A very few serial entrepreneurs are natural innovators. They use "effectual logic" to explore new opportunities and constantly learn how they can reimagine themselves for their business models or ideas to be more effective. They have strong innovation capabilities that include idea generation, clear vision, can quickly identify real need in the market, testing and relationship building.
The process includes finding the right talent who are willing to take on challenges at every turn; reframing business models, (and sometimes even creating their own), understanding key differences between trends versus fads, testing and experimenting ideas based off data analysis throughout development stage. My guest Alex Mashinsky shares his successful journey with radical innovation, his purpose driven mindset and commitment to do good for communities.
What we cover in this episode:
5:07 Using Effectual logic
8:39 Aligning soft skills and finding talent
11:02 Creating business model around new paradigm shifts
12:16 Being community-centric first
13:44 Learnings from failed ventures
17:07 Changing customer behavior for new adoption
21:20 Purpose and alignment leading to success
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What is “The Innovative Executive”?
Insightful conversation with business and thought leaders who share knowledge and stories about project selection and company growth. With a focus on Rethinking your business model, innovation and collaboration and leveraging technology. You’ll learn how to strengthen your innovation capabilities.