Frans Johansson is the Founder and CEO of The Medici Group and the author of The Medici Effect, an international bestseller that shattered assumptions about how great ideas happen. Fast Company chose his second book, The Click Moment, as one of the best business books in 2012. The book obliterates the idea that in business you can plan, strategize, and analyze your way to success.
Frans gives a very enthusiastic 1 minute background story of his life. Combinations of ideas can lead to breakthrough ideas. We tend to rely on logic in trying to reach success … what happens is that all products/services are going to look the same. And we need differentiation. We have to do something that’s not logical … not obvious … serendipity.
The 10.000 hour rule popularized by Malcolm Gladwell works only limited areas. It works in areas where the rules don’t change (Eg tennis, playing violin). It doesn’t seem to work in business or society in general because the rules change all the time. The world is unpredictable. The unexpected is what makes us stand apart.
Is strategy and planning completely useless? Everybody is invited to do the exercise ‘rock paper scissors’ and have a strategy in advanced but if you look at the winners – the strategy is completely random. But we need an intent/goal/direction. The purpose of the strategy is not to figure out the right answer BUT to convince yourself to act.
We need intersectional thinking and allow diversity to find new ideas. The Medici family (Italy) sponsored different people who were working in totally different disciplines. Combine concepts from different cultures to come up with breakthrough ideas.
How can you apply the Medici effect:
1. Find inspiration from fields or cultures other than your own.
2. Surround yourself with diversity (sitting together in a physical room stimulates serendipity)
3. Execute – but manage risks differently (you have to change your plan a lot of times – what’s the smallest executable step). Do something, anything – and put it out there – same advice from Seth Godin: ship ship ship.
4. Pay attention to surprise – what sets you apart.