Jay Rao is a colleague who’s worked to solve thorny innovation problems with thousands of corporate practitioners over the years. He was also a key contributor to the book, and helped push our thinking around how entrepreneurial leaders address business uncertainty.
As Jay points out in the book:
Since innovation work is done in an unknowable environment, it demands that an entrepreneurial leader engage a cognitively ambidextrous mindset in which one cycles between a creation approach of acting and a prediction approach of learning from the data that are created during the action. Innovation occurs as entrepreneurial leaders start small with the resources at hand and rapidly create prototypes to generate new data and new ideas. They are able to minimize risk by failing fast and cheaply, learning quickly, and rapidly changing directions when reality does not match assumptions. Using their cognitively ambidextrous mindset, entrepreneurial leaders experiment, succeed, fail, and learn.
In the video, Jay and I discuss this theme of how entrepreneurial leaders shape opportunity in uncertain business environments using creation logic.