"When trying to achieve success, we tend to rely on logic," says Frans Johansson, author and CEO of The Medici Group. "But logic doesn't give you a competitive advantage. If you rely on logic, you and all your competitors will end up in the same place."
Through his study of innovation and transformative ideas, Johansson concludes that "success is often random and serendipitous—it happens at 'the click moment.' If success is so unpredictable, can we really plan for success?
"The purpose of strategy is not to figure out the right answer," Johansson says. "The purpose of strategy is to convince ourselves to act."
Johansson gave conference attendees this to-do list:
Borrow an idea from another industry. "All new ideas are combinations of existing ideas."
Try far more ideas than others, a recipe for people who change the world. "Your job is to bring down the cost of those trials."
Make sure you're adequately staffed for innovation.
With the first of four debates between presidential and vice presidential candidates kicking off Monday night, CUNA is launching the next phase of its "Strong Credit Unions. Strong Middle Class" campaign, allowing stakeholders to share the credit union message.
CUNA continues to push for a delay in the Department of Labor’s overtime rule so the agency has time to fully assess the impact the plan would have on credit unions, especially smaller ones and those in non-metropolitan areas.