Our research has found that those business founders with a high Innovativeness Index produce dramatically more value, based on common measures of business outcomes. Their ventures were less likely to fail and more likely to show large returns. In a study conducted in cooperation with the Ewing Marion Kauffman Foundation, we examined the performance of hundreds of entrepreneurs. When those who scored highest on the IM scale were compared to those who scored lowest, the high scorers averaged 34 times as much profit, 70 times as much revenue and employed 10 times as many people. That’s no small effect!
If your goal is to create new value, for yourself and your customers, understanding your own mindset is essential. Yet much of what drives our attitudes, beliefs and choices is subconscious. Innovator Mindset® will give you the feedback you need to understand where you may already be innovative, where you may have gaps and what adjustments to make to maximize your value creation.
Having an Innovator’s Mindset® is like being skilled at poker. You don’t choose the cards you are dealt—the challenges you face or the setbacks you may encounter. But you can learn how to play your hand to maximize your winnings. You can develop a mental framework that will enhance your personal effectiveness and likelihood of success. It is possible to adjust your mindset in ways that will make you more insightful, imaginative, self-ware, courageous, resourceful and astute in how you solve problems and face challenges. In other words: more innovative…and no one attribute is more crucial to your success in a new venture.
A substantial percentage of startups fail, many more fail to meet expectations and only a few are exceptionally successful. You can try to beat those odds—or you can shift the odds in your favor. You determine your mindset and you can choose to change it.