Introduction
“How do I find innovative people for my organisation? And how can I become more innovative myself?”
These are questions that perplex Indian entrepreneurs, who understand that innovation is the key to business success. India’s vibrant and rapidly growing entrepreneurial landscape is fueled by visionary individuals who have carved their names in history as game-changers. From the trailblazing vision of Ratan Tata to the relentless innovation of Flipkart’s founders, Indian entrepreneurs have proven their mettle on the global stage. But what makes them different? How do they come up with groundbreaking ideas that disrupt industries and create value for society?
In our quest for answers, we embarked on an in-depth study to uncover the origins of creative and disruptive business strategies among particularly innovative Indian companies. Our goal was to examine the habits and thought processes of 25 Indian entrepreneurs, as well as survey over 3,000 executives and 500 individuals who have founded innovative startups or launched new products.
We discovered that, unlike many top executives who delegate creative work, a significant percentage of Indian entrepreneurs—around 15%—actively engage in the creative process themselves. They take personal responsibility for innovation and cultivate a unique set of discovery skills that set them apart from the rest.
The Innovator’s DNA: Cultivating the Five Discovery Skills
Associating: The backbone of the innovator’s DNA, associating involves successfully connecting seemingly unrelated questions, problems, or ideas from different fields. Indian entrepreneurs leverage their diverse experiences and knowledge to make fresh connections, sparking new insights. Just as the Medici family brought together individuals from various disciplines in Florence, Indian entrepreneurs create breakthrough ideas at the intersections of their expertise.
Questioning: Indian entrepreneurs challenge the status quo by asking “Why?” and “Why not?” They don’t settle for existing processes but seek to reimagine possibilities. By imagining opposites and embracing constraints, they stimulate truly original insights and uncover unexplored opportunities.
Observing: Much like anthropologists and social scientists, Indian entrepreneurs carefully observe the behaviour of potential customers and competitors. These keen observers analyse small behavioural details, gaining valuable insights that lead to innovative solutions. By scrutinising common phenomena, they find uncommon business ideas.
Experimenting: Indian entrepreneurs treat the world as their laboratory, actively trying out new ideas through prototypes and pilots. They are not afraid to fail; in fact, they embrace experimentation as a means of learning and growth. Amazon’s Jeff Bezos famously said, “I’ve made billions of dollars of failures at Amazon.com. Literally.”
Networking: Indian entrepreneurs extend their knowledge domains by actively seeking diverse perspectives. They connect with people from different walks of life, attend idea conferences, and engage with those outside their industry or field. By doing so, they gain radically different perspectives that fuel their innovative spirit.
Cultivating Innovation: The Indian Entrepreneur’s Journey
While creative intelligence may come naturally to some, it can also be developed and honed through practice. Indian entrepreneurs can actively cultivate these discovery skills to unleash their innovative potential. Emphasising questioning and asking “What if?” can turbocharge other discovery skills, leading to fresh insights.
To sharpen observation skills, Indian entrepreneurs can spend time watching how customers experience products or services in their natural environment. Engaging in diverse experiences, travelling, and note-taking can open new perspectives and encourage innovative thinking.
Experimentation is a powerful tool for Indian entrepreneurs. By adopting a hypothesis-testing mind-set, they can actively explore new ideas and approaches. Embracing a culture that values experimentation and learning through failure can foster an innovative spirit within their organisations.
Networking is key to gaining diverse perspectives and extending knowledge domains. Indian entrepreneurs can reach out to creative mentors, hold idea lunches with individuals from different functions or industries, and attend conferences that bring together thought leaders from various backgrounds.
Indian entrepreneurs have already demonstrated their ability to innovate and disrupt markets. By understanding, reinforcing, and modelling the innovator’s DNA, they can foster a culture of creativity and empower every team member to contribute to the growth and success of their ventures.
In conclusion, the DNA of Indian entrepreneurs reflects the power of creativity and innovation. By embracing their unique discovery skills and nurturing an environment that encourages experimentation and diversity, Indian entrepreneurs can continue to lead the charge in revolutionising industries and shaping the future of business in India and beyond.