Innovation Driven Growth: Recent Episodes
David L. Peterson
The Innovation Driven Growth podcast is hosted by fintech pioneer, entrepreneur and author, David L. Peterson, and features interviews, insights, and ideation focused on how to unleased our inherent creativity to produce Innovation Driven Growth. Each episode is about igniting strategic innovation in work and life—no matter your skill set or job title.
You can elevate your level of service with the way you use data mining. Targeting customers with suggestions and recommendations based on mined data needs to be done paternalistically and carefully to avoid being seen as creepy. The goal is to offer a higher level of service that maximizes convenience and personalization, but these personalizations must be communicated appropriately. If you have the customer's best interest at heart, find out how you can better serve them by utilizing data mining.
🧑🏫 David teaches a banking technology class at the Graduate Banking School at the University of Colorado: he helps them understand what kinds of decisions they'll make as senior executives in terms of evaluating and understanding technology. 00:58
4️⃣ Data mining can be used in many scenarios: David shares four examples. 02:54
👉 The creepiness is not how we feel about doing something, but how the customer feels. 05:43
🏦 Financial institutions can get very granular about how to use customers' data and behavior to provide a very high level of personal service: creepiness is in the eye of the beholder. 07:02
🤝 What banks could do with the data is likely paternalistic: it's all about benefiting the customers. 10:59
🗣️ How we communicate defines what's creepy. 12:36
❓ A key question that we have to ask is, “What is the desired outcome for which this data mining is to occur?” 14:31
✅ What most of us think is creepy is likely applied to older customers, particularly baby boomers or super seniors: younger generations expect you to use their data to provide highly personalized service. 15:31
🙂 Don't show the same ads to everyone - personalize the customer experience. 16:53
Links:
Blog post: www.bankers-bank.com/lessons-from-gsbc-whatever-we-do-we-cant-be-creepy
Email David: david@davidpeterson.com
Connect with David: www.linkedin.com/in/dlpspeaks
Learn more about David: www.davidpeterson.com
Consult with David: www.i7strategies.com
Sail with David: www.i7sailing.com
The SWOT analysis tool is an excellent way for your business to take advantage of opportunities. It's critical to regularly assess your business in order to be competitive in your market. By analyzing your strengths, weaknesses, opportunities and threats, you can develop crucial offensive and defensive strategies. When done right, you can minimize the damage from external sources and find great opportunities to invest in. Take strategic control of your business, and focus on the "O!”
Notes:
🟦 SWOT represents Strengths, Weaknesses, Opportunities, and Threats: the purpose of SWOT is to understand the interplay of the organization's internal capabilities with the external activities or entities that might interact with that organization. 01:00
👍 The process should accurately represent the organization's strengths and weaknesses: we can assess strengths and weaknesses without being ugly to each other. 02:42
📋 It's critical to carefully brainstorm the opportunities and threats to get a realistic list of what they are: there is absolutely no benefit of overstating or understating them. 03:55
✅ When you combine each of the four quadrants, the organization can determine a series of offensive or defensive actions or strategies, make targets, and prioritize. 04:46
🏦 From an innovation standpoint, any of those four SWOT alignments could be the target of a creative idea: some financial institutions are still making decisions about how overdrafts fit into their long-term future - that falls right into the SWOT analysis. 07:18
😀 Focus on opportunities first: David shares examples from the Financial Services realm and several others. 09:51
🔷 Securing against threats is important and should not be ignored: if you're not in the habit of getting innovative ideas out in the open across your enterprise, focus on The “O.” 11:15
Links:
Where will you get Innovative Ideas: www.bankers-bank.com/where-will-you-get-innovative-ideas
Email David: david@davidpeterson.com
Connect with David: www.linkedin.com/in/dlpspeaks
Learn more about David: www.davidpeterson.com
Consult with David: www.i7strategies.com
Sail with David: www.i7sailing.com
To think outside the box, you have to know what the box is. Change your perspective on what the main focus of your business is, and start to think outside the industry norms. When you shift the perspective of the services you provide, this changes the branding of your business, so you can deliver a more profound and appealing message to your customers. Get outside your comfort zone and change the dynamic of your box!
🤔 We need to know where we are if we're going to challenge ourselves to get out of the box. 01:16
🧑💼 Banking is a transaction-focused business, so banks have trained their people to execute transactions with an extremely high level of proficiency and professionalism. 03:16
❓ How would our thinking change regarding services if we don't focus on transactions? 05:26
🏦 A bank's primary focus could be targeting, identifying, and establishing customers' goals and dreams: ask each manager that reports to you to come up with an example of a goal or dream that a typical customer would have. 06:12
❗ Start a conversation about the value of moving your business focus away from a transactional one: change focus and start the hard work of change of your institution's branding. 08:35
📤 It feels comfortable to stay within our industry norms, but radical changes are coming: Are you ready, willing, and able to get out of your box? 10:57
Links:
Link to Previous Episode: ADD LINK
Link to The Episode About Goals And Dreams: 37. What do you do? – And How Bankers Should Answer That Question
Email David: david@davidpeterson.com
Connect with David: www.linkedin.com/in/dlpspeaks
Learn more about David: www.davidpeterson.com
Consult with David: www.i7strategies.com
Sail with David: www.i7sailing.com
Thinking outside the box is essential for cultivating innovation in the workplace, and sometimes the craziest ideas can lead to the best results. When we can escape the limitations that we often think with, it can lead to profoundly creative solutions. Exercise your ability to think outside the box and produce ideas in great volume to achieve success!
📤 Thinking outside the box is to explore ideas that are creative, unusual, and not limited or controlled by rules or tradition. 01:22
🧩 We assume the solution to the puzzle is contained inside the box: there is no box. 03:48
🧠 The key to the puzzle is overriding our brains' tendency to be constrained to predetermined boundaries. 05:55
🧒 Put yourself in a mode of out-of-the-box thinking by changing your thinking space, getting a different perspective, and talking to kids - the most creative people on the planet. 06:58
📦 You can play thinking games and practice reverse brainstorming to step out of the thinking box. 08:10
📣 Getting creative is a volume exercise. 09:52
👍 If you have a question about creativity and innovation, reach out to David, and he will get back to you as soon as possible. 10:38
Links:
The Diagrams for Thinking Outside the Box: www.bankers-bank.com/think-outside-the-box
9-Dot Puzzle: Sam Loyd’s Cyclopedia of 5000 Puzzles, Tricks, and Conundrums with Answers
Email David: david@davidpeterson.com
Connect with David: www.linkedin.com/in/dlpspeaks
Learn more about David: www.davidpeterson.com
Consult with David: www.i7strategies.com
Sail with David: www.i7sailing.com
😒 Presentations in the financial services industry are just kind of - boring. 01:41
👍 Spice up the class - "Four horsemen educating" - fun and high quality. 02:42
💲 When teaching in person, use dollar bills from your pocket. 05:21
🤡 Self-deprecating humor makes the whole mood lighter. 06:37
😹 Humor often comes in 3 parts where the last one doesn't fit in. 07:27
✅ Irony works. 08:26
👨🏫 The presentation should have more engaging content, especially for younger generations. 09:31
🖱️ Company Lemonade LXP provides engaging education to frontline staff that empowers them to be better sales advocates for banking services. 10:36
🎮 Gamification is huge in meeting your internal education goals. 11:43
Links
▶️ Previous episode: https://m8r.io/IDG-ep27
🎮 Lemonade LXP: www.lemonadelxp.com
📧 Email David: david@davidpeterson.com
🎯 Connect with David: www.linkedin.com/in/dlpspeaks
✅ Learn more about David: www.davidpeterson.com
👨🏻💼 Consult with David: www.i7strategies.com
⛵ Sail with David: www.i7sailing.com
🚜 All bank loans are secured by some kind of collateral, and it’s usually equipment. 00:47
🧠 Banks run on a different type of “machinery” - the human capital also needs maintenance. 02:16
👨💻 Job-specific education and certifications: look at each employee and determine what training and/or certifications may be appropriate. 03:39
💼 General/industry education: ICBA annual conference in San Antonio was educational “maintenance” for David Peterson. 06:15
📱 Product/service knowledge that enables better customer service. 08:25
⚡ The power of having an education component on the annual review: budget employees can spend on wished courses or education. 09:56
Links
📩 Email David: david@davidpeterson.com
🤝 Connect with David: www.linkedin.com/in/dlpspeaks
🙂 Learn more about David: www.davidpeterson.com
👨💼 Consult with David: www.i7strategies.com
🕵️♂️ Always be looking for places where you can learn about what's going on in your business. 00:57
😷 The customer can be adequately served while working remotely: COVID pandemic forced financial institutions to shut down all of their branches. 01:14
😕 Intangible skills sometimes make employees excellent candidates: the workforce is unprepared for changes in the future. 02:27
☀️ Moving from transactions to engagement: having younger employees, having engagement activities. 04:24
✨ Get the right people on your team: people who possess humility, hunger, and smarts. 06:00
🏦 Worked in a daycare facility but was hired in a bank? 08:30
👉 Enthusiasm cannot be taught, but it can be caught: retaining a millennial in the workforce. 09:36
💎 What makes younger millennials and Gen Z's think so differently: a few tips to Baby Boomers. 11:27
🙌 Tips to Gen X’ers leaders: how do you feel about tattoos? 13:05
😎 Key Advice To Millennials / Gen Zs: the label on your generation. 13:46
▶️ We all can learn from each other but it will take a few years, so let’s start right away. 16:21
Links
👆 Article 1: www.tinyurl.com/IDG-26-article
2️⃣ Article 2: https://tinyurl.com/IDG-article2
🖼️ Graphic1: https://prnt.sc/BszawrIjv1HG
✌️ Graphic 2: https://prnt.sc/HyMvPamcbD3x
🧠 X=Y thinking: https://davidpeterson.com/millennials-yx-thinking/
📩 Email David: david@davidpeterson.com
🤝 Connect with David: www.linkedin.com/in/dlpspeaks
🙂 Learn more about David: www.davidpeterson.com
👨💼 Consult with David: www.i7strategies.com
🤔 How important is your virtual business or branch? 00:53
📊 Dilemma in the business: Decreased branch activity or rise in online activity. 02:19
🌟 When your system shows what I’m talking about over and again: online customers represent significant cost savings. 04:11
📈 But people still use physical branches: how to get an accurate picture of activity breakdown and revenues? 05:39
👉 Overstating the profitability of all your physical branches: Defining your virtual organization's revenue is crucial. 07:27
Links
🎧 Part 1 episode: https://m8r.io/IDG-Virtual-Branch
📩 Email David: david@davidpeterson.com
🤝Connect with David: www.linkedin.com/in/dlpspeaks
🙂 Learn more about David: www.davidpeterson.com
👨💼 Consult with David: www.i7strategies.com
🏦 Most financial institutions don't actually track the virtual branch in the same way as the physical branch. 00:50
💸 Why do some banks see only expenses in virtual branches and profit in physical branches? 02:04
😵💫 Why investing in virtual branches is very difficult for the C-Suite: risk and ROI. 3:21
🤕 Determining the overall profitability of a virtual branch and getting accounting systems in alignment is not easy. 05:20
Link
Connect with David: www.linkedin.com/in/dlpspeaks
😤 Thinking about banking as a dry-cleaner shop: no one complains about fees at the dry-cleaners. 01:13
🔔 Bankers failed to show the value of the services they provide to customers. 2:50
🆓 Banking services and word free were used together for years. 3:47
🎯 How do you drive the story of value to your customers? 05:46
Link
Connect with David: www.linkedin.com/in/dlpspeaks
👉 David became a Chief Innovation Officer of FNBB: he started with 10 innovation workshops. 00:48
🧑💻 Change in demographics: millennials and Gen Z's have unique banking needs. 01:49
🧐 What are the benefits of innovation? 02:38
🤩 6 reasons you should innovate. 3:07
⚡ New business potential energy in the company. 03:12
📈 Innovation will enable the growth of your business. 04:00
💪 Innovation will make your company more efficient. 04:53
🌟 Innovation will help you create an innovative brand. 05:24
💲 Innovation will help your company in attracting more customers. 06:01
👔 Innovation will help your company in attracting a better workforce. 06:42
🧠 Think about the challenges organizations might face in the coming years. 07:29
Connect with David: www.linkedin.com/in/dlpspeaks
Link to mentioned article: https://www.entrepreneurshipinabox.com/8479/6-reasons-you-should-invest-in-innovation/
👉 Impact of cognitive biases on decision-making. 01:01
✌️ Cognitive biases help us with Information overload, otherwise, it would be impossible to function. 04:07
🧐 The numbing effect of routine or the curse of knowledge. 05:51
👨✈️ The more experienced you are, the more you're likely to be on autopilot.
2️⃣ Two types of cognitive biases: information processing and emotional. 09:17
🤓 A three-step process to get debiased. 11:53
😎 Things you say can trigger you and show you are actually working on a bias. 13:22
🤔 How to overcome and deal with specific bises? 15:54
✳️ Confirmation bias. 17:01
😉 Conformity bias. 19:00
👂 Ambiguity bias: "The best decision you can make is the right decision. The next best decision is the wrong decision. And the worst decision is no decision." 22:39
🐟 "The opposite of courage is not cowardice, it's conformity. Even a dead fish can go with the flow." 27:14
🌞 Lateral thinking, innovative thinking, tools, and methods to overcome biases. 28:19
🙃 The reverse brainstorming frees all ideas out. 32:24
👀The article mentioned: www.boardofinnovation.com/blog/16-cognitive-biases-that-kill-innovative-thinking
🎩 Six Thinking Hats: https://www.mindtools.com/pages/article/newTED_07.htm
⌨️ Steve Ballmer on iPhone: www.youtube.com/watch?v=eywi0h_Y5_U
🔗Connect with David:
💥 david@davidpeterson.com
🗣️ www.facebook.com/DPSpeaks
📖 David’s book Grounded - www.davidpeterson.com/book/grounded
😊 Kevin's background and the story about a bad hire day. 02:23
🤯 Making innovative culture interesting: Putting bank regulations in a song "No sleep till Brooklyn, by the Beastie Boys". 05:11
🧐 Consumers are coming to the salesperson more educated about products and services than 20 years ago. 08:06
🔬 Sales professionals now have to know all about the industry, research trends globally, and expand their knowledge base a lot. 09:56
😅 ArgosRisk technology solutions for B2B credit risk management, enabling companies of all sizes to proactively manage and monitor risk. 11:50
🕵️♂️ ArgosRisk and daily third-party vetting - checking out on another business. 14:14
🩹 China syndrome and having only a yearly report of your business partners. 16:23
👍 Having a daily financial report of business partners during pandemic helped ArgosRisk's clients so much.19:02
🎯 How innovation is played out in ArgosRisk evolving? 27:12
🤖 The level of insights that allow businesses to make more informed decisions on who to do business with will expand in the future. 32:42
🪡 Allowing people to use your products, data, and services, tailored is pretty important.40:09
⚠️ Every kid coming out of college is should read the book Innovator's dilemma 43:28
😎 Looking for ideas on how to innovate? Learn from professionals and join product camp.org
🤩Three nuggets Kevin shares. 46:56
🙃 Gold Leaf's library of funny innovative videos. 49:09
😇 www.argosrisk.com
🙃 www.linkedin.com/in/kevinsasser
📚 www.amazon.com/Innovators-Dilemma-Revolutionary-Change-Business/dp/0062060244
💻 www.productcamp.org
🎥"The China Syndrome" film - www.imdb.com/title/tt0078966
🔗Connect with David:
💥 david@davidpeterson.com
🗣️ www.facebook.com/DPSpeaks
📖 David’s book Grounded - www.davidpeterson.com/book/grounded
🎸David played background music for Linda Baskin’s art show in Dayton. 01:14
🖼️ Stepping out of the comfort zone: Linda's paintings had a theme and the show had its own concept. 04:52
🎯 Professional artist and professional musician. 07:39
🙋♂️ Welcome, Linda! 09:12
🎨 The Radical Acceptance art show was about acknowledging the hard times in life but also good, joyful things. 11:29
😃 Linda decided to start painting just 18 months ago. 15:36
🌸 One more example of Linda's stepping way out of her stepping zone. 18:04
🌞 Not knowing everything is the most important to step out of the comfort zone. 22:18
🖌️ Painting 'Faces' was the only painting at the show that was not for sale. 25:01
🧪 Linda's formula for creating a great product. 28:53
🤓 The difference between innovation in a flash or an inspiration of genius, and experimental or interpretive innovation. 35:19
🤩 Cézanne an experimental painter vs. Picasso's flash of inspiration 38:40
🖍️ Linda is Picasso. 43:03
🔥 Be a Picasso or a Cézanne, just don't give up. 43:43
Painting 'Faces': https://postimg.cc/RN9Nf63n
Bodazza Studios
https://www.bodazzastudios.com/
Malcolm Gladwell – Revisionist History – Hallelujah episode
https://www.pushkin.fm/episode/hallelujah/
Connect with David: david@davidpeterson.com
Linda Baskin painting: https://prnt.sc/1017orl
Link to David’s book Grounded - https://davidpeterson.com/book/grounded/
😇 Aviv likes to wake up in the morning and try to solve a problem that nobody else is trying to solve.1:50
👦 He was inquisitive as a child and asked so many questions. 2:56
🌞 The idea behind Solar Simplified. 5:02
✅ Aviv was not in the solar business before, but he was drawn to it.
🤝 Solar Simplified connects consumers with solar power plants (solar farms) 8:21
➗ Half of the countries in the US have deregulated markets where private companies are part of the market. 11:08
🔆 Even it is a young company Solar Simplified serves over 1000 households and growing in upstate New York.19:26
☀️ How Solar Simplified works? 20:21
💰 How to get a guaranteed discount on your energy bill? 21:33
⭐ In recent Texas events, a megawatt per hour price increased about 500 times more than what it should be. 25:39
💡 The three major challenges in sharing the green wealth with society. 28:53
😎 Bill Maher issues with getting solar energy and how Solar Simplified would help in that case. 31:23
💚 Solar Simplified has an idea to be green and save money too as many people as possible in the future 5 years. 35:32
👍 Continue asking questions, continue to be curious, and learn what money is and how the system really works. 37:53
🖥️ Take a minute to sign up on a Solar Simplified site so we can spread our network and save you money. 41:48
https://solarsimplified.com/
https://www.linkedin.com/in/avivshalgi/
https://www.facebook.com/solarsimplifiedusa
https://www.instagram.com/avivshalgi/?hl=en
😂 Gatherings with my sister Linda and brother Larry are always filled with fun, jokes, and love.
🎨 My sister Linda is an amazing painter. 3:06
🖼️ Linda Baskin Art Show preparations. 5:35
🎶 David is going to do background music for Linda Baskin’s upcoming art show on March 27th. 6:15
🎸 David Musical background – learning to play guitar is not easy. 8:17
🎼 David has never performed a “concert” alone, but he embraced music from his college days until today. 11:09
👌 Popular music sets an “expectation” of what those songs are supposed to sound like. 15:06
🤔 David's book Grounded. Word Grounded has positive and negative meanings. 19:52
😨 We get stuck in our comfort zone because of fear of failure, or fear of embarrassment. 24:38
👣 4 steps to get out of your comfort zone. 26:50
🌠 Wisdom from Roger von Oech - Whack it! 31:16
👆 Get support and get rid of excuses. 33:44
💪 Flesk your risk muscle. 34:27
🗓️ Set a deadline and Be Persistent. 36:12
Connect with David: david@davidpeterson.com
Linda Baskin painting: http://prntscr.com/1017orl
Linda Baskin Show: https://prnt.sc/109ml4j
Link to David’s book Grounded - https://davidpeterson.com/book/grounded/
Wisdom from Roger von Oech – “Whack on the side of the head” - shorturl.at/lvQVX
🛫 Ryan is an ex-naval flight officer and after the military, he started working in the banking niche. 1:01
🚖 Driving for Uber and Lyft after the military was an amazing experience in gig working and gig economy for Ryan. 3:03
💵 Gridwise app is focusing on the ride-share and delivery area of the gig economy by helping drivers boost their profits. 4:34
🙃 When Ryan worked as a gig driver, he realized that the core problem is in the fragmentation and inaccessibility of key data drivers need to have. 09:08
👦 Ryan was intrigued with sales from a young age, and he continued with his entrepreneurial ideas in sixth grade too. 12:27
✨ What can you do to affect the young population and spark innovative and entrepreneurial thinking in them? 14:03
📱 How GridWise was made, and how the app succeeds to answer all needs drivers have. 18:13
😇 Gridwise app helps, even with estimated tax deductions for drivers, and it is free. 24:06
🛣️ Marketing for the app started from personal advertising all the way to digital advertising channels. 29:01
📊 Harvesting metadata and analytics from the app are valuable for other stakeholders but also a significant source of new revenue income. 30:53
📅 About the future of gig drivers. 35:14
💲 Gridwise will help drivers earn more profit directly from their platform in the future. 37:40
📈 In five years from now, Ryan plans to add more insurance products, financial services, income protection, phone protection, in healthcare and other benefits to his app. 39:04
🔥 Ryan's advice for future entrepreneurs. 45:30
✌️ Do not forget to tip service drivers in these hard times and mention Gridwise to help them even more. 49:07
Links
https://gridwise.io/
🔗Connect with David:
david@davidpeterson.com
https://www.facebook.com/DPSpeaks/
🤯 A large number of products were discovered by a mistake. (Roundup, Play Dough, Men's Rogaine etc) 1:04
🙈 Why are we so afraid of failure? 5:26
🙃 Being A student or F student: Being a successful innovator means you have to have a ton of bad ideas. 9:11
✌️ Start off by thinking failure is good and don't let anybody limit your ability to come up with an idea.12:00
👀 People who come up with ideas will get noticed by time. 13:42
☝️ There is a big difference between error in innovation and error in execution. 15:17
🤓 Success can create additional problems. 18:49
😲 Success can breed overconfidence. 23:15
🔴 What happens if you get stuck in the 'Numbing effect of routine' with no adjustments of processes? 26:04
🔎 Examining the effects of a new idea or project, especially negative effects. 28:00
🙋♂️ Be boldly ready to raise your hand and offer up an idea. 31:49
📘 Book 'A Whack on the Side of the Head'
:https://www.amazon.com/Whack-Side-Head-More-Creative/dp/0446404667
📚 David's book 'Grounded!'
: https://www.amazon.com/Grounded-David-L-Peterson/dp/1944340009/r
👨🌾 Farmers are experiencing all challenges related to a business, plus they have soil and weather issues. 1:11
💻 Justin Fisher is a FinTech guy, with experience in farming 2:47
🤓 How is hemp different from marijuana? 6:46
😳 Because of legislation issues, you can plant hemp legally, but it can grow to be illegal. 10:00
📈 About the legal framework of farming hemp and growth of interest for hemp in many agricultural states. 15:54
👂 Cannabinoids: CBD is challenged, as the FDA hasn't set clear regulations around it. 18:34
🪴 'Training the plant' is something that all businesses need to think about to achieve their goal. 23:37
💰 Looking at the side of the financial services and issues farmers have to get financial products (bank accounts, loans, insurance) 26:26
🌞 How RiskScout helps banks in high-risk businesses and also farmers who want to grow hemp? 34:45
🤑 The first person who develops an iPad for measuring THC levels in hemp will be a billionaire. 38:04
🏦 Community banks will have to rethink what their purpose is and innovate too. 41:09
Get in touch with Justin:
https://www.riskscout.com/
justin@riskscout.com
Listen to IDG podcast on https://idg.podcastnetwork.io/
😲An engineer working for Tesla has re-engineered the chocolate chip! 0:56
👍He did it better but it took him a few years. 02:31
💪Salesman invented the extension of a wing for a sailboat. 4:06
✨What really matters--find ways to make improvements. 4:50
🎯Every single individual in the company needs to be innovating. 6:25
📣How you get those ideas heard? 7:40
✌️Allow time for innovation in your company and people will be engaged. 13:52
🔔Innovation Challenge as a path for all HR issues with the long term benefits. 19:51
📈It's about improving the gross margin, not only about team building. 22:44
👀How to convert creative ideas into innovations? 28:53
https://www.foxnews.com/food-drink/tesla-upgrades-chocolate-chips
https://prnt.sc/upimx2
https://www.mdtmi.com/about-mdt/
🔗Connect with David:
david@davidpeterson.com
https://www.facebook.com/DPSpeaks/
🔀 Marketing and PR may not overlap. Being channel-agnostic. 02:42
❄️ "We are used to personalization." 04:49
😷The Covid-19 crisis impacted the ways we interact with brands. 09:43
💣 How to tailor a message that will not be offensive to anybody? 13:58
⏰ Algorithms and recommendations. How they save time. 21:25
🏅 Innovations in the financial industry. Behind the scenes. 27:46
🛍️ B2B vs. B2C and factors that influence customers' decisions. 30:57
✨ Importance of representation and diversity in marketing. 34:47
🌱 Young millennials and Gen Z people are natural digital communicators and marketers. 40:41
👩 Find Binna on Twitter https://twitter.com/binnaskim, LinkedIn https://www.linkedin.com/in/binnak/ and learn more about Vested https://fullyvested.com/ 44:55
🦠 Public activities during COVID-19 01:32
👏Kudos to the City of Montgomery: Innovative 4th of July parade. 2:24
⚽Innovation from Argentina: human foosball. 5:36
🙌Don't be afraid: find the intersection of necessity and opportunity. 8:40
👦My grandson's creation and working "with a purpose". 11:11
🌷When a young person shows any creativity, encourage it, and let it flourish! 14:06
😲Kelvin Doe aka DJ Focus - a 15-year old innovator. 16:08
🌱David Senge's ongoing program for young innovators. 17:36
💥Be the spark that sets innovative fire. 19:29
🔗Connect https://davidpeterson.com/ and https://www.linkedin.com/in/dlpspeaks
Show links:
https://www.npr.org/2020/06/30/884770859/this-reverse-parade-will-allow-july-fourth-revelry-from-a-social-distance.
https://www.wgbh.org/news/international-news/2020/07/03/human-foosball-new-form-of-soccer-developed-for-pandemic
http://prntscr.com/tnj464 and https://prnt.sc/to2fa6 https://youtu.be/XOLOLrUBRBY
Welcome, Wayne Miller. 1:30
The core concerns every business needs to do well. 4:39
🤝The Venture Center: supporting the entrepreneurial community in the state of Arkansas and beyond. 8:00
Collaboration with universities, technical schools, and other corporations. 10:02
What are ICBA and FIS?
Venture Center is working very closely to find business leaders and companies for FIS. 13:20
Accelerator Program - How it helps startups? 20:20
Venture Center success stories. 24:50
Future of innovation in financial services. 25:30
Future of community banks: innovation implementation of High touch and Hitech. 27:48
Getting beyond the curriculum: Student Education Entrepreneur Collective (SEEC) 33:11
Fulfilling the gap between startup enthusiasm and business wisdom. 35:29
The challenges of being an entrepreneur: Wayne's advice to innovators in financial services: 37:53
Contact Wayne:wayne@venturecenter.co and https://www.venturecenter.co/
Good example of getting creative to problem solve* 01:16
"Creativity is going to get us all through this." 04:05
How can I get innovation started at my organization? 04:26
🏼Immediately fall back into the numbing routine. 06:28
Three innovation categories. 08.34
Express ideas clearly: boosting speaking ability with Toastmasters. 12:09
🪁Forgiveness is easier to get than permission.13:38
If you are blocking others in innovation: Stand aside.15:23
Encourage and harvest all ideas, even if not all of them are winners. 16.55
What should innovators try to accomplish?
Don't punish the ones who are trying to innovate. 19:20
Make innovation a part of the employees annual review process.
Be the spark of innovation.2110
*https://www.foxnews.com/lifestyle/apparel-companys-t-shirt-idea-coronavirus-relief-
fundraiser},**https://www.toastmasters.org/https://davidpeterson.com/
Introducing Daniel P. Simon 1.43
Daniel's book: “The Money Hackers—a group of misfits took on Wall Street and changed finance forever” 2:55
The financial industry should empower everyone, not just the richest 9:57
Financial crisis: East coast bankers and West coast thinking technologists 11:16
The refreshing style in writing: engaging and light 15:27
The role of financial advisers 20:00
Human qualities will be the reason people stick to a financial institution 23:12
Wake Up call for community financial institutions–need to step up digital banking presence 23:36
What services will change in the future? 27:40
Get the book Money Hackers 35:26
https://www.amazon.com/Money-Hackers-Misfits-Changed-Finance-ebook/dp/B07TH7VLQ3/ref=sr_1_2?dchild=1&keywords=The+Money+Hackers&qid=1586291377&sr=8-2
https://danielpsimon.com/
Did you plan scenarios like COVID19 in your business strategy? 1:56
A Black Swan Effect 2:38
Planning for a catastrophic event 4:26
COVID19 Canceling speaking engagements and ripple effect throughout the entire industry.6:18
Virtual conference. It's a reasonable alternative. 09:01
Bankarshub - a good example of online innovation. 11:29
Don’t let the virus leave your organization on the sidelines. 12:20
Concerts and sports events canceled, but here is an alternative. 13:03
The innovation brought by Streamers and eSports *** 15:56
SoftGiving.com Charitable giving and online Galas 17:32
Silver lining to COVID19: outdated models of business 20:10
Don’t let this wave of inactivity damage your business, get in touch with experienced innovators 23:00
http://www.bankershub.com/
https://softgiving.com/
*https://fight2fund.org/
www.twitch.com
How is the "Flight, Fight or Freeze" response wired into our physiology? 02:29
You can train yourself to respond instead of reacting 04:15
How to keep your head in any crisis, big or small? 05:06
Fishing on the raft experience 05:58
How can you practice this response vs. reaction in your everyday life? 11:05
Which situations require an immediate response to remediate the crisis? 12:47
Don't make decisions based on what others might think of you or your response. 13:20
If you're a senior leader, you can work specifically to change reactions into responses.15:42
Navy Seal Breathing technique to keep you calm in the times of the greatest stress 17:27
**http://motto.time.com/4316151/breathing-technique-navy-seal-calm-focused/
How to get creative and harvest ideas for potential innovation? 00:08
🧠 What is the value of creative and strategic thinking? 01:25
The definition for innovation is “creativity: expressed, manufactured and consumed” 02:45
Why you need a specific systemic method to come up with and harvest creative ideas? 04:06
What are the four elements required to allow true creativity to flourish? 05:02
What spaces can you use as your “space for thinking”? 05:30
Why is it necessary for you to specifically allocate time to think? 10:25
Why do you need to relax and let your mind settle first before you start thinking? 13:55
🙃 Why is it critical to capture your ideas, no matter how silly or insignificant they might seem? 15:13
Take time to develop your ideas further, and give your right brain time to be creative 17:57
Nothing kills creativity, more than self-doubt 24:50
Tips to unlock creativity if you are a manager or an office clerk 27:52
Stop trying to think of good ideas and just think of ideas 31:53
Is the model of Higher Education going to radically change? 00:45
Autopilot thinking – how many decisions do you make in a day? 04:05
More experience - less chance of coming up with innovative ideas 05:42
What is the numbing effect of the routine process? 07:01
Why is the autopilot thinking the killer of creativity? 07:11
🧠 How the left brain and the right brain work together? 07:22
🤯 How to remember the insights that your right brain provides? 12:56
Developing an ability to look for ways to do things differently 13:42
Important - get outside input on your products and your processes 17:10
Why autopilot thinking is not enough for our future success 24:18
Why we must find ways to unlock our right brain 25:16
Where innovation falls in a business 03:25 //
Innovation and creativity 04:17 //
Innovation vs invention 05:10 //
How connections between technologies are driving economic growth 06:39
Understanding and dealing with the gap between seemingly unconnected technologies when starting and running a business 08:11 //
The concept of exomorphosis. This idea that change is happening around us. 11:55
Why is it important to listen to people who work with customers? 13:48
Why is it beneficial for older generations to appreciate the new generation's fresh points of view? 15:20 //
How virtual classroom is covering the gap between teaching explicit knowledge and practical knowledge? 19:30 //
Business plans: How do you make small mistakes that enable you to learn without your business dying? 22:05 //
A business simulator: how well would you do in a competitive environment? 26:10
Making a team: why cross-functional teams work best? 30:18 //
Successful teaching stories: how to be an effective leader and how to impact the effectiveness of a business? 35:35 //
Self-organization: what drives people to work together to make creative innovations? 39:17 //
Innovating out of one’s passion: helping people connect with what they really enjoy and love. 42:38 //
The difference between innovation and creativity—and why it matters. 01:54
Why we should brainstorm just ideas—not only earth-shattering ones. 4:26
What the Wesleyan Quadrilateral has to do with innovation. 6:25
️ How tradition impacts our behaviors (aka why we’re on autopilot). 10:10
⛰️ The birth of velcro, and how to use the experience as inspiration. 12:43
🧠 How to harness your creative brain with reason. 15:11
What is exomorphosis and how it impacts the way we live and work? 19:08
How exomorphosis can apply to the financial world (let’s talk about Venmo). 24:21
What we can learn from the fatal flaw of the taxi industry. 25:39
Why we must listen to the newest employees to stay ahead of exomorphosis. 28:41
Advice for Millennials: how to communicate with older generations. 33:04
Why you have to create ideas (even bad ones) to get to innovation. 38:17
*Wesleyan Quadrilateral https://en.wikipedia.org/wiki/Wesleyan_Quadrilateral
**Birth of velcro: https://en.wikipedia.org/wiki/George_de_Mestral
🤔We need to think about innovation differently. 0:00
How innovative are you—really? 1:42
Why are we playing the innovation blame game at work? 3:18
What a candy bar taught me about innovation. 5:03
Why innovation doesn’t have to be a big, disruptive breakthrough. 7:48
What to do if you do have a revolutionary idea. 13:01
You may not have any big ideas, but you can still have incremental innovations. 14:36
What sailing in the 1800s can teach us about innovation today? 18:17
My official definition of innovation. 23:37
Creativity vs. innovation—as demonstrated by jumping to the Earth from space. 29:14
What does it take for innovations to be wildly successful? 33:18
How to come up with innovative ideas. (Hint, it takes a lot of bad ones!) 37:50
Why small innovations are crucial. 39:49
Will you be innovative? 41:36