Leadership Through Creativity Dr Peter Kelly School of Science, Aalto University

Innovation is the act of introducing something new

Search and Select Strategy Market already exists in some form Undertake detailed analysis to identify opportunities Assess market potential on basis of segmentation and past demand Assemble resources to exploit the opportunity

What Type of Thinking Do We Use?

NDA

Easier to say no than contemplate implications of saying yes

Resource providers conditioned to ask “why” not “why not”

5% of a big number is still a big number

50k – 100k+ is easy to find but then what

We don’t need outside help

An ability to think up and design new inventions, produce works of art, or solve problems in new ways, or develop an idea based on an original, novel or unconventional approach

Does it actually work?

When does it work?

Is Creativity Likely to Happen Here?

Or Here?

To get to a more innovative place we need to creatively explore

Exploration is Inherently Intuitive

What Can We Do With Our Means?

What Are My/Our Means? Who I am? Traits, abilities and attributes of entrepreneur/team What I know? Education, experience and expertise Who I know? Social networks

I want to invest my time doing this because...

Risk Little, Fail Cheap

Affordable Loss: Risk Little, Fail Cheap Put very small amounts of capital and time at risk to explore with an open mind – Is this something I want to do? – Is this something worth doing? – What informative experiments can I set up to assess riskiness of project? – Risking little implies thinking creatively about how to bring cost of discovery down while … Primary due diligence

Co-Create Solutions With Partners

Co-Created Solution

Co-Creator Mentality Actively seek out potential co-creators Open mind as to what is being created Co-creators bring new resources and perspectives to the game As decisions are made as to what and who are co-creating – choices are made (business plan)

The Element of Surprise

Who Would Have Thought?

World’s First Jumbo Hostel

New Co-Creation Possibilities

Surprise Encounters

Balancing Thinking Styles

Visionary Leaders Already Do This

Effectual Entrepreneurship Holds Great Promise Where do we spend our time (means) What do we spend our time doing (affordable loss) Who do we work with (co-creation) Open to and seeking out new perspectives (surprise)

Some Insightful Reads

Effectual Entrepreneurship In Practice Working in pairs, your challenge is to co-create a wallet that meets BOTH of your needs Use any available materials & give the offering a name