The term “loonshot” refers to ideas that at first sound far-fetched, with low probability of success, but that if they work have enormous transformative impact. Bahcall argues that innovation is not a random act, but can be cultivated and nurtured by creating environments conducive to the development of loonshot ideas. To this end, he proposes a framework based on three fundamental pillars:
Diversity: Innovative ideas arise from the friction between different perspectives and experiences. This is why diversity of thought is essential to foster creativity.
Tolerance for failure: Most crazy ideas fail. However, it is important to learn from these failures and not be afraid to try again. A culture that tolerates failure is crucial for innovation.
Experimentation: The best way to know if a crazy idea works is to put it to the test. Experimentation is essential to the development of innovative ideas.
Key points for fostering Loonshots
Innovation is not just about having new ideas, but also about having the courage to champion and implement them.
Loonshot ideas often require time and resources to develop. It is important to be patient and persevering.
Collaboration is essential for innovation. The best ideas often come from collaboration among people with different skills and perspectives.
The forces that drive or prevent loonshots from thriving within teams, companies and cultures can be shaped by two types of organizational structures:
The “mission winning” loonshots centered on established ideas and
“loonshot nurseries” that cultivate transformative loonshots.
A key finding is that both types of structures are necessary and complement each other. Mission winners provide resources and stability, while loonshot nurseries nurture and protect the strangest ideas until they are ready to change the world. The perfect balance between the two is essential.
Strategy for implementing loonshots concepts
Establish a loonshots program: This program could provide employees with time and resources to work on radical and innovative projects.
Create a physical space for collaboration: A space where employees from different departments can meet to exchange ideas and work together on creative projects.
Encourage continuous learning: Encourage employees to attend workshops, conferences and events related to innovation.
Recognize and reward innovation: Create a system of awards and recognition for employees who come up with innovative ideas and carry out successful projects.
Be tolerant of failure: It is important for employees to know that they will not be penalized for making mistakes in the innovation process.
Examples of implementation
A technology company could set up a “loonshots” program that provides engineers with one day a week to work on projects of their own choosing.
A marketing firm could create a “coworking” space where employees from different teams can work together on innovative marketing campaigns.
A consulting firm could offer its employees courses on creative thinking and problem solving.
A consumer products company could create an idea contest where employees can submit their ideas for new products.
The value of innovators and implementers
Bahcall stresses the importance of nurturing both performers and soldiers in an organization. Innovators and those who execute plans are equally important to an organization's success.
Don't let good ideas pass you by
Don't let good ideas pass because of fear of the unknown. Successful organizations know how to manage risk, while betting heavily on and encouraging innovation.
Ideas that change the world begin as “loonshots”: ideas so original and ambitious that they are initially dismissed as crazy. But with the right environment, these ideas can be transformed into world-changing innovations.
Bibliography
Bahcall S. (2019). Loonshots. How To Nurture The Crazy Ideas: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries. Publisher St. Martins Griffin Press
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