The Art of Satisficing: Casting a Different Line in Corporate Innovation

"He who is not contented with what he has will never be contented with what he would like to have" - Socrates

Skim Read Bold: 5 mins

In the ever-evolving landscape of corporate innovation, we often find ourselves amidst the relentless chorus proclaiming that unceasing growth and perpetual advancement are the unequivocal markers of business success. This relentless technoesque drumbeat reverberates through boardrooms and startups alike, commanding us to innovate, expand, disrupt, and repeat! But what if I were to propose an unconventional, less-travelled path to success, one that embraces timeless contentment and equilibrium amidst the tumultuous rough seas of innovation?

As a corporate innovator for the best and the majority part of my working career, I've been conditioned always to be driven by an insatiable hunger for more, I've regarded professional contentment as a foe, almost a malevolent force that always hindered any progress. Allow me to take you on a journey into the realm of "satisficing" and elucidate how I now view it as key to a more harmonious approach to corporate innovation, growth, and ultimately, contentment. But before we set sail, let's ensure we're all on the same boat regarding the concept and context of "satisficing" here:

Satisficing, in essence, entails making decisions and pursuing actions that meet the minimal requirements with the minimal resources necessary to achieve a specific goal. It revolves around harmonising progress with contentment.

I've always passionately championed professional and commercial growth, specifically through the focused lens of corporate innovation. I faithfully adhered to a well-established corporate innovation framework, which became my trademark approach to propelling companies towards a brighter, more prosperous future. I was entrusted time and again with the task of guarding them against the dangers of stagnation and the looming spectre of falling into a monotonous corporate routine. My guiding belief was that any corporate status quo was not just inadequate for survival but also insufficient for genuine prosperity and happiness.

However, in recent times, I've found myself entangled in a web of paradoxes surrounding the very concept of progress. I've begun to question the true meaning of progress and contemplate the opportunity costs of relentlessly pursuing more, both as an individual and within corporate entities. It's as if I've stumbled upon a hidden garden of ideas that challenges my conventional understanding of success. In this exploratory musing, I invite you to join me on a brief fishing expedition—a journey that involves a bit of angling and promises to captivate your interest in the subtle art of "satisficing."

The Parable of the Mexican Fisherman and the American Banker

Amid the whirlwind of corporate innovation, where companies are often entrapped in the relentless pursuit of idealised perfection, a valuable lesson can be gleaned from the parable of the Mexican fisherman and the American investment banker. For me, this parable succinctly encapsulates the essence of "satisficing." It is a philosophy that urges us to find the optimal equilibrium between our aspirations and the resources at our disposal to reach a pragmatic goal. Satisficing, as you'll soon read can serve as a potent approach within the realm of corporate innovation. First, here is the parable itself:

An American investment banker was taking a much-needed vacation in a small coastal Mexican village when a small boat with just one fisherman docked. The boat had several large, fresh fish in it.

The investment banker was impressed by the quality of the fish and asked the Mexican how long it took to catch them.

The Mexican replied, “Only a little while Se?or.”

The banker visibly confused quipped; "You must be mad, certainly there must be more demand for more fish than you've caught, why don’t you stay out longer and catch more fish???

The Mexican fisherman smiled and replied he was content that he had enough to support his family’s needs.

The American then asked “But what do you do with the rest of your time?”

The Mexican fisherman replied, “I sleep late, fish a little, play with my children, take siesta with my wife, stroll into the village each evening where I sip wine and play guitar with my amigos: I have a full and busy life, Se?or.”

The American investment banker scoffed, “I am an Ivy League MBA, soon to join a new VC; I will give you the best advice you need. Here's what you do - You need to spend more time fishing every day and with the proceeds buy a bigger boat, and with the proceeds from the bigger boat, you could buy several boats until eventually in about 5 years' time, you would have an entire fleet of fishing boats"

"Then what?" asked the fisherman inquisitively,

To which the banker replied "Then instead of selling your catch to the middleman you could sell directly to the processor, eventually opening your own cannery in about 10 years time. You could control the entire product, processing and distribution chain.”

Then he added, “Of course, you would need to leave this small coastal fishing village and move to Mexico City, maybe even LA or New York where you would run your growing enterprise from.”

The Mexican fisherman asked, “But Se?or, how long will this all take?”

To which the American replied, “15–20 years.”

“But what then?” asked the Mexican.

The American laughed and said, “That’s when it really gets interesting. When the time is just right you would announce an IPO and you sell your company stock to the public and become very very rich. You could make millions, maybe even billions. Boom!”

“Millions, maybe even Billions in 20 years time, Se?or? Wow, Then what after that?”

To which the investment banker replied, “After that sir, here's the best part - you'll be able to retire. You could move to a small coastal fishing village just like this where you would sleep late, fish a little, play with your kids, take a siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos. Boom!”

So, Are You The Fisherman Or The Banker And Are You Happy About It?

As I revisit this parable time and time again, I am struck by its profound portrayal of what I've come to call the "innovation rat race" and all its inherent limitations. The investment banker, a quintessential figure in this race, succumbs to the alluring trap of relentless innovation—a ceaseless, self-defeating, and overwhelming pursuit of financial wealth that often sacrifices the simple pleasures of contentment in the present moment.

The fallacy that one must amass wealth before enjoying a full and happy life is fundamentally flawed. While a person (or business) of means may not grapple with the same financial hardships as someone less fortunate, the time spent with loved ones is equally precious, and laughter no less hearty. The pursuit of wealth may inadvertently erode the very experiences it aims to provide. These same lessons can undoubtedly be applied to the pursuit of corporate innovation.

Much like the banker in the story, the ultimate goal in corporate innovation is the ability to spend our time as we desire, with those we wish to be with, and working for those we want to please—just as the fisherman was already doing.

In the end, even the banker, blinded by ambition, realised that the true value of money lies not in the money itself but in what it can be exchanged for. This revelation sheds light on the often overlooked aspects of the corporate innovation playground, such as productivity, people, practices, and purpose—elements tucked away in the blind spot between the money and the magic of corporate innovation.

It leads me to ponder how we can better approach things via empathy/journey mapping with an initial focus on moments and meaning, rather than the conventional overbearing obsession with vanity metrics and financial gain.

Reclaiming the Shore: Find Out if You Are sailing With a Fisherman, a Banker, or a Pirate in the World of Corporate Innovation

The relentless pursuit of success in the corporate innovation rat race often blinds us to the treasures already at our fingertips. How many cherished moments with loved ones have we sacrificed under the banner of 'working hard now to enjoy quality time later'? This notion of deferred gratification has been woven into the fabric of our working lives. In the realm of corporate innovation, the alluring call of the sea often beckons us away from the safety of the shore, urging us to venture deeper into uncharted waters. Paradoxically, the farther we venture, the closer we come to the perilous cliffs of inevitable failure - the more of the unknown we seek, the more stress and worry it induces. This leads to a pivotal question: Why do we abandon the comforting embrace of the shore and the warmth of home to risk seeking more? Those who advocate for such conduct often remain shielded from its consequences. Those who typically extol the 'fail fast' corporate mindset are often not the ones whose livelihoods are on the line should you sink. Therefore, if there's no need to go big - I implore you to fish responsibly and in moderation near the shore within your boundaries, to set clear expectations, and to understand from the outset who bears the burdens and who reaps the rewards of taking innovation risks.

Curiously, those most inclined to invest in innovation, such as CEOs, often hesitate to actively ensure its success . Staying within the nautical metaphor, 'The Sailboat Exercise' provides a team with a tool to discern whether they are working with 'fishermen,' 'bankers,' or even 'pirates' in the realm of innovation. Blind-testing exercises can also provide deeper insights into your team's dynamics, helping identify those who support your journey, those who act as anchors, and those who provide the silent wind in your sail. This exercise also aids in establishing a shared destination as well as gaining a perspective of your corporate departing point - try it:

These exercises revolve around nuanced questions that reveal your peers' appetite for risk and their perception of rewards. They delve into topics such as the company's envisioned size, goals, legacies and successes over various timeframes, for example; asking the hypothetical preference for them either being among the "initial 10 employees for the first decade" or part of "the final 10 for the last decade" reveals a lot about the mindset of a peer, as well as the financial threshold defining success for them as professionals, team members and employees of the larger ship.

For a long time, corporate innovation has been synonymous with asking transformative questions that ignite the flames of groundbreaking and disruptive projects. But what if we were to flip this narrative and contemplate the idea of slow growth, or in some instances, no growth at all? It's a concept worth exploring. In enlightened scenarios, regressing to become more agile, efficient, and content may be the answer. Many companies have come to the realisation that getting caught up in the whirlwind of rapid scaling can be counterproductive and distracting. In a world that reveres innovation as the ultimate path to sustained success, it may seem heretical to suggest that innovation itself could be the antagonist of success.

The "6 Innovation Silver Bullets" Fallacy

In our era, headlines often read like scenes from science fiction, with companies reflexively reaching for the over-glorified "innovation silver bullets" of my so-called "6 Innovation Alarm Bells", a chorus frequently heard from eager innovation illiterate executives in pursuit of rapid innovation:

1. Let's build an APP...
2. We must adopt AI...
3. We should establish an ACCELERATOR...
4. We have to APPOINT an Innovation Tsar...
5. We need the best Innovation AGENCY money can buy...
6. We will ACQUIRE our competitors to become more innovative...

If you find yourself uttering these six directives without conducting a comprehensive exploration of your innovation needs, it's time to set off the alarm and step back. Otherwise, you risk setting yourself up for innovation failure and enduring the fatigue that comes with ignoring the massive bummock on the iceberg surely lurking somewhere ahead.

Regrettably, instead of forging a path forward as I'd prefer in the work I do, my role often entails collaborating with boardrooms and executives to fix errors of the immediate past (particularly those who have transitioned more into the role of "bankers" than "fishermen"). They need help to untangle, unwind, redirect, and rebound from ill-advised, impulsive and outlandish innovation strategy decisions that, despite promising grand success, often result in disappointment. These decisions frequently stem from a desire to quickly push through the "silver bullet solutions," even when there isn't a clear problem to address or them having really evaluated or diagnosed the status quo. Personally, I would like to see more of the proverbial fishermen (and griots (more on that later) in more boardrooms to help improve the cadence of innovation decisions.

Innovation Overload: The Pitfalls of Distractive Corporate Innovation

We often hear that groundbreaking innovation is the linchpin of a company's relevance. However, there's an intriguing plot twist: a closer look at many companies touted as the "most innovative" reveals that they haven't undergone significant innovation over the course of their existence and never aspired to be disruptors. Among them, only a third belong to the tech giants, while the rest are well-established entities in traditional industries. To illustrate this, just glance around your surroundings. You'll likely find more companies that continue to thrive today with their original products than those that have consistently revolutionised themselves and their industries. (In my current surroundings, I can spot brands like Bic, Sriracha, Neom, Corningware, Disney, Walkers, Howdens, Cadburys, Shell, Lego, HP - go ahead, give it a try right now).

This raises an important question: Is there such a thing as excessive or prematurely disruptive innovation masquerading as distractive innovation? Who sets the pace and exerts the pressure for constant innovation? Can you resist this pressure?

If your business has discovered a balance between financial sustainability and meeting customer needs, why jeopardise this equilibrium? Why keep pushing for more innovation when you've already struck a harmonious balance? The holy grail of striking a balance of having commercial viability whilst at the same time delivering on customer centricity should be teh pinnacle of success - what is driving you to innovate any further instead of choosing to preserve and prolong what you already have?

Preserving the Secret Sauce: When Success Speaks for Itself, Why Risk Changing The Secret Sauce?

There's an undeniable allure in businesses that resist the siren call of ceaseless expansion and remain committed to their core values and tried-and-true recipes for success. During a recent visit to California, I was struck by the example of "In-N-Out Burger," a beloved and thriving fast-food chain dedicated to upholding quality, simplicity, and tradition. While many fast-food giants continually expand their menus, In-N-Out Burger remains faithful to its classic offerings—the humble hamburger, the cheeseburger, and the double-double—capturing the hearts of devoted customers. The atmosphere exuded multi-generational loyalty, as entire families joyfully dined together, symbolising a perfect balance between public contentment and subtle progress since 1948. The operation demonstrated remarkable commercial viability and an even stronger sense of customer-centric values - everything just felt, looked and seemed right.

Since 1948, their menu has remained untouched, with no apparent desire to alter this timeless formula. This leads to the question: why should they change? Companies that rush to change risk losing their fundamental identity.

Sure, positive generic advice is always nice to have - but honest experience-driven intuition is way better. It's time to slow down the relentless pursuit of innovation and redirect our focus to the original purpose of innovation. There are numerous cases where corporations, in their haste to innovate, have alienated their loyal customers and employees. Consider the Starbucks unicorn frappuccino as a poignant example, raising a thoughtful question: does innovation sometimes undermine customer and employee loyalty? I firmly believe it does if it's not executed for the right reasons, at the right time, and for the benefit of those who truly matter.

Harmonising Corporate Innovation: The 'Trimurti Process

Corporate Innovation is often framed in a misleading binary lens – a choice between perishing (dying) or prevailing (thriving). Having been on both the buy and sell sides of corporate innovation, it is rarely as dramatic as that; if ever at all. It's an embarrassing tactic adopted mainly by innovation agencies to shamelessly scaremonger to sell an overplayed innovation imperative to boardrooms to suit their own agendas. On occasion, the key to corporate happiness and success can simply lie in preserving (surviving) the status quo and deriving joy from the present moment by marginally or incrementally improving on the existing proposition.

For me, the core of innovation lies within what I call the "Trimurti process," an adaptation of the sempiternal Vedic Trinity of Shiva (The destroyer), Vishnu (The sustainer), and Brahma (The creator). This continuous improvement process involves first shedding detrimental habits, nurturing the existing status quo, and only then embarking on inventive ventures with available resources or making a compelling case for additional support (Kill, Improve/Sustain, then Invent). Regrettably, many inexperienced corporate innovators rush into innovation, hastily pandering to glitzy tech trends first, only to discard them, leaving corporate innovation with an undeserved tarnished reputation without adding any value (Invent, Improve/Sustain, then Kill).

Entrepreneurs and, certainly, venture capitalists may argue that the "Vedic trinity innovation" approach, akin to the Mexican fisherman's philosophy, appears excessively cautious and rigid. I acknowledge their perspective because it contradicts their ethos of perpetual change. They assert that, much like Barracudas or Tunas in the wild, staying static spells danger and potential obsolescence. I'm aware that the parable, while appealing, holds a flaw in that we can't truly know the Mexican fisherman's financial situation and that he might only be one storm away from ruin; but best to assume he might have already secured his future. Hence, I posit that, by the very act of engaging in "Corporate Innovation," an entity isn't under imminent threat or in urgent need of rapid scaling - if anything, they would be better off to batten down the hatches at the first sign of a storm.

Avoid the VC-Induced Scale Race: A Prudent Approach to Corporate Innovation for Fisherman and Aspiring Bankers

Certainly, slower and smaller corporate innovation offers a multitude of benefits, but its success is intricately tied to the application of prudence and foresight.

But one might question who embodies the archetype of the pure American banker and Mexican Fisherman in this corporate context:

Those who rush forward at breakneck speed, aligning themselves with the American banker, often found in the ranks of brash entrepreneurs and poncy venture capitalists, are willing to take substantial risks for quick rewards. On the other hand, those resembling the Mexican fishermen tend to be the stewards of established corporate traditions, resistant to change in favour of tried-and-true methods.

Based on experience, it's often the latter group that achieves more consistent success with a superior return on investment with minimal failures and worries. So how do we spot and contain an American Banker? Who should we be most wary of?

Unquestionably, it's the toxic venture capitalists with a propensity for unchecked and rapid aggressive growth who most personifies the spirit of the American banker. Many of these highly lauded, and at times excessively praised, VCs have significantly contributed to the prevailing ticking timebomb notion that more capital, faster expansion, and increased size inherently equate to superior outcomes. This mindset has irresponsibly coerced countless startups into rapid scaling and the pursuit of lofty valuations, often at the expense of equity, financial stability, and, regrettably, personal and corporate well-being, including the invaluable commodity we should all hold in higher regard: time.

It's crucial to emphasise that this message isn't exclusive to corporate innovators launching new ventures within established corporations; it also extends to startups operating independently in their quest for growth. When dealing with VCs offering enticing valuations, it's imperative to fully grasp the sacrifices that may be demanded on the journey to success and the extent to which you might need to cede a portion of your company (and that precious peace of mind) to reach towering heights. From my perspective, I believe that many of the startups seeking VC funding today may not require it; they do so ostentatiously, unwittingly participating in the "innovation rat race."

Balancing A Boatload Of Corporate Innovators: Mexican Bankers, American Fishermen and African Griots

In the corporate world, we often extol audacious entrepreneurs as the beacons of growth and success. However, it's high time we reassess who truly deserves our admiration in this domain. Start-up entrepreneurs, thriving in their dynamic environment, don't always embody the risk-averse traits and commitment to structured processes, like stage gates, that are vital in the corporate setting. In reality, the most accomplished corporate innovators must strike a delicate balance and behave like both the fisherman and banker, much like modern Mexican bankers or American fishermen, offering a nuanced and broad perspective. These individuals adeptly drive progress while embracing the present, becoming custodians of their organisation's legacy without compromising its core values.

Drawing inspiration from the rich tapestry of West African tradition, where griots played a sacred role as oral historians and storytellers, passing down their community's stories, culture, and wisdom to future generations, corporate innovators embody the essence of the Mexican banker. They function as guardians of the organisation's innovation journey, preserving corporate values, narratives, cultural wisdom, and guiding principles. In doing so, they champion a well-rounded approach to innovation and growth, motivating the next generation to carry on the business's legacy because a corporate past will always be richer in experience and anecdotes than its future. True innovation often involves regularly revisiting the footprints of the past, for within those footsteps potentially lie the blueprints of a brighter future.

Their role is multifaceted, encompassing the protection of the organisation's culture and wielding the ultimate authority over proposed changes, ensuring the business doesn't deviate from its core values.

The thought-provoking 1972 MIT study, "Limits to Growth," prompts us to reflect on the wider trajectory of human progress and the unfolding narrative of civilisation in the context of corporate innovation. This contemplation raises a fundamental question: Are we on the verge of reaching our zenith, or are we teetering perilously toward a nadir? Is there a definitive limit to the betterment of individuals, corporations, and humanity as a whole? It's crucial to acknowledge that the potential for decline often looms larger than the possibilities of improvement.

Before we venture too far into uncharted waters, it's wise to confront this reality honestly and gain a deeper understanding of our goals, the required efforts, realistic timelines, and what we may genuinely need to sacrifice to attain our objectives. It's a profound self-examination to ascertain whether our pursuit aligns with our true needs, desires, and ultimate well-being - appreciate what we Have, before we wander off to chase what we think we may Need or Want.

Be Aware of Where The End of The Line Is Before You Ever Get There And Know When To Stop

Before embarking on ambitious corporate undertakings, particularly those that mirror the parable's 20-year commitment or echo the audacious Horizon 3 HS2 train project, it is essential to establish a fundamental reality and goal from the outset. The banker ignorantly aimed to inspire the fisherman to embrace a life that offered what he already possessed in the present - had it not been for the fishermans ongoing intrigue in exploring the banker’s plans, he would have been trapped in an endless chase away from his ‘why’.

Proactively managing everyone's (at a minimum the CORE (Customers, Owners, Regulators and Employees) stakeholders) expectations should always be a priority. This includes defining our aspirations for what we aim to achieve and fostering a comprehensive understanding of the necessary efforts, time commitments, and realistic timelines. At every juncture (or stage gate), we must employ pragmatism, honesty, and integrity when assessing the challenges and implications before deciding whether to proceed or not.

Furthermore, it's crucial to ensure the presence of experienced innovation professionals who possess the acumen to recalibrate and pivot the course instead of persistently overcommitting to an impending failure. Competent innovators routinely conduct dynamic pre-mortems and playbacks for every project to stay ahead of their portfolio, ensuring that projects remain commercially viable and customer-centric. Corporate innovators need to be comfortable to pull the plug or pivot. This has been a worry recently of peers not doing so despite all the warning signs of danger ahead. If the fisherman were at risk of investing more than he could ever gain, when would the American banker offer advice or permit the fisherman to abandon the expansion plans, if at all?

A phrase I often share with my teams (and commonly used in pitches) is, "We haven't come this far just to come this far." However, what if our journey has been too swift, and we've overcommitted ourselves to an uncertain future for our businesses? Is there a way to retrace our steps? Have we established effective contingency plans to return to a more favourable state? Can we reverse our course? As a corporate innovator, it's crucial to establish fail-safes before embarking on an exploratory expansion and to understand our starting point as we chart the path forward at a responsible pace, rather than rushing full steam ahead, making it difficult to steer or slow down.

At its core, corporations seek to maximise value for their shareholders. Once profitability is achieved, a critical question arises: should risk-taking be curtailed, shifting the company's focus toward preserving and prolonging the status quo? Perhaps there is merit in aspiring to a state of contentment rather than relentless expansion and ceaseless innovation, seemingly purely for shareholders' sake. To challenge the prevailing paradigm of scale and boundless growth, can we envision treating a company like an option, complete with a predetermined expiration date and a defined exit strike price? Depending on whichever comes first, the company is exercised and settled. If you were to set an expiry date for your business, when would that be, and what strategic adjustments would you make leading up to it?

Nature serves as a powerful source of inspiration through biomimicry. While humans and corporations often relentlessly chase excess, most species seek balance and stability in their existence. The majestic redwood trees provide a noteworthy example; they reach impressive heights but don't endlessly extend themselves. Instead, they grow to stand tall, self-sufficient, and unwavering. Similarly, both individuals and corporate entities can benefit from finding their "satisficing" point, leading to sustainable success and the creation of a lasting legacy - that said, could metrics like a positive NPS score be used to prevent and veto big corporate change? It's time to challenge the unquenchable thirst for growth. Again, should we seek greater happiness and fulfilment by "satisficing," finding contentment in our achievements rather than relentlessly pursuing more?

Let's pause for introspection, whether at the individual or corporate level and question the nature of our current endeavours. Can we genuinely label our relentless pursuit of growth as successful, or has it resulted in more challenges than rewards? Is it conceivable that a return to simpler times could offer greater happiness and contentment? Consider the timeless fable of "The Tortoise and the Hare," where the deliberate and unwavering approach of the tortoise proved superior to the hare's overconfidence and impulsive actions. Now, ponder the idea that your north star may have already passed you by. Would you go back and stop there, or look ahead to find a new one and work toward that?

Patagonia Paradox and Twitters X: Sustaining, Shrinking And Satisficing

Consider the case of Patagonia, a renowned outdoor clothing company often presented as a counterexample to the typical growth-driven corporation. Patagonia has purposefully resisted the allure of rapid expansion, steadfastly adhering to its commitment to sustainability and ethical practices. This deliberate, measured approach has allowed them to cultivate a devoted customer base and build a brand that aligns with their values. While they may not reach the astronomical valuations of some competitors, they have found a balance between growth and integrity that constitutes a successful model.

In a recent and noteworthy example, Elon Musk, known for his innovation-centric leadership, made a strategic decision in line with the concept of "satisficing." As the CEO of Twitter, he opted to downsize the company's workforce, with reports indicating up to an 80% reduction in staff. Musk's decision wasn't driven by downsizing for its own sake but rather aimed at optimising Twitter's resources to better align with the company's core goals and values. He recognised that the company had accumulated excess overhead and had scaled disproportionately to its needs. This step was taken to enhance the agility and efficiency of Twitter's operations, enabling a sharper focus on the company's fundamental mission and innovative pursuits.

It raises questions about whether other giants like Amazon should consider a similar path, evaluating whether their current colossal size serves their ultimate objectives. Is Amazon's current scale too vast? Did it need to grow to its current size? Are the drawbacks of such an immense scale, including cultural issues, regulatory scrutiny, environmental concerns, quality control, and the integrity of third-party sellers, worth it? There are examples of companies, like Hewlett-Packard, that have wisely opted for downsizing and division to stay ahead. Should Amazon consider a similar strategy, and is degrowth a viable way forward?

Cricketing Wisdom: Emulating Tendulkar's Fisherman Approach to Corporate Innovation

As the ICC Cricket World Cup takes the spotlight at home, it evokes thoughts of a remarkable fisherman and cricket legend whose approach closely parallels that of an exemplary corporate innovator: Sachin Tendulkar. Throughout his 24-year career, the "Little Master" shattered numerous records and made history by becoming the first cricketer to score 100 international centuries. In a revealing interview, Tendulkar confessed that he never envisioned such a lengthy career, yet when he did retire - it was on his own terms as he alone was satisfied that it was the right time to walk away from the game. He had achieved every record he required and there was little left for him to prove to himself. His batting style also mirrored that of the Mexican fisherman – methodical and measured.

Tendulkar's philosophy was refreshingly simple: when he walked out to bat, his objective was to accumulate 10 runs at a time, with no fixation on centuries. He prioritised incremental progress and immediate, attainable goals, avoiding the distraction of chasing monumental milestones that might add undue pressure. This deliberate approach to knocking off the easy runs (innovation wins) paid substantial dividends in the long term - most importantly for me, the lesson learned is that this run-by-run approach allowed Tendulkar the freedom to relish his craft to the fullest. Just like taking care of the pennies, which then ensures the pounds are well taken care of.

Similarly, corporate innovation can embrace a journey of gradual, incremental advancement, by focusing on the first 2 innovation horizons to achieve repetitive success. Instead of diving (being pushed by the pirates and bankers) into audacious and potentially overwhelming Horizon 3 initiatives, companies can achieve substantial strides by breaking them down into manageable, smaller milestones. This approach not only cultivates a constant sense of achievement throughout the journey but also provides tangible rewards – an often underestimated fuel for innovation's fire. It seamlessly aligns with the ethos of gradual, step-by-step progress and innovation stage gates, effectively relieving pressure, nurturing consistency, facilitating learning, and ultimately laying the foundation for sustained success. Each small step substantially contributes to the bigger innovation picture.

A Fish In Hand Is Worth Two In The Sea

In these enlightening tales of the fisherman and the banker, we've embarked on a dispassionate exploration of the ever-evolving landscape of corporate innovation. The lessons we've uncovered underscore the paramount importance of finding a harmonious balance between rapid expansion and preserving as well as prolonging the business's current state. This equilibrium, where growth intertwines with sustainability and ethics, not only paves the way for long-term success but also nurtures a more contented journey.

Our paths, whether as individuals or corporations, seldom follow linear trajectories. We often traverse well-trodden routes, offering enjoyment and security. However, there's no harm in occasionally embarking on uncharted journeys, provided we do so thoughtfully, fully aware of what we may gain or lose along the way. To be clear, adopting "satisficing" doesn't equate to settling for mediocrity; it's about achieving excellence within the constraints you face. But first, you must have a deep understanding of those constraints - this is exactly what an experienced corporate innovator can help you uncover.

Corporate innovators like Elon Musk often march to the tune of "killing two birds with one stone," embracing a constraint-focused mindset to uncover innovative approaches that yield dual benefits within the shortest timeframes. These approaches may enhance efficiency and simultaneously reduce costs through a single strategic innovation initiative, for example, reducing 80% of the workforce at X.

As we navigate the intricate channels of corporate innovation, let's not hesitate to retrace our steps and rediscover contentment with our current achievements and positions. Embracing the compass of "satisficing" offers a path to sustainable peace of mind. Just as the saying goes, "A bird in the hand is worth two in the bush," or, in our context, "a fish in hand is worth two in the sea." Before pushing ourselves to the brink, let's pause and reflect on what drives us to seek more even after achieving success. When do we acknowledge that "enough is enough"? Do you know your limits to professional and personal growth? These introspective questions challenge us as professionals to rise above conventional growth metrics and seek the elusive harmony between ambition and contentment.

The parable, insightful though it may be, doesn't account for the macroeconomic changes that unfold over two decades. In the realm of corporate reality, however, it becomes evident that "satisficing" is an essential principle for every business. During periods of economic turbulence, when challenging macroeconomic conditions squeeze budgets, limit resource accessibility, and justify heightened risk aversion, companies often focus on more cost-effective, core competency-based, and incremental innovations. But why reserve this approach only for turbulent times? Why not make it a constant priority to capture the low-hanging fruit before anything else?

In these delicate situations, adopting the "satisficing" approach, as Elon Musk has done at companies like X, emerges as a practical alternative to embarking on high-risk, resource-intensive endeavours which run the high risk of simply being innovation theatre. This unassuming approach to corporate innovation empowers businesses to navigate the economic tribulations of a recession gracefully. It does so with poise, integrity, and diligence, all while making steady progress in its innovation pursuits through a more measured, purposeful, and risk-mitigated path. It's during these challenging times that the true essence of innovation should shine in securing those much-needed, low-hanging quick wins in Horizons 1 and 2.

Time To Reel It In Now

In conclusion, this parable serves as a poignant reminder to slow down, reevaluate, and make mindful choices about our way of life, our collaborators, and the goals we aspire to as individuals and businesses alike. In the corporate world, the pursuit of a fulfilling lifestyle often translates into a relentless chase of busyness, driven by the Fear Of Not Keeping Up, or "FONKU."

However, it's essential to remember that "busy" can devolve into mere preoccupation with tasks we have to do, at the expense of what we want to do. The true power of being a corporate innovator lies in the ability to reject and embrace change when necessary while preserving and extending stability for as long as possible during peaceful times.

As corporate innovators, it's high time to embark on a journey of self-reflection and redefine your traditions, carefully considering their value. This entails finding contentment in professional achievements and embracing a balanced approach to progress in both your work and life. Let's collectively redefine our definition of success, laying the groundwork for a healthier, happier, and more sustainable future. Much like seasoned sailors navigating the vast expanse of the sea, let's chart a course where growth and contentment can coexist harmoniously, driven by disciplined corporate innovation. Remember, much like sailing the open sea, your certainty extends only to the waves you've already crossed and those visible on the horizon; beyond that lies uncertainty.

Throughout your corporate journey, amidst the ever-swirling currents of infobesity, societal high tides and the countless wisdom-famished dockers out there chasing trends, it's crucial to maintain a steady sense of direction. Make it a deliberate practice to drop anchor periodically, take stock of your progress, and acknowledge the distance you've travelled to reach your current position and how much further you wish to go on the journey. And, always ensure you, your team and your business know the way back to the shore of your core values and principles.

In these moments of reflection, you'll unearth a deep wellspring of joy, much like the harmonious strumming of a guitar while sharing a glass of wine with your amigos after a triumphant day of fishing. This satisfaction is not a distant dream; it's within your grasp today. Whether your most cherished moments are in your rearview mirror or lie ahead, today is the day to take the steps that will guarantee your best moments are still in view on the horizon. Sometimes, that step might be as simple as humbly satisficing and continuing to do what you're already doing today. Either way, whether life is easy or not for you right now - you're doing a great job just by being here and making it this far, so keep going! You got this!

"The secret of happiness, you see, is not found in seeking more, but in developing the capacity to enjoy less" — Socrates

If you're looking for me, I've got the cricket on in the background, dropped my anchor and I've gone fishing. I encourage you to try it as well. Ahoy! Please and thank you. Boom.

Note: This is written as a dispassionate analysis of a popular parable using the original character profiles for ease of conversation and comprehension, it is not intended to offend or come across as critical of any fishermen or bankers in general (or Mexicans or Americans for that matter as well). Enjoy! Please and thank you. Boom.