Being entrepreneurial

How to create business opportunities, generate innovative ideas and take successful risks as an employee

Douglas Miller

‘Ideas without action pass the time. Ideas with action change the world.’

Objectives

This ebook has three core objectives:

  • To understand how to generate ideas and identify business opportunities through the brilliance of your imagination.
  • To understand how to assess risk before you go live with your ideas.
  • To understand why entrepreneurial behaviour is not a solitary activity. Other people are essential for your effectiveness.

Overview

Our three core objectives are achieved through a simple two-part structure.

Part One: Ideas.

The thinking processes needed to fire your entrepreneurial imagination and generate ideas and opportunities.

Part Two: ‘Risk and action’.

The skills needed to turn these ideas and insights into action through assessing risk, reducing these risks and increasing the chance that you are ideas are successful.

In addition it is packed with tips and suggestions, highlights potential pitfalls and offers opportunities for self-assessment that will help you be the ‘employed’ entrepreneur you want to be.

Context

At the formative stage of your career you’ve got some challenges – how to work as part of a team, for example. For much of your formal education you’ve been sitting at a desk, locked in your very personalised world of laptop, internet and books, occasionally with a teacher/lecturer instructing you. And probably, particularly at the latter stage of your education, with your headphones on and the sound turned up – therefore further personalising your world. You’ve got to where you are mostly because of your own efforts. All this suddenly stops. That ‘me’ world you’ve lived in to get you where you are now has become a ‘we’ world. From now on, everything you do, every idea of you have, every opportunity you spot to do something better, cheaper, quicker or just differently will be totally dependent on others. And that’s really what this ebook is about. Having ideas, creating links between ideas and action and then making sure there really is action – with the help and support of others.

Challenge

Have you ever looked out of the window of a plane in mid-flight? Perhaps it was night-time and the sky was cloudless too? You have a magnificent view and your imagination starts to wander at the sight you have before you. The mass of lights that indicate human presence fire your mind – you might ask what all of those ‘unknown to you’ people are up to. Thousands of car lights tells you that many are driving; the houses are occupied by people doing a million and one different things, and perhaps you spend a moment to consider what they might be doing; ships on the sea with people transporting goods for trade or people holidaying, and larger scale panoramas of industrial areas, and a sudden blank of light in the spaces that haven’t yet been filled by human activity. The mass mix of people going about their diverse lives is a stunning sight if your let your imagination run wild for a while. For a time you’re in awe of what you see – not just the sheer magnificence of the spectacle but also the sheer range of opportunity that life itself presents.

Then you get to the airport. Those thoughts of energy, opportunity and excitement quickly subside as you are confronted with the tedium of a long passport queue, collecting your heavy luggage and negotiating the last part of the journey.

So, here’s the challenge for the entrepreneur and the intrepreneur (see below). How to maintain that inspiration, imagination and curiosity that’s easy to access in a particular situation, but not so easy to access when the routines and challenges of typical working days are testing your inner spirit and resolve. As we’ve seen in our objectives, the challenge exists not just in the generation of ideas, but also in the way we recognise the risks associated with our thoughts and ideas and to make good decisions on what to do based on a rational ‘head’-based (and a bit of ‘emotional’ heart too) approach to risk assessment.

Note for the reader. To be technically correct ‘entrepreneurs’ refers to those who run their own businesses and ‘intrepreneurs’ to those who are employed but take on many of the characteristics of entrepreneurs. However, the word ‘intrepreneur’ is not widely used so for this ebook ‘entrepreneur’ refers to those who are employed but behave more like those who are self-employed or who run their own businesses.

Part One: Ideas

Learning Objective: To understand how to generate ideas that solve problems and identify or exploit opportunities and to recognise the differences between three different solution types – Routine, Evolutionary and Revolutionary.

Being an idea generator

A version of this exercise first appeared in my book Brilliant Personal Effectiveness. It takes about three minutes and you need three sheets of paper and a pen. You will need to draw three things, one on each sheet of paper. It is not a test of your drawing ability so don’t worry if drawing is not your top skill! Although it is tempting to just read the exercise below, please do it if you can – it makes your understanding of the different ways you can be creative that much stronger. It goes like this:

  1. You own a shoe manufacturing business and you are about to exhibit your new shoe design at the Milan Shoe Fair. Please draw the shoe that you will be exhibiting. Take a minute or so to draw it and please don’t read on until you have.
    Put the drawing to one side for the moment. You’ve sold that business and decided to set up a new business …
  2. Your new business manufactures CD boxes. Can you draw your design for your latest CD box? Take a minute or so to draw it and please don’t read on until you have.
    Put the drawing to one side for a moment. You’ve sold that business too and decided to set up a new business…
  3. This is the final drawing. You have set up a new business that sells mobile phone shakers. Please draw a picture of your new mobile phone shaker that will go to market. You should not fear being wrong. Draw what you like. And please, once again avoid the temptation to read on until you have finished.

Ok, so what are you thinking? Probably ‘what on earth is a mobile phone shaker?’ And then maybe you either thought the author was stupid for asking you to draw something that doesn’t exist or that you thought you yourself were stupid for not knowing what a mobile phone shaker is. As far as this author is aware a mobile phone shaker doesn’t exist so in effect, as the artist, you are being asked to invent something. So, how did you do? Did you give up because you didn’t know what it was? Or did you have a go anyway?

Let’s look back at the first two drawings and then come back to the final one. With the first drawing you were asked to draw something with which you were familiar, which already exists, and therefore, if you look at the drawing now it is obviously some kind of shoe/boot. We call this kind of creative thinking ‘routine’ or one-dimensional thinking. It’s very important in the workplace. Not every idea has to be ground-breaking. Little adjustments can be incredibly valuable. With the second drawing there is a little more ambiguity. Is it a box for holding one CD? A box for holding lots of CDs? Possibly a piece of furniture that looks good in your lounge and holds lots of CDs? If ten people are asked to draw this simultaneously there will be a variety of different designs. But the fact is that we all know what a CD is and we are being asked to design some form of container which we also have a frame of reference for. We call this ‘evolutionary’ or two-dimensional thinking. Another step change is needed in imagination beyond that required for the shoe.

So now back to the mobile phone shaker. If you drew this you probably tried to make a connection between the word ‘phone’ and ‘shaker’ and went from there. Nonetheless you were creating from scratch, and we refer to the thinking applied here as revolutionary or three-dimensional. Once you felt comfortable with your new challenge you did it. But perhaps you didn’t? There are three key reasons why some people struggle to unblock their thinking:

TIPS

  • The future. Being a prisoner of the past prevents us from entertaining the possibilities of the future. Being a revolutionary means shutting out the past. If you’re working in a sales team this might mean trying to sell into markets you’re business isn’t currently targeting. You think ‘Why not?’ Others say ‘Not the way we do it’.
  • Many right answers. Take away the fear of being wrong (or of making a mistake – see above) and it is amazing what we can create. There is no such thing as ‘wrong’ in creative thinking. Your ideas will be criticised somewhere, sometime. So don’t start the process of criticism too early yourself when you’re still thinking up new ideas. Save it for when the time comes to think about risks.
  • Feeling silly. Only fools never appear foolish. Often revolutionary thinking needs people who might appear to be silly at first but whose ideas become the norm.

Idea dimensions

So let’s recap. It’s important you identify what sort of ideas you have because when you assess risk, revolutionary ideas will usually have a higher degree of risk than routine ones.

Routine Ideas – 1D
  • These are things you do or know already with slight adjustments.
  • It’s usually the instinctive realm for ideas. We go first to what we know or are familiar with. They make life easy, quickly – a system of beliefs that guides the way we do things.
  • Routine/1-D ideas and habits are crucial in organisations. They bind your organisation together. An example of a 1D idea/habit is the way we typically pay people at, or near the end of every month.

TIP

With certain kinds of problems, where there is a single or very limited number of possible options, 1-D solutions will usually be fine.

POTENTIAL PITFALL

1-D is good. We need 1-D – if it’s working it may well not need to change. But sometimes we get stuck in 1-D because it’s familiar and comfortable. We dismiss more radical 2-D or 3-D ideas because they don’t conform to the ‘way we do it’. And sometimes a new approach is needed.

Evolutionary ideas – 2D
  • They usually occur when we make a link between similar things that share some characteristics and apply one to the other.
  • An example is the way that Western caterers, e.g. Yo Sushi!, took the service idea from Japan’s sushi bars and adapted it for a different culture.
  • While these ideas will meet resistance (‘we don’t do it like that here!’ is a classic response) they are easier to adopt than the revolutionary ideas because people can see that the idea has succeeded in a similar form, elsewhere.

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A good question to ask is Who has their version of our problem and how did they solve it? You could look at competitors if you are in the private sector, other departments and, if you are in the public/not-for-profit sector you could look at almost any kind of organisation for inspiration.

TIP

If you’ve just joined a new company, you want to apply some of the good things that worked in the place you used to work, in this new environment – perhaps even ideas from holiday jobs.

Revolutionary Ideas – 3D
  • They make connections between things that, on the surface at least, do not have any connection. The African village that needed a fuel source to pump fresh water out of the ground but couldn’t afford one. To solve the problem they asked the village’s children to play on the village roundabout, connected it to a pump which harnessed the energy created by the children. Fresh water resulted.

TIP

3-D ideas in one generation can quickly become 1-D in the next. Look at what once-upon-a-time seemed radical, but is now routine. Does it need another dose of 3-D thinking? Customer service is a classic environment for this. A great new initiative works but soon your competitors are copying and a re-think is needed.

POTENTIAL PITFALL

3-D ideas have a higher risk at least superficially, because there is usually no precedent.

POTENTIAL PITFALL

Don’t be put off by the number of pitfalls. Of course revolutionary ideas are risky, but nothing ever improves if nothing changes. 3-D thinking is essential.

So, a question you might be asking is ‘why do I need to know this?’ There are two primary reasons. The first is that it is good to have a healthy mix of 1-D, 2-D and 3-D ideas – they are just as important as each other and 1-D ideas are critical – if we had to re-invent everything we would never get through life. A second is that during the next step – when you assess ‘risk’ – 3-D ideas are clearly more risky than 2-D ideas, as are 2-D ideas to 1-D. But here’s some healthy contradiction. The biggest risk of all might be a 1-D idea. If you have a slow moving product an obvious 1-D solution might be throw more money at advertising it to stimulate sales. But this might be a very bad idea if the product has no market or is out-of-date. Sometimes people need to hear a message that is uncomfortable for them and perhaps you are the messenger.

TIP

Whether you are acting as part of a team or on your own, if you are engaged with a problem you will come up with many ideas. What is clear is that the environment you work in will influence your willingness to do this. Even at this stage you can do a little risk assessment:

  • Do you work in a place where people’s ideas get acted on? This isn’t a way of assessing success or failure of your idea in action but it does tell you how hard you will have to work to get your idea adopted.
  • Do you have a stake/interest in the success of the solution? If you do, you are likely to commit more, emotionally, to the idea. While rational risk assessment is important, your heart is important too.
  • Are you being encouraged to truly participate – are your ideas valued?

tick ASSESS YOURSELF

You can assess your effectiveness by the number of solutions you have and if there is a good spread across the dimensions.

Sparking your own imagination

If you haven’t yet had many ideas but recognise the entrepreneurial spirit in you, you will probably needs some triggers to spark your thinking. Here are some suggestions that can help you come up with new and creative ideas for business opportunities. Some of these sparks come in the form of specific questions you can ask, others relate more to mindsets that you will find useful in your quest to have business ideas that have value.

Idea triggers
What don’t people have the time for?

All ideas either solve problems or create opportunities (they can be seen as the same thing in many cases). If you are thinking about products or services, you could ask what things do people still do for themselves that they would pay someone else to do? Thirty years ago most of us still took our lunch to work. Now most of us buy it while we are at work. Thirty years ago most of us cleaned our car with a bucket of water on a Sunday morning. Now a big machine does it at the local petrol station. Or some entrepreneurial types do it for me in disused petrol stations and old car lots. Amazon understood that many people don’t have the time or inclination to go to a bookshop and has responded to that.

What don’t people like doing?

Think about some of the tasks that many people don’t like doing and how the creative minds responded.

  • Searching for the best financial deals – so we go to websites that bring it all together in one search.
  • Unblocking the drains – so we pay increasingly large sums for someone else to do it.
  • Physical exercise – so we buy short-cut solutions that counteract the effects of lack of exercise – stomach-reducing belts, newly created ‘diets that really work’ and a variety of tablets.

What about your own customers or stakeholders. What annoys them? What annoyances do they put up with about the service or product you offer?

TIP

Sometimes it can be hard initially to plant yourself in the minds of others, so why not practice by thinking about the little annoyances in your own life. What don’t you like doing that no one is currently offering to do for you? What don’t you really have time for but have to do?

What is it impossible to do now …

… but if it could be done would fundamentally change the way we do things?

The routine of the present often blinds us to the possibilities of the future. Many people, with the rigidity of their This is the way we do it thinking are disinclined to break out of conventional thinking modes. Asking this question will help you to make the supposedly impossible ‘possible’. If we all had the same view about what is impossible, very little that is genuinely new or radical would happen. Change the way you see a problem or opportunity, and suddenly the impossible becomes possible.

What if?

A classic trigger for idea generation is the ‘what if’ question. This could be in the form of a Miracle Question: ‘What if you woke up tomorrow and the problem had been solved. What would success look like?’ But it can also be stated in comparative terms. For example ‘What if walking into the reception at work was like walking into a forest after it had rained?’ You can start making connections with smell, ambience, peace, colour etc..

POTENTIAL PITFALL

The challenge with what-ifs and indeed many other creativity questions are that, although you might get something that is truly brilliant, you may also get a lot of dead-ends. But as someone once said to have the one great idea you need 100 that are also-rans.

Why me? What can I offer?

Can you tell the truth about yourself truthfully? What I mean is – are you able to accurately define the things you are capable of? Most of us dramatically underestimate the things of which we are capable. And most of us barely begin to explore the extent to which we can stretch ourselves. Those that do report a remarkable level of personal fulfilment in their lives compared to those who just tread water.

TIP

You might not be the best judge of your capabilities – others may be better judges of this than you. Are others giving you clues about where your best talents lie? Have you ever heard those ‘You’d be brilliant at that’ type comments coming from the mouths of friends and relatives or work colleagues? Being good at something leads to deeper engagement which can lead to heightened creativity and open-mindedness. A lot of people when they start work find themselves transferring to other teams or departments that best suit their talents.

The ‘mental dimmer switch’

Forcing yourself to come up with business opportunities can be counter-productive. We are often at our least imaginative when under pressure. Consciously disengaging from a challenge for a time can de-clutter your mind and return it to a more relaxed state. Think about when you have your best ideas? In the bath; on a bike; out walking; in the toilet? Probably not when you are at work and really trying to solve problems or create opportunities. Slowing down your mind can lead to solutions that a hard search may fail to find. It’s like the way you use a dimmer switch to control lights at home. Keep the switch on but don’t have the lights burning brightly all the time.

Although there is no ‘hard advice’ on how to have eureka moments, we do know that the relaxed mind is much more likely to have them.

TIP

Use your phone, tablet or a notebook to make a note of your ideas as soon as you can. They often get lost or forgotten otherwise.

Finite to infinite

Keep playing with your ideas – let them grow. Don’t just accept that what has come into your imagination is perfect already. The fact is that most ideas, when they get launched are very different from the time when they were first conceived. Explore and develop your ideas alone and with the support of others (Part Two which covers ‘risk’ has lots of advice on how to involve others).

One technique for this is known as idea ‘piggy-backing’. You can jump on the ideas of others, or your own, improving them, taking out the bits that don’t work, pulling out the risky bits and so on. Ask James Dyson how many prototype vacuum cleaners he developed before he went to market and there were many of them. It’s the same at work.

Premature criticism

You know how it feels when you hear ‘yes … but’ after you’ve made a suggestion. It’s hard to avoid the temptation to be an idea assassin so one of the dangers for you to avoid is to step back from criticising your ideas as soon as you have them. Save the analysis for later.

‘Yes … but’ often plays out as ‘Yes, it’s an interesting idea, but the reasons we can’t do it here are …’. There’s an assumption made that because the idea isn’t familiar or routine that it won’t work. It may not, but that judgement is better made later on.

Checklist

  • Use idea triggers like ‘what if’ questions and ‘idea piggy-backing’ to generate solutions, click here to review.
  • Ban ‘yes … but’ in your own thinking – don’t criticise too soon, click here to review.
  • A relaxed frame of mind usually solves problems better than one in a state of crisis, click here to review.
  • Entrepreneurs have lots of ideas – don’t limit yourself to one or two, click here to review.
  • Recognise where you have your best ideas, don’t force your thinking in unhelpful surroundings, click here to review.

Part Two: Risk and action

Learning objective: To introduce the characteristics of an effective risk-taker and to learn how to apply five different approaches to risk assessment.

You now have a few ideas that solve a problem or identify an opportunity – in effect now, the same thing. You can’t act on them all and you need to choose what you run with. A key element in this process is the risk/reward question as the link between having an idea and then making a decision whether you run with it. Generally speaking (but not always) high risk brings high return and low risk brings lower return. If low risk always bought high return we’d all be doing it, all the time. As you start to sell your ideas internally you will find that the idea assassins will have their guns loaded, ready to kill off your idea at the first opportunity. You can defuse their weaponry by making sure that you have thought of as many of the risks as you can and put in place plans to reduce the possibility of setback or outright failure. As this section makes clear, this is not a solitary activity. Just as there are people whose sole purpose seems to be to maintain the status quo, there are others who, if you work with them in the right way, will become great allies. And you can be their allies too in support of their ideas.

There are many reasons why unsuccessful entrepreneurs don’t assess risk properly and therefore fail and in this section of this ebook we look at five of them. Avoiding these will help you overcome some of your own mental contaminants that can prevent you from taking an objective look at risk assessment. Risk assessment is what we do before making a decision and is the vital element in the lead-up to making that crucial decision. Before we look at the risk factors let’s look at the mindset of the risk-taking entrepreneur.

A classic experiment – try to think about this.

What would you do if someone put you in a completely empty room with a large peg or traffic cone located somewhere in it and invited you to throw rings over the peg from any place in the room you choose? Before you read on have a think about this for a moment. There are a few options to choose from. You can of course go right up to the peg and drop the ring right over it. The easiest option of course. You could stand as far away as possible and take a gamble that the ring would make it over the peg or cone. This is the riskiest option, relying more on luck than judgement to hit the peg/cone. Or you could carefully measure out a position in a room that challenges you but that also gives you a reasonable chance of success. So, to ask the question again, what option would you take?

This experiment was conducted by one of the twentieth century’s great psychologists, David McClelland, and it says a lot about people’s preference for either safety, or high risk/failure and, in particular to what’s called their ‘achievement orientation’. Now you’re probably already saying that the safe option – standing over the peg – almost certainly guarantees success, with little risk, but in the world of entrepreneurial activity, but you’re probably also thinking that this probably isn’t the mindset of the entrepreneur.

tick ASSESS YOURSELF

Psychologists refer to something known as ‘self-handicapping’. This is where people put in pre-arranged criteria for justifying failure even before they go ahead and do something. The self-handicappers are the ones who throw the ring from farthest away, thus having their excuse ready if they fail – which most do. Even though they fail, self-esteem is preserved. This is used by procrastinators – people who put off doing things until the last moment. Procrastinators pre-justify their inaction by developing post-activity excuse nice and early – ‘I was just so busy that I didn’t have time to commit to this piece of work fully.’

So, assess yourself. What thoughts go through your own mind when you have ideas or opportunities or indeed when you just have a number of pre-determined tasks to fulfil? Do you tend to pre-load the self-justifying failure criteria or are you being as objectively realistic as you can – being honest about potential risks but also looking at how you can overcome them.

Assessing risk

In assessing risk you are trying to get the balance right between taking a chance (‘the risk’) and maintaining as much control and influence as you can for as long as you can so that your desired outcome happens. The best approach is to be ‘positively realistic’.

McClelland’s experiment, and the analysis that followed it, showed that entrepreneurs have what he called an ‘achievement’ orientation i.e. the ones who think through the distance/probability equation in what’s known as the ‘rings’ experiment but who clearly also have a sharp sense of realism in making a decision. It is this realism that’s the beating heart of risk assessment

So let’s have a look now at some of the risk assessment tools available to you. They are listed below together with the danger associated with ignoring each aspect of risk assessment:

  1. Where can I act? – Overreaching
  2. 10 × 10 – No strategy
  3. Idea size – Revolution now
  4. Force field – Of course they’re going to like it
  5. People – Hell is other people
Where can I act? (Danger: ‘Overreaching’)

As a newer employee you may face some apparent contradictions from your employer in terms of what they want from you. On the one hand, you’re new to the job, full of energy and ideas (or at least you should be!) and keen to make your mark. And that’s just what your employer wants. On the other hand, you don’t know much yet about the business and your employer doesn’t want you putting lots of your ideas into practice that may actually damage the business. And you don’t want to do that either. There is a great way you can negotiate yourself through this contradiction – it’s called ‘The Four Boxes’. What The Four Boxes do is help you define where you can act on your own initiative and where you need to seek the approval of others, including your manager or team leader. The Four Boxes do two things for you:

  • Help you decide which ideas you can act on without the go ahead, and which ideas you can’t.
  • Help you anticipate the level of support from others you will need to get your ideas into action.

Take a look at the four boxes below. They won’t mean that much just yet, so do read the description afterwards of what the boxes represent.

Where can I act?

These boxes illustrate four areas of your work and the freedom you have in those four areas to put your ideas into action. You are of course free to have any ideas you want and, if you are entrepreneurial you probably won’t be able to stop yourself having them. However, there is a big difference between having ideas and putting them into practice. This is where the boxes help. They are a great first step in assessing risk in your own mind.

What to do

Think about the things you have to do in your job. You can break this down as much as you like. Don’t just look at your job description – over time you’ll start to realise that your job description never catches up with what you really do. Then take a look at the description of each box below and start placing the different roles you perform in the relevant box.

The ‘no go’ box

This box contains things that really have little scope for change. All companies have safety policies (they have to by law) and you can’t deviate from those. We can’t break the law. Basic safety and legality issues cannot be compromised and will therefore remain in the ‘No Go’ box. But there will be others. If you work in a manufacturing environment there will be safety issues that are specific to your business. If you work in a law or accountancy firm there will be codes of conduct specific to those industries. If your job role relates to finance e.g. investment banking, there will be – or at least there should be if the lessons from the 2008 global crash have been learned – rules about what you can or cannot do. So, simply the question here is – does your idea break the ‘No Go’ box rule. In assessing risk, violating what’s ‘no go’ is not a good idea. If in doubt, check.

The ‘yes then go’ box

This box captures the parts of your job where you need approval before you can go ahead and do things the way that you want. There is more space for you in this box than the ‘No Go’ box but you will need to talk this through with others, particularly your manager. A lot of your ideas will fit in this box, particularly those ideas that impact on other people’s work.

The ‘go, then let know’ box

This is the space you have in your job to create ideas and then apply them without seeking permission to do so. At the start of your new job role it’s likely that very little will exist here, but over time, you should find that the space grows for you to both create and initiate without needing the approval of others to do so. You must be clear where the space is to do this and you should have a conversation with your manager so that you know you are free to do so. ‘Go’ means total freedom, though it is unlikely that you will have too much of this initially until you have earned credibility and trustworthiness.

Example: A good example of how these boxes work occurs in call/contact centres. For many young people working in this kind of environment is a first step in the world of work. In some contact centres a script is given that you are to follow at certain points during a call with a customer. You think you can say it better in your words so you make some changes so that you can be more authentic with customers … less like a machine. It may be that you can – and that your employer sees the script as a guideline. Here we have ‘Go Then Let Know’ or ‘Go’. However, there may be good legal reasons why certain things need to be said in certain ways in which case ‘No Go’ or ‘Yes Then Go’ apply.

‘10 × 10’ (Danger: ‘No strategy’)

10 × 10 is a simple method for assessing the likely impact of your idea using a simple formula. It’s great in risk assessment because it helps you to think through where weaknesses might apply. The formula is:

Idea impact = Strategy × Likelihood of success
OR
99% = 10 × 10

You score a maximum of 99% because nothing is 100% guaranteed even if you do everything perfectly – you can’t remove all risk because you can’t know everything. And right away you should recognise that how you apply this formula will be highly subjective – your own opinion. To reduce your own bias you must involve others – ideas are meant to be shared not kept secret.

TIP

As we shall see later in this ebook, the support and involvement of others is a good way to reduce risk – you take a load off your own shoulders and they can also point out weaknesses in your ideas you may not have thought of (beware idea assassins though). Many older and more experienced workers find it flattering to be approached by younger members of staff. So, if you want to win allies, ask, sincerely for advice: ‘I am thinking of trying X. In your experience, what do you think the problems might be? What hurdles do I need to overcome?’

So, how does it work? Quite simply each of the two dimensions is given a score up to a maximum of 10. The two scores are then multiplied together to give a final score up to 99. The scoring requires application and honesty. Then take the following steps:

Look at your strategy and assess its strength in terms of its quality and systematic thinking. Clearly the score will be low (1–3) if your thinking has been rushed or unfocused. A higher score when rigour has been applied to the development of your strategy.

The same scale applies to likelihood of success. Your major variable within ‘likelihood of success’ will be risk. There is one key element here you must not miss. Your greatest risk is likely to come through the predictability or unpredictability of human behaviour – whether it’s your customers or the people you work with. You can manage and control yourself, but you can only influence others and that creates a degree of uncertainty in predicting success. Say you want to introduce your new idea at a meeting. You know that the majority of the people in the room will be resistant to your idea. This immediately reduces the likelihood of success and your score will be lower.

TIP

You can also reflect on your ‘likelihood of success’ with the added advantage of hindsight. I am sure many people on reflection say ‘I was biting off far more than I could chew’ when things don’t go well. Big goals are great but the way to achieve them best may be in small steps to reduce risk.

Your score
  • Over 80 per cent. Is it time for a reality check? If your score is this high, have another look at your strategy – have your really thought through the issues? Particularly people issues. What is the likelihood of success – is the idea a ‘big’ one in which case the likelihood of success will be reduced? But if, after this re-check you are sure then idea impact is likely to be high. If your idea is routine or mildly evolutionary i.e. a small incremental change then the impact will be as you want it to be. In reality any idea that involves other people is unlikely to score at this high level.
  • 50-80 per cent. Any ideas with strong ‘big idea’ characteristics (see the next section ‘Idea size’) are unlikely to appear here unless they are based on an existing and highly successful idea. Smaller ideas, which involve others are likely to appear here.
  • 30-49 per cent. Some of your bigger ideas will appear here if your strategy is as good as it can be (remember with bigger ideas there will be many unknowns so you just cannot apply a high score to ‘likelihood of success’ even if you have a great strategy).
  • 0-29 per cent. This doesn’t mean don’t go ahead. It just means that to be taken forward, real leadership and a great vision will be needed.

TIP

There are many things you can do to improve your strategy. Here are some of the key ones:

  • Reputation. This is the primary capital for getting your ideas at least discussed, if not accepted. Develop your interpersonal skills, build relationships and work with the skills and reputations of others where you can. Entrepreneurs who think they can ‘go it alone’ are misguided.
  • Idea support. Whose backing do you have? If you need money, talk to your boss and finance people. If you need technical support talk to your boss and IT people. Network wherever you need to but remember that the best networkers don’t just take, they give too.
  • Your head and heart. Are you in love? With your own idea? Love can blind you to what’s really in front of you. Emotional attachment to your idea is important but you must engage the rational side of your thinking so that you assess risk with a clear head.
  • Your vision. Brilliant ideas people may not be brilliant leadership people. If this is you then be honest, it might not be you who takes it forward. Be open to the idea that others offer more in terms of leadership.
Idea size (Danger: ‘Immediate revolution’)

Size does matter. Businesses need big ideas that change things in a big way – the ‘revolution’ that you read about in the first part of this ebook. They also need smaller ideas just as much (the evolutionary 2-D ideas) but these changes will play out at a local level – perhaps only in your own job, or for your team as a whole. It is likely too that the smallest ideas are much less risky than the big ones.

Some of the smallest ideas can be taken up on your own initiative or with just a minimal amount of intervention from your manager. The biggest of course will need to go through the rigours of testing for risk, the criticisms of others, inertia in your own organisation and the passing of time (some ideas, which seem good at a moment in time, become irrelevant as circumstances change). They will also need a lot of support from others and your relationships with others should always be at the forefront of your mind.

Remember too, that just occasionally, what seems a small idea can be revolutionary one. Something obvious (to you), perhaps related to customer service, that fundamentally changes things. So let’s look first at idea size and the differences between them. This is a good testing ground for your ideas and the risks associated with them.

Idea size

When you have an idea, ask if it shows more of the left-hand-side or right-hand-side characteristics. An idea with large-scale characteristics will likely be more expensive, more disruptive and likely to be resisted. It’s therefore more high risk. It doesn’t mean don’t proceed, but it does mean you need to manage relationships, gather support and build your credibility and trustworthiness.

TIP

If you have a big idea you could look at ways of getting quick wins through starting small. If people are likely to resist, suggest a pilot first. In a sales team this could mean picking a small region to target with a product or service. In an IT team it could mean a software enhancement being used in a particular department first. During your career, you’ll come across the word ‘prototype’ (‘iteration’ is used a lot in IT) being used and there’s no reason why you can’t apply its best features to introduce big ideas step-by-step, thereby reducing risk as you go along.

Force-fields (Danger: ‘Of course they’re going to like it’)

As you are relatively new to working life you may only have a vague recollection of the 2007–8 global crash, but you’ll certainly know that its impact continues and will continue into the 2020s. One of the things that puzzled many people during and after the crash was how we got ourselves into a position where economics was treated as a science and economists as though they were scientists. We had started to be believe, because economists had told us this, that if you did a, b, and c then x, y and z would occur because that’s what the theory said would happen (like it does in physics for example). Economic theory however, has not allowed nearly enough slack for the fallibility and sometimes complete unpredictability of human behaviour to be part of the equation. It’s this factor that is the critical element in assessing. Very often people don’t do exactly what we think they will do.

Force field analysis

One of the comments that young people, full of enthusiasm, excited by new opportunities, make when they start a new job is that they find people more apathetic to their ideas than they expected. While it’s true that we all come across apathy from others at work (and the best organisations have the fewest people spreading the apathy virus), it may just be that they see the world differently to you and that what you see is apathy is just simply disagreement. One way of overcoming this, in advance, is to see that your persuasive arguments are merely one way of seeing the opportunity you have generated, but that there will be opposing arguments building a force against you. These opposing arguments are likely to come from others, but they could just as easily be things like budget restrictions and wider disruption your idea could generate.

The advantage of force field analysis is that you can either make the decision that the opposing forces are too strong or that if you work at the opposing forces e.g. strengthening your idea, using better persuasion techniques, reducing costs, that you increase the chances of success and therefore reduce risk. It’s a great way to identify weak points and work on them. So, how does it work? Here is a visual example, and following this is a description of what’s happening.

Example

One issue a lot of organisations grapple with is the overuse of email – people have stopped talking to each other. A 2-D idea you have had is to recommend an email-free day every other Friday, because you have a friend who told you that her employer has started doing this and it’s had some success. This isn’t a classic ‘entrepreneurial’ initiative but it’s a usual guide to the kind of thinking needed. So, you do a simple force field analysis to assess the strong/weak points in your own argument. It might look like this:

Example

You will notice that there is a number beside each driver and resister. This score relates to the force with which each one either drives the result you want or acts against ‘resists’ the result you want. 5 indicates the strongest force, with 1 the weakest. Add up the scores on each side and see what the score is. In this case the score is 27–24 in favour, but clearly there are significant resisters, and you will need to address these before you decide to go ahead. Work on the highest score resisters to bring them down.

TIP

I have chosen this as an example because it shows how important the people factors are in any change. For example if you work in an IT department and you’ve got a development idea, you cannot just impose your idea on people on the basis that ‘We are IT, we know what you need’. Work with people, dealing with their objections. Be prepared to develop your idea to meet these objections and reassure about available support.

POTENTIAL PITFALL

In ‘force field’ analysis and ‘10 × 10’ we’ve used mathematical tools to help assess risk and possibility of failure. These are what we refer to as the rational ‘head’-based methods. But you must listen to your heart too. A common pitfall is not to use intuition enough. What do your instincts tell you about what’s risky? What comments from others might you be ignoring? Perhaps you are blinded a little by your desire to succeed?

In a recent study of young people, ‘being true to myself’ came out as the most important thing in young people’s lives. Perhaps it’s the same for you? Few of us know what that really means (even this 50-year-old writer still hasn’t quite got there yet!), but even if we don’t know what ‘true to myself’ is we have a good idea when we’re going down a path that doesn’t feel right.

People (Danger: ‘Hell is other people’)

People factors have been mentioned regularly in the second part of this ebook. Although the focus of this ebook has been you personally, the truth is that the future of your organisation is in the hands of many. Future-focused conversations are taking place all the time. You are having them yourself – in your own head and with colleagues. Rarely do we act in isolation, so your consideration of ‘people factors’, the development of mutually supportive relationships, should always be at the front of your thinking. Without collaboration and support you dramatically increase the risk of failure.

Empathy

People can be the greatest accelerators or the greatest consumers of your own energy. Taking a ‘we’ rather than ‘me’ approach – climbing into other people’s thoughts, feelings, beliefs, wants and needs will significantly increase the power at your disposal to have ideas that succeed. You must listen and ask questions of others if you want to reduce the risk that others kill your ideas before they’ve got to the launching pad.

Questioning

Here are some examples of the kinds of questions you can ask as part of your people-centred approach:

  • ‘I’m trying to do X. What are the key issues for you?’
  • ‘How would this affect the work of your team/department?’
  • ‘What would you like to see happening?’
  • ‘How might this work for you?’
  • ‘What do you see as the challenges?’
  • ‘What do you think we could do to overcome this hurdle?’
  • ‘I am trying to do “X”. What would you do in my situation?’
  • ‘In your opinion…?’
  • ‘You’ve had some experience of this. Has anyone tried to do something similar before? What happened?’
  • ‘Can I be sure that I’ve understood you right? Are you saying …?’
  • ‘I’d like to ask you more about that specific point?’
  • ‘So, the key issues for you are …’
Listening

Some of the questions above are designed to illustrate that you have been listening to people and that you understand what they are saying. People need to know they have been heard. These are key points for you to remember when listening effectively:

  • Be genuinely curious about what other people think and feel.
  • You cannot listen properly if your mind is occupied with preparing a reply. Turn down the volume on your inner voice.
  • Leave your feelings about others to one side – be neutral.
  • Good listeners really listen rather than jumping on the first thing they agree or disagree with – so hold back until you have the full story.
  • Try to relate what you say to the world of the person or people you talk to rather than your own. If you’ve asked questions and listened properly.

TIP

See each person as a free consultant who can help shape, improve, freshen up and enliven your ideas not as a block to them.

POTENTIAL PITFALL

Only asking the opinions of people who think in the same way as you (no matter how tempting) risks not having your ideas properly examined and tested. Talk to people ‘not like me’ as well as your likely allies.

Checklist

  • Are you clear on where you can act with permission and where you can’t. Identify the areas of work where it will be dangerous to change things and areas of work where its essential. Where can I act? Click here to review.
  • Have you thought your strategy through properly? Use the 10 x 10 approach to help you think more deeply about your strategy and whether it needs strengthening. Give your ideas the best chance by given them a bit more time and thought. 10 × 10, click here to review.
  • Are you a revolutionary? The biggest ideas are likely to be the most revolutionary but also the most risky. That’s ok – the world would never change without revolution but revolution comes with danger. Idea size. Click here to review.
  • Have you thought through the opposing forces that might compromise the impact of your idea? Force-field. Click here to review.
  • Have you considered the people factors? Without the help and support of others you will fail. People. Click here to review.

Conclusion

Everyone is different. You and I express ourselves in many different ways. What unites us is that we are all capable of having great ideas and indeed we have them all the time. There can be immense satisfaction is having an idea at work, carrying it through to action and the seeing your idea make a difference. 80–100,000 hours is the amount of time you will spend ‘working’ in your lifetime and that’s a long time to not be trying something new. So why not engage the creative side of yourself now and start out on the journey of a more fulfilling and productive working life?

Success

You know this is working for you when:

  1. Managers and colleagues proactively ask you for ideas and suggestions
  2. You are able to experience some of your ideas play out for real even if they have been adapted and developed over time
  3. You become more ‘primed’ for idea generation. New ideas ‘pop’ into your head all the time
  4. You find yourself encouraging others to do the same
  5. You workplace relationships improve because of your relationship-building mindset
  6. You make progress in your career

Note: Readers who want a more in-depth study of being entrepreneurial as an employee might like to follow this ebook up with a look at my books Brilliant Idea (Pearson Business 2007) and Brilliant Personal Effectiveness (Pearson Business 2015) which develop many of the ideas in this ebook. Readers who are contemplating developing their own businesses in the future – and many intrepreneurs will become the entrepreneurs of the future – might like to take a look at my earlier book Make Your Own Good Fortune (BBC Active 2006). I would like to credit Mark Brown of the Dolphin Index for the four boxes and the three dimensions.

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