207: Disruptive Innovation, Luke Williams - The Entrepreneur Gene Series

"Entrepreneurship is in everyone. It just gets expressed in different ways." Luke Williams Show host Laurie Barkman welcomes Luke Williams, Founder/CEO of IdeaSkills and Clinical Associate Professor of Innovation and Design at NYU Stern School of Business.  They discuss whether entrepreneurship can be taught and delve into the importance of fostering innovative mindsets within established companies. Luke shares insights from his book 'Disrupt' and discusses the balance between maintaining business continuity and introducing disruptive ideas. Luke also emphasizes the significance of learning over investment and provides advice for business owners struggling with innovation. The episode concludes with Luke's journey from Australia to becoming an educator and innovation expert and his passion for creating more competent innovators. Takeaways: Continuously work on developing the capabilities needed to be competitive in the future alongside keeping the existing business running. This is crucial for maintaining a balance between today's needs and future opportunities. Create diverse teams to ensure a wide range of perspectives and ideas. This diversity can foster innovative thinking and help develop balanced solutions that might not emerge from a homogenous group. Encourage the influx of fresh, disruptive thinking and assess the value of ideas based on how much they help the organization learn and adapt. Develop a "test and learn" budget to experiment with new ideas without the pressure of immediate returns. Allow small-scale testing of innovative ideas to see what works and can then be scaled up.   This Show Is Sponsored by The Business Transition Sherpa® 100 percent of owners will leave their business one day. But few are prepared. Are you? Get your copy of the Amazon best-selling book by nationally recognized expert, Laurie Barkman that reveals how to build business value and plan for succession, transition, or selling the business on your terms....what every entrepreneur needs to know.    ✨📖 Get your FREE digital copy of The Business Transition Handbook: https://btsherpa.com/book   📣 Write a Review: https://ratethispodcast.com/successionstories  _________________________________________________________________   Connect with Laurie Barkman:  Email: [email protected] LinkedIn: https://www.linkedin.com/in/lauriebarkman/ Book: https://btsherpa.com/book YouTube: https://www.youtube.com/@TheBusinessTransitionSherpa    Connect with Luke Williams: LinkedIn: https://www.linkedin.com/in/lukegwilliams/  Website: https://www.youtube.com/@IdeaSkills  Book: https://www.amazon.com/Disrupt-Think-Unthinkable-Transformation-Business/dp/0137025149