to adapt it, change it, or tweak it in a way that works for your project experiment. You might uncover an entirely new activity in the process that succeeds. It is important to have a process established. Your team needs to train in it. They need to know how to use it and operate it. Additionally, you need to avoid rigidness so you can continuously innovate. If your established process isn’t working, how do you improve that innovation process? What experiment could you do? You could try something a little different than how you define the target area. You could change how you do your brainstorming or your ideation activities. Try a new way to rank your ideas to find the best solution out of the hundreds of ideas that you are going to generate. And then execute an experiment in different ways. And be willing to exercise it. If the process doesn’t work, change things around. You need to be flexible, you need to establish your process, and you need to continuously innovate around it. Law of BHAG The next law of innovation, the law of BHAG, defines the target and shows a clear finish line for your projects. BHAG or “Big Hairy Audacious Goal” is used because it catalyzes a team by giving a straight-forward goal to try to achieve. BHAGs are unbelievable motivators. When you look at and dissect teams that had high innovation impact, they consciously or unconsciously followed the principles of BHAG. A prevalent BHAG example is when, in the 60s, the president of the United States announced during a speech to Congress that before the end of the decade, we would put a man on the moon and return him safely. That was a big hairy audacious goal. They had no clue how to do it at the time. They had not worked out all the engineering. But the president defined a clear goal, and the United States successfully put a man on the moon and brought him home safely by using the components of BHAG. Organizations may have multiple BHAGs depending on what they are trying to achieve. This is why it is important to have a goal that everybody in the team understands, can communicate, and can share. BHAG defines your innovation mission by asking questions like, “where is your BHAG at?” Is it going to motivate and attract people to want to be on this project to deliver that mission? Law of Execution The seventh and final innovation law is the law of execution. The law of execution says that ideas without execution are a hobby. Putting ideas into notebooks and sticking them on the shelf provides zero value. How do we deliver ideas? For ideas to become successful realities, action is necessary. You need to translate that idea into something tangible like a mobile app, a piece of hardware, or a new advertising campaign. The law of execution is where rubber meets the road because without execution, all the other activities in the innovation create no value. When ideas are executed, they translate into innovations that can have a significant impact, and in some cases, can even change the world. Teams and organizations should focus on that ability to execute and drive strategies to get things done. Take your best ideas and execute them. If you can’t see this video in your RSS reader or email, then click here. Navigating the Path to Innovation Success The seven laws of innovation set a clear path for teams and organizations to embark on to reach success. Failure can be mitigated by following these principles during the innovation process. Although there is no clear-cut way to reach innovative success, these laws are proven by trial and error to guide and direct people to achievement.   To learn more about the secrets to innovation success, listen to this week's show: 7 Secrets to Innovation Success. 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During CES 2024, the innovative products and concepts on display showed the exciting future of technology. OliverIQ debuted to the public with its unique home automation platform. This versatile solution streamlines the process of turning your home “smart.” Founders Will West, and Eric Smith presented OliverIQ as a solution that turns connectivity across devices into a service that caters to those looking to use technology as a helpful addition to their homes. In this episode, we delve into how West and Smith used out-of-the-box thinking to find a solution consumers didn’t know needed solving. Will West on OliverIQ Will West, CEO and Co-founder of OliverIQ, set out with a clear goal of bringing automation to the mainstream market. Producers in home automation were marketing more toward the high-income consumer while the average household could not enjoy the same benefits. With installation and maintenance fees inflated, there was a need for a streamlined and cost-effective service for the everyday user. After decades of perfecting, we created OliverIQ to break down these barriers. With OliverIQ, your smart devices, such as doorbells, lights, and speakers, work together to create an enjoyable experience for you, the consumer. Not only are your devices connected to a user-friendly platform, but any problems your devices face can be fixed by servicing agents through the app with a simple call to around-the-clock agents. This practical solution takes the hassle away from the consumer. “By 2025, the average American home will contain 500 smart devices, transforming even the simplest of daily routines into a futuristic experience. Think about it. In a world wired for connection, your home is just one ‘Hey Siri' away from becoming your personal assistant.” If you have a problem with plumbing in your home, you would call a plumber, and OliverIQ takes a similar approach in their product strategy. When issues arise with your home devices, instead of you having to take care of them or find a willing installation company to fix the problem, OliverIQ will find a way to fix the problems of multiple devices for you. Technology lovers design OliverIQ for technology lovers. It brings convenience, efficiency, and enjoyment into the lives of everyday people at an affordable price. Eric Smith on OliverIQ CTO and fellow Co-founder Eric Smith combined his decades of experience in research and knowledge in the automation field to perfect OliverIQ. He faced challenges as unique problems arose with the ever-changing tide of technology. He realized one glaring problem in the home automation arena. Due to automation decay—the natural process of devices experiencing problems such as glitches, going offline, or undergoing updates—users constantly find themselves fixing multiple devices in the home. Usually, the fixing falls to the user to figure out. There needed to be a way for these devices to be maintained simultaneously on a more significant level. There needed to be consistency and a higher level of performance. OliverIQ found the solution to home automation problems by looking at the channels used to solve this problem and finding a way to integrate multiple technologies across one platform. Consumers don’t need to find an installer willing to fix the problem because the tech support channel takes care of the problem. Users also don’t need to worry about technology not working together or a device having problems. OliverIQ streamlines multiple devices and brands to work together smoothly to provide the home experience you want by setting the lights to a specific shade or thermoset to a particular temperature. OliverIQ brings the consumer a specialized experience at a low cost. Conclusion OliverIQ is a novel platform that bridges the gap between technology and home life. It creates a seamless experience for users and takes the stress of fixing devices off the shoulders of consumers by using around-the-clock representatives who are ready to help. Using innovative designs, OliverIQ makes home automation systems easy to set up, use, and maintain together. To learn more about the future of home automation, listen to this week's show: Exploring the Future of Home Automation with OliverIQ’s Will West and Eric Smith. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast

The world of innovation is wildly fascinating and constantly developing. At the CES conference in Las Vegas, some of innovation's biggest names display their newest creations for the world to see. The fact that any one of these creations could develop into a groundbreaking innovation with global reach is exciting. This year, innovations varied from entertainment to transportation, with predicted tech trends affecting inventions in all these areas. Standout Innovations TVs and display screens constantly develop as companies seek to upgrade their products with bigger screens and clearer resolutions. Samsung and LG both announced their latest contributions with the potential for use in marketing for businesses and the entertainment industry. Transparent Displays LG's groundbreaking announcement of its transparent displays generated significant interest. There are various potential uses for transparent displays in many fields. One such use is marketing in businesses. Using a transparent display to advertise a product in a store-front window would allow customers to see a snapshot of the store's most eye-catching product while also being able to see beyond the store's advertisement into the store. Transparent displays can be used in unexpected situations, making them all the more unique. Larger Screens Screens on different devices have progressively gotten larger over the years. With a 180-inch screen displayed at the convention, it is hard to see how a large screen would be practical for viewing in the average house. However, companies are not just making displays for the intended purpose of watching movies or TV. A recent surge in the gaming industry has companies taking notes on improving their displays to target this audience better. The focus on size has shifted. Companies focus on improving color, size, and refresh rate so gamers can enjoy better posture, less eye strain, and better experiences. Transportation Innovations in transportation have evolved to heights that once seemed impossible. The idea of flying cars was a concept that seemed almost mythical for many years, but it is now something that could be obtainable soon. At CES, through a simulation, people could experience what it would feel like to be in a flying car. Bringing this experience to life infused it with an exciting outlook for the future of transportation. Robotics While robotics have found applications in various industries, from restaurants to factories, they have not yet become mainstream in households. Various companies have shown interest in robotics and have contributed to advances in that area. Work still needs to be done, but humanoid robots that can assist in households could be a sooner reality than we think. Predicted Trends for 2024 With so many wonderful innovations on display this year, one can conclude three factors. The first is that every company appeared to use some form of AI. AI isn't as exclusive as it once was, so companies using AI must find other ways to differentiate themselves from each other. One such way that companies using AI can stand out is by investing in quality training data that is specific to their use cases. As AI becomes mainstream, companies must find ways to stay ahead of the competition and remain relevant. The second trend is on most people's minds, from consumers to producers. The state of the economy has people worrying about employment and whether they will have funds to afford housing, food, and other necessities. Companies worry about whether consumers will be spending and willing to buy their newest products. This can be concerning for innovators as finding funding during uncertain times can be extremely difficult. Even with funding, another concern is whether consumers in many households across the US will be willing to buy a new product when disposable income is used for necessities. The third trend, innovation confidence, is vital for success in businesses. The conference exuded a palpable excitement for the future of innovation as presenters and workers, representing their beliefs, contributed to the atmosphere. Even though times are uncertain, innovation continues to thrive as our world needs new perspectives and solutions. If you can’t see this video in your RSS reader or email, then click here. Conclusion Innovation is reaching transformative heights as new technological, transportation, and entertainment inventions surge. With these changing innovations, predicting trends will help companies maintain a competitive edge that will keep consumers interested now and in the future. To learn more about the new trends at CES 2024, listen to this week's show: 2024 Innovation and Trends to Watch. RELATED:   Subscribe To The Newsletter and Killer Innovations Podcast