Written by
Melissa Lohrer
What is it about independent thinkers that allow them to expand their mindsets further and shift paradigms? They meet challenges not only with clear-cut solutions, but with grit. In an age defined by disruption, we’ve witnessed great thinkers adapt exceptionally to ever-changing circumstances.
When the world was turned upside down in 2020 by a global pandemic that many were not prepared for, a shift in innovation occurred too. From virus-killing masks to touchless doors and grocery stores that set up texting features to find out the quietest times to shop, we saw innovation accelerate at impressively rapid rates for the betterment of all.
As we become more enlightened and wiser with time and experience, we continue to grow and look for answers on what or where to innovate next. Our perspective has always been that of the entrepreneur — so we’re sharing what we’ve learned along the way to help you navigate.
OPTIMISM
We often think about entrepreneurs as “visionaries” yet still overlook one of their biggest assets: their adept ability to problem solve and recover in real time.
In 2020, we had the privilege to attend a talk on resilience given by Karen Reivich at University of Pennsylvania (hosted by our friends and partners at The OKC Thunder). One key takeaway is the importance of optimism in being resilient.
“Optimism does not mean being blind to the actual reality of a situation. It means maintaining a positive spirit to continue to seek a solution to any given problem.”- Dalai Lama
These words resonate with us so deeply as entrepreneurs by serving as a reminder that it’s okay to fail, not have all the answers, and still remain positive. In fact, we need to be confident in problem-solving our way through the unknown, one obstacle at a time.
Through this sense of optimism, we’re able to drive innovation and disruption—in our business and more importantly in our work. If we can focus on finding solutions, we set ourselves up for opportunities and, ultimately, growth. And while finding solutions was something many of us learned to be critical in getting through the pandemic, it will remain a sentiment we will continue to leverage as a best practice — always optimistic and focusing on the solution.
BETTING ON THE FUTURE
Our industry, like many, is always changing. For us, that means playing it safe and staying still is more dangerous than taking calculated risks that propel us to evolve.
In her book Thinking in Bets, Annie Duke explains how uncertainty makes every decision we make a bet against all the futures we’re not choosing. We relate to this notion because, while it’s uncomfortable to never fully know what will come next, we can use our best judgement based on the facts we do have to make intelligent choices and at least try. We've seen entrepreneurial thinkers shift their focus towards bet-thinking: better decision-making starts with getting comfortable with the uncomfortable.
The brands and businesses that embrace this uncertainty are still growing in the face of cultural shifts and, therefore, securing their future.
Elmhurst is a perfect example of what it means to bet on the future and win. A long-time dairy producer in a world moving away from milk, Elmhurst forged a way forward by pivoting to nut-based milks. In doing so, it secured its own future.
Over the past year and a half, we've partnered with many brands that felt stuck and uncertain about where to go next. Categories and consumer preferences have dramatically shifted and because of that, iconic brands have lost their standing in the category. In our work, we encourage brands to get out of these ruts by going back to their roots and remembering their purpose. Why do you exist? What is your role in the world? Are there new ways you can deliver on those foundational aspects through innovation? Ultimately, innovation is a tool that drives future-readiness. It’s about building equity for your brand and forging deeper relationships with consumers in a genuine, meaningful way.
As we look to the future, we need to go back to basics and define the role of our brands in a new age, or risk being left behind.
RESOURCEFUL
Entrepreneurs are often strapped for resources and tasked with creating something out of little-to-nothing. If the pandemic has taught us anything, it was to never take what we have for granted. We must be prepared to think and act on our feet in the face of adversity.
Many businesses, whether out of necessity or inspiration, have learned to innovate quickly. Many have redesigned their business models in order to overcome the reality of failure.
Take Bright Future Foods for example. Led by a small, visionary team, they launched Airly, a first-of-its-kind sustainable snack. Their mission was clear: to create a climate positive (or carbon negative) snack and, in turn, reverse climate change through food. Through regenerative farming they had the technology to take action, but they did so with limited resources and a fearless drive and sense of urgency to contribute to a better planet.
In our experience, some of the most successful launches have come when resources were limited and the need to be creative and make a positive difference was great.
So, what can brand leaders learn from the ingenuity of entrepreneurs?...
In spite of challenges, uncertainty, and resources, you should embrace the opportunity for innovation, even if in small increments as even incremental innovation has the opportunity to drive growth. We partner with brands big and small—whether the objective is to help a better-for-you disruptor like KIND enter a new aisle in the store or to help Starbucks create a global energy strategy, these principles still apply and guide our thinking. You can be sure the brands that lean in will problem-solve, optimize, and evolve their way to impactful solutions, and we challenge you to do the same.
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