YPO Leaders Share Insights on Innovation and Entrepreneurship

DALLAS, Oct. 04, 2016 (GLOBE NEWSWIRE) — YPO, the premier chief executive leadership organization in the world, hosted a live Twitter chat focusing on how to accelerate entrepreneurial success and disruptive innovation, featuring YPO members and acclaimed innovation experts, Vikas Gupta (@vikaskgupta) and W. Brett Wilson (@wbrettwilson).

The hour-long interactive session began with a discussion on how to identify opportunities for entrepreneurship and innovation. Wilson noted that it’s important to carefully monitor the business landscape, watching for businesses that simply need capital to be able to drive fresh, new ways of conducting their business.

Gupta added, “A leader just has to view the world with the right lens to spot the greatest opportunities. These opportunities aren’t obvious. They are only opportunities by imagining their implications years from now. Sometimes, the things that look scary or impossible are the starting points for innovation – trust your intuition.”

When asked about how to know if an idea is good, actionable and scalable, Gupta said it comes down to courage.

“Ten thousand people may have had the same idea but 9,999 will talk themselves out of it,” he explained. “The courage to pursue crazy ideas and effective execution of those ideas are key to success. Scale depends on how big the problem is you’re trying to solve.”

For Wilson, knowing if an idea is a good one comes down to dedication. Wilson advised that to succeed as an entrepreneur, you often need to be willing to fail. “Try it. Fail. Try again!” and be dedicated to pursuing your ideas, even in the midst of failure.

In terms of what prevents innovation, Gupta and Wilson both commented on the need for change and thoughtful, open conversations. 

Wilson said that the tendency to stay with the status quo often can cause the biggest hurdle: “People stuck in ruts of ‘this is how we always do it,'” he noted. Gupta added, “Leaders who dictate rather than asking questions and provoking healthy dialogue are impediments to innovation.”

Other ways leaders can help create a culture of innovation include providing autonomy, being open to mistakes and fostering curiosity.

“This goes back to curiosity and creating an environment that encourages questions and open dialogue,” said Gupta. “You also need to get out of the way. Give employees the creative autonomy they need for success.” Wilson noted creating an environment that accepts mistakes as a learning opportunity was key, and a culture that rewards employees for driving new innovations is a powerful incentive.

The chat wrapped up discussing how innovators see the world. “Where others see obstacles, innovators see opportunity,” said Gupta. “While some complain about things, innovators reinvent.”

Search #YPOLeadership on Twitter to view the full discussion with @YPO.

About YPO
YPO is a global community of chief executives dedicated to becoming Better Leaders through Lifelong Learning and Idea ExchangeTM. We create trusted spaces where leaders gather, connect, share and grow. The YPO platform provides more than 24,000 members in more than 130 countries – representing diversified industries and types of businesses – with access to extraordinary educational opportunities, alliances with leading institutions, and interest-based communities to support their businesses, communities and families. For more information, visit ypo.org.

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