Element 6: Innovation

In this video series, we're talking about elements of leadership. Today I'm going to talk about innovation.

Now when people think about innovation, they normally think about product or process design. What's the next new product or thing we can invent from scratch? The iPhone comes to mind. What's it going to look like? What are the features? The Tesla vehicle was a phenomenal innovation for the automotive industry. So the mainstream view of innovation centers around developing new products or processes.

Another way you can develop innovation in your group, though, is to establish a culture of reuse. So this process of reuse is thinking about your own issues and finding other people that have already solved them.

Let me give you an example. Most of my career has been spent in corporate America in various positions both here and abroad. So when I decided to go into executive leadership coaching, I thought I had the background to do it. I had a lot of experience in various roles, spent time here, spent time in Europe, spent time with M&A. I thought I was pretty equipped to help people through leadership development in all areas in all industries. But I took the time to think about: what are the best practices of coaches? And sure, experience is one of them, but the other one was developing deep and quick relationships. So I thought about, "Gee, I could study psychology books all day long and try to figure this out." Or I could think about who's already solved this problem. And when I went through that process, I came up with one choice: hostage negotiators.

I thought if I could learn how hostage negotiators deal with building relationships quickly because there's high risk and a lot involved, if I could use their process, I'd have the best process in the world to build relationships. So I found a way to have a meeting with the head of hostage negotiations in New York. Arguably, it was one of the best meetings of my life. He was just as fascinated thinking about why I would want to know his process as I was to learn his.

So let's review: The first area of innovation is certainly developing new products and processes. The second area of innovation is developing a culture of reuse -- taking the time to think about your issues and problems and finding other people and industries that have solved them and spending your time adapting them to your application.

The third area of innovation is developing a culture of critique and challenge. Taking your vision and strategy outside of your organization and inviting critique and challenge.

Let me give you an example. A CEO colleague of mine takes his team out four times a year and visits with key customers or suppliers. Obviously, there are non-disclosure agreements and partnerships, etc. Each shares their vision and strategy for the future, inviting reasons why the strategy won't work. Tell me why this won't work. Poke holes in it. Find opportunities for me to improve my vision and strategy. This outside view creates all kinds of opportunities for both companies and, therefore, it's an innovative way to make your strategy and vision better.

So constantly ask yourself:

• Are you driving innovation in your products and processes?
• Are you fostering a culture of reuse?
• Are you inviting critique and challenge to the status quo?

Great leaders drive these three areas of innovation all the time.

Thanks for taking the time for some ideas on innovation! In our next video, we'll be talking about building relationships. For more leadership thoughts, subscribe to our YouTube channel, follow us on LinkedIn, or visit our website wynstonepartners.com. Remember: better leaders, better business.