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8 Big Ideas

When you think of the words "finance" and "accounting" it's not likely you free-associate the words "creativity" and "innovation." To the uninitiated, finance and accounting are a science or practices and procedures that report and record, summarize, analyze, and explain business and financial transactions. Creativity and innovation, on the other hand, are highly speculative. They are the "soft arts."

So, why would you ever want to bring the creative art of business innovation into the science of commerce and finance? The easy answer is that people want to be inspired, not just informed. But the real, more compelling reason has to do with money. (Spell that M-0-N-E-Y.) Fact: the more inspired or inspiring (the smarter) your ideas, the more money you'll make, the more loyal your customers will be. Over the last 20 years, I've observed that most often, the smart money and the smart people follow smart ideas. Not always, but most of the time. Thus, never underestimate the power of smart. It can transcend the power of personality, the lure of position and the appeal of prestige. Stated another way: Smart wins, period.

8 Big Ideas

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Corporate executives like to declare that the business of making money is the business of business. "You want to know why most CFOs wear pin striped suits?" knowingly asks Rick Knight, a former Baxter Healthcare marketing director. "Because they look like the lines on a ledger sheet."

But Andy Bolton of American National Can doesn't buy the argument that "staying within the lines" is all "the suits that run the store" want. He points to the number of new entrants in the global market that do not shy away from aggressive, no-holds barred tactics to pry consumers to their brands. "Competition," Bolton says, "forces you to not polish yesterday's successes but to out-innovate your competition." That means, outthink them.

Hint: Innovation is about thinking smart and acting smarter. "If you don't have them, get them. If you do have them, rewrite them, once a year," remarks Anthony Barrett, retired Amoco vice president on corporate creativity and innovation initiatives. "We're all in this together, which means creativity, and its first cousin innovation, can't only happen in those departments with that name. And like everything else, they need to evolve."

It's a "minds-on" experience in which everyone participates. Enter the new millennium mantra: Innovate or disintegrate. The question is, bow? What follows is a list of attitudes and practices l have found most useful in the more than 100 "ideation" (or brainstorming) sessions l facilitate each year.
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BIG IDEA #1:
THINK SMART, ACT SMARTER

My colleague, Bryan Mattimore, author of 99% Inspiration recently sat down with a group of insurance executives whose responsibility it was to add customer focus to their claims processing group. Their job was as important as it was daunting. To a great degree the company was a profitable, well-managed bastion of predictability. Ho-hum! They reasoned the management of customer claims was a deliberate (a.k.a. "slow") process.
____Mattimore chose not to confront the process. Instead he questioned the assumptions on which the process evolved. He told them to "forget about" conventional wisdom which had lead them to the notion "claims were bad" and embrace its antithesis. TRANSLATION: make claims good.
____Think about it. What would happen if your customers knew your company had the fastest, most fair claim fulfillment policy in the industry, or that your customer service representatives were compensated more on their polite, efficient fulfillment of claims than their sales records? Here's a hint: Customers would pound a path to your door. And they did!
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BIG IDEA #2:
QUESTION YOUR ASSUMPTIONS
It is ... I repeat ... it is arguably your greatest creative challenge to relentlessly expose those sacred, DO NOT TOUCH product, market and corporate assumptions, and purposefully question them one-by-one. And while you are at it, don't take anything on face value. Be unreasonable. Keeping repeating: Nothing is sacred. Remember, sacred cows make great hamburgers!!!
____And go, get yourself fired. Think about it: What could you do that would be so unexpectedly unwise, so seemingly silly that you could literally get yourself fired from your job? Consider Post-It Notes. Its creation was a mistake, a failure. Nobody wanted it. Nobody even asked for it.
____Imagine its inventor walking into a product review committee meeting and getting glued (pun intended) to the wall, "Nice job, Sticky, an adhesive that doesn't bond to paper. What's next? Are we going to put it on easel pads?"
Here's another consideration. Imagine a dozen Disney executives armed with the latest data on "Marketing to Generation Xers' walking into offices of Otis Elevator and asking (demanding is more like it) for an elevator that descends at the rate of a scream. "Okay Mr. Eisner, can l fill that pipe for you again?"
____Is this another Mickey Mouse idea? Think again. What Disney saw (crystal clear, as a matter of fact) is that teenagers love to be scared. Really scared. Scared out of their wits. What do you do with this knowledge? You create the Tower of Terror, and profoundly scare the bee-Jesus out of your teenage sons or daughters while your soon-to-be-teenage children are on the other side of the park playing with Mickey and Daffy. Magic? You bet it is. It's also very, very smart.
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BIG IDEA #3:
TURN YOUR WORST IDEA INTO YOUR BEST IDEA
Frankly, this is perhaps the most profound, yet profoundly simple, technique l have ever used. By design, it eliminates performance anxiety. Imagine our new product review executive again. "I'm sorry, Sticky, we were looking for something much worse than that? You haven't disappointed us enough. Try again."
____l have long held the belief that if an idea doesn't seem utterly ridiculous at first, there's no hope for it. Translation: Give them a good W-H-A-C-K. Search for the light through the cracks! Let it shine! Make 'em squirm! Success is not guaranteed. And that is exactly the point. You have to take chances.
____Failure to take a chance is your fastest ticket to staying right where you are. The world's greatest inventors, most talented entrepreneurs, most successful leaders were, at one time or another, the biggest failures you ever met.
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BIG IDEA #4:
CREATE YOUR OWN LEONARDO
Do you know who was perhaps history's most spectacularly successful failure? Let me give you some clues. Few of his paintings were ever finished, at least to his satisfaction. His most visionary inventions - airplanes, helicopter, cars, bicycles, tanks, and submarines - were never built in his time. We can only imagine how this self-taught genius leapfrogged the knowledge of his time and saw into the distant future. His name: Leonardo - not DiCaprio - but DaVinci.
____DaVinci's lesson is to find the "sweet spot" between failure and success. Both extremes are central to finding your own Leonardo.
____Reverse your logic. Take the best of your worst idea and combine it with the worst of your best idea. This is not a trivial point. It is at the heart of innovation.
____Failure may not be something you brag about to your friends or children but it's nothing to fear. Embrace it! Use it fearlessly.
Failure. Safety. Combine the two. Failure and safety. Fail-safe. l like that. Combine a bad idea with a good idea. They compliment each other. Together they spell S-U-C-C-E-S-S.
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BIG IDEA #5:
CUSTOMERS SEEK VALUE BEFORE THEY SEEK PRODUCTS OR SERVICE
Tony Winch, former creative director at Hill, Holiday in Boston, got it right 20 years ago when he said, "Computers don't make smart people smarter. They make dumb people faster." What Tony didn't know (neither did anyone else) is the speed at which information is absorbed is not proportional to its availability. It's all around us in nanosecond time. E-mail, voice mail, direct mail. Internets, extranets ... safety nets? (We need one.)
____It's obvious - to me - as we automated back office (spelled B-O-R-I-N-G) tasks, they got faster, not better. Remember the "paperless office." Winch's comment, "That'll happen when we have the paperless bathroom."
So what did we do? We took the same "make it faster" paradigm, polished it, and brought it into the front office. Viva la revolution! What were we thinking?
____Fast and smart are not inextricably linked. Achieve one at the expense of the other and both fail. SPLAT!
Today, the focus is value, as in better-run companies with hordes of service-minded individuals - accountants, engineers, planners and resource managers of all kinds -needing to provide better value.
____Smart companies, the best of the best passionately pursue one goal: providing value to their customers. Let me repeat that: They provide value. You've got to think SMART before you can provide VALUE.
____Think about what your customers and clients value. People assess value after the time of purchase. The smart money says if you understand what motivates your customers (internal and external) before the time of purchase, if you embrace their needs, if you articulate them, and if you invest in "customer/client outcomes" (before your own!), you can create products and services that will keep them coming back in droves.
____My point (the only one worth remembering) is unabashedly create ... create ... create customer value. Or, drop your resume off in the mail today!!!
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BIG IDEA #6:
COPY THE HABITS OF COMPANIES YOU ADMIRE AND FEAR
Virgin Atlantic, Ritz-Carlton, Saturn, Disney, Starbucks, Wal-Mart, Nordstrom's, my paper delivery person (create you own list) are "doing" things differently than their predecessors. If stealing is the highest form of flattery, why not copy their habits. See why they work. Feel how they work - feel it in your guts.
____Stir the waters of convention by putting into practice the "best practices" of your most admired and feared competitors, companies and individuals. Ask yourself: What would they do? How would they do it? What would they say about your plans?
____Take our previously mentioned insurance company. What would they do if Wal-Mart adopted them? Perhaps they would revamp their sales and distribution channels, slash their legions of agents and vend more products through banks and brokerages. Perhaps they would eye creative ways to buy insurance through television infomercials. Perhaps they would steal a page from the books of mutual fund supermarkets. Maybe, (now this is heresy) they'd even sell other companies insurance products.
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BIG IDEA #7:
ENGAGE ALL FIVE SENSES
Time and time again, l walk into an office building for a "ideation" (A.K.A. brainstorming) sessions only to find hundreds of ecru-colored (is ecru really a color?) cubicles, lined up in graveyard rows, all looking, feeling and smelling alike. It's part of the human condition to make do with what you've got.
____Let's take dunking as an example. You take something bad - like a stale cracker - and dunk it into something not so bad - like a sweet glass of milk. Eventually, by limiting your choices to stale crackers, you think stale crackers are better than fresh ones. That's because the mind adapts. The body then follows and the organization sinks like bloated crumbs to the bottom of the cup.
____Shame on you. Wake up! Smell the problem. Shamelessly use all your senses. "Improve or modify your environment if you want people to be involved" asserts creativity guru Mike Vance. "Create your own stage. Theme your own space." Bring in stimulus - books, tapes, pictures, gadgets, widgets. Create a monument to your imagination. Change it every week.
____Step into the office of David F. D'Alessandro, president of John Hancock Mutual Life Insurance Company, and you'll find a red Fender guitar that Ron Wood of the Rolling Stones once played, Mohammed Ali's satin boxing shorts and a $22 check that Mae West signed. Is D'Alessandro trying to make a point? You bet he is. Insurance companies aren't the same anymore. For Hancock policy holders, the writing is on the wall!!! "Symbols are ideas made visible," says Vance. Make your ideas visible. Let them live out loud!!!
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BIG IDEA #8:
DISPLAY YOUR THINKING
Add a whiteboard and a box of colored pens to every cubicle in the building. Put an idea, opportunity or problem in the center of the board. Tony Buzan calls this idea mindmapping.
____Add thoughts, words, colors and symbols to the board every day. Have others add to it. Make it fun. Collect it at the end of the week. Do it again next week ... and the week after that ... and the week after that.
____You can't think differently unless you do things differently. And if thinking about things differently is not accompanied by the act of doing things differently, then the thought (and the message) is to do things the same. And being the same is just about as exciting as ecru.

Written by Robert Taraschi
Reprinted with permission of Insight Magazine, January 1999