Loonshots

Loonshots explores the process of innovation, specifically how groundbreaking ideas emerge from simple thoughts and how important it is for organizations to give course to them by creating learning environments where people feel safe exploring and creating.

Nokia was a pioneer in the mobile phone industry, but it soon lost its innovative edge as it became more conservative about new ideas and products. Apple is a great example of how being creative can pay off: since its launch in 2007, the iPhone has become one of the most successful products of all time.

As Nokia became more conservative and stopped innovating as much, they saw sales and profits decrease. Similarly, during World War II, America failed to pursue Leo Young’s innovation of radar. They knew about it but didn’t think it was necessary at the time because they were focused on other things.

However, because they failed to acknowledge how it can help them spot enemy ships and planes, Pearl Harbor happened. The lesson here is that sometimes risk-averse companies are the ones to lose big in the end. Successful organizations know how to manage risk, while also betting big on innovation and fostering it.

The public conception is that innovators are lone-wolfs, probably native geniuses who find it easy to innovate. While in some cases this might be true, the truth is that innovators are oftentimes people like me and you.

What sets them apart and gives them the opportunity to create and perfect their craft are other people who offer the resources they need.  The first rule you should know if you’re managing these people is that innovators are crucial for your business’s future development in new and emerging markets.

The second rule you should know is that those who take care of what’s already going well in your company are the breadwinners of today. They are the pylon that sustains your current business activities. They’re equally important, as Steve Jobs found out after being kicked out of his own company.

Thirdly, make sure to keep the relationship between the two parties well-maintained. A company has a low chance of surviving in the competitive business world if they have troubles internally. Act as an intermediary and make sure that both sides know each other’s value.

As long as there are more doors to knock on, loonshot ideas still have a chance to surface. Just like once-in-a-lifetime occurrences, such as some falling stars, major historical events happening, or Einstein being born, loonshot ideas often get a short lifespan before disappearing for good. Loonshots are the ultimate expression of creativity and innovation. They’re often risky, but they can also be game changers. You don’t have to look far to find…