Module 3 - Innovation

[Olivia Francesconi]

• What is one way trait or behavior that they practice that encourages innovation in their team?
An old colleague, Rudy Crous, started his own business. It was originally Shortlyster and now Compono. He’s on entrepreneur.com and a range of other websites. He developed a HR tech platform ‘that uses smart data and science to match organisations with candidates’. His whole concept was innovative, it was a new way of recruiting. Rudy always thinks outside the box and ensures he hires people who do the same. He ticks off all the 10 traits but I think mainly 1 and 2 – doing things differently and being an authentic leader. I met with him recently and he said his biggest concern was his people. I asked what keeps him up at night? He said ‘making sure my team enjoys their roles but they still get paid.’

• What is one thing that you took away from their work that you are striving to implement today in your work?
Never giving up. Backing yourself and your idea, regardless of what others tell you. Rudy put his house on the line to have the funds to support his innovation. No matter how tired he gets or how many challenges he encounters, he keeps going. I think perseverance is crucial during innovation, as is risk taking. As per trait 6, innovators take higher risks. We’re often afraid to fail, but innovators don’t stop.

[gdidona]

Hi Liv, Wonderful example! He definitely seems to embody the definition of an entrepreneur as well as an innovator. I like the takeaway of never giving up. It is so true that during any change, particularly one involving a high degree of innovation, a level of risk must be taken. I wonder, though, how does someone know when the risk outweighs the potential gains? (Putting your house on the line is pretty darn risky....) We will get into this more during the Risk Management module, but it is a dimension that definitely plays a role in the innovation process.

[jennfriesen]

Hi, Liv! What stood out to me was your comments around perseverance, how innovators take higher risks, and how innovators don't stop. I think Gary and I are on the same page because I feel this concept is intimidating to many but I, too, was curious about some of your thoughts around balancing the "never give up" attitude with potential risks?

[ofrancesconi]

Hi Jenn and Gary, well I'm married to a finance guy who's highly risk adverse so I don't ever envisage putting our house on the line! However, we've certainly taken some risks (personal and career) that have proven beneficial. We look at risk as 'if I take the risk, what do I have to loose vs what do I have to gain'? I think that for most people it's the fear of failure, or loosing money, security, safety, reputation, etc. I think people like Rudy see beyond that and focus on what they have to gain - experience, growth, humility, innovation, and hopefully financial gains. How much risk is too much risk? I don't know! How long is a piece of string...? Or perhaps there's a better formula :-)
My dad fled from a Communist country when I was little. I grew up with stories about the challenges, but also the rewards, of risking your life for something better. Perhaps risk is relative - what one person perceives as risky, might not be so risky for someone else?
Looking forward to the next module!!
Thanks for your responses, Jenn and Gary!
Liv