21 :: 3 Innovation-Threatening Cognitive Biases

CINO In The Making is a weekly newsletter about innovation, growth, and leadership, where I share my journey and the toolkit I'm building to (hopefully) become a Chief Innovation Officer. ?

Outsmarting our brains is not always easy but often needed. Its shortcuts and default modes do not always work in our favor. Half the time we try to ace innovation with the most sophisticated tools and frameworks, and the other half we allow these biases to undermine our innovation efforts, causing them to fall short on their potential. Being aware of what they are and questioning general assumptions is the way to avoid it. Here are 3 cognitive biases that condition innovation the most:

1. Confirmation Bias ??

We tend to favor information that confirms our existing beliefs and to downplay information that contradicts them. Even when there’s clear evidence - e.g. when an idea we think is great has insufficient traction. We might even subconsciously hire people that we believe will be +1s to us precisely to reinforce that confirmation. The only way not to get caught in this trap that can hinder innovation by making us resistant to new ideas, as I learned from an Amazon leader, is to continuously and ceaselessly seek to disconfirm our beliefs - identifying different and diverse perspectives that challenge our own.

2. Anchoring Bias ?

We tend to rely too heavily on the first piece of information we learn about a problem when making decisions about it or ideating solutions to solve it. This ends up anchoring our thinking and limiting us to focus on certain areas that fit within a narrow square. In innovation, anchoring bias manifests when we become overly attached to the initial concepts, preventing ourselves from fully understanding the problem and exploring new angles or adapting to changing circumstances. Not rushing into the solution stage before diving deeper into the problem - 55 minutes out of each hour, just like Einstein allegedly said - is a good strategy to avoid this bias.

3. Status Quo Bias ??

We crave comfort in the familiar, even if it's not ideal. This makes change, a key driver of innovation - as discussed in previous issues, and particularly in traditional industries or organizations -, a tough sell. People often have a preference for the current state of affairs and may be resistant to anything different. Even if it represents an improvement. As such, anyone who challenges the norms, experiments with new approaches, or tries to drive any type of change will face all that resistance, which might be discouraging and frustrating. To close the gap between those 2 parts - innovators and resistants -, we should reframe change as an exciting opportunity, highlighting the potential benefits and competitive edge innovation.

See you next Tuesday! ??