In the ever-evolving realm of innovation, a troubling trend is emerging—the rise of self-proclaimed experts with credentials as insubstantial as the pages of the very innovation books they often quote. This prompts us to question whether an individual can genuinely be considered an expert in a multifaceted field based solely on theoretical knowledge or if authentic, hands-on experience is the true differentiator. This discussion inevitably leads us to scrutinize the credibility and legitimacy of those who dub themselves innovation consultants, especially the troubling rise of fake innovation consultants.
Theory vs. Practice: Bridging the Divide
Consider this staggering yet simple truth: the cost of ignoring experience in favor of theoretical expertise can be measured not just in failed businesses but in human lives.
Consider the concept of expertise not as a trophy won through academic pursuits but rather as a medal forged in the fire of real-world experience. It's about being in the trenches, not just analyzing the battlefield from a safe distance. This disconnect between knowledge and practice is alarming, especially when the stakes involve steering companies toward innovation.
The Glaring Gap: McKinsey's Settlement as a Cautionary Tale
Reflect on the example of new MBAs from prestigious firms like McKinsey, armed with the latest business theories but lacking the scars of battle that only hands-on experience can provide. The gap between theory and practice becomes glaringly apparent, as well as illustrated by McKinsey's hefty settlement over their consulting practices linked to the opioid crisis, proof that theoretical expertise can lead to real-world consequences.
Expertise in Innovation: A Surgical Precision Approach
It is necessary to ask the hard-hitting question: would you trust a surgeon who has only learned their craft from textbooks and has never held a scalpel? The medical community unanimously dismisses such a scenario—shouldn't we apply the same rigorous experience standards to innovation?
Innovation Through the Lens of Practical Wisdom
As a consultant, I witnessed the profound impact of practical know-how. It shapes instincts, refines judgment, and brings a deep understanding of problem-solving that academia cannot replicate. To me, real-world experience is non-negotiable—it is the essence of expertise.
Discerning Fake Innovation Consultants
However, it's not all gloom, as authentic experts exist, those who can prove they've weathered the storm of innovation. These professionals bring invaluable insights and are worth the effort to find them. They've not just studied the map—they've journeyed the terrain and know the pitfalls and shortcuts.
A study revealed that startups founded by those with relevant field experience were 350% more likely to grow and succeed than those led by purely academic trailblazers—a sobering reminder of what's at stake when we overlook the value of authentic experience.
Therefore, when considering an innovation consultant, strive for genuine experience. Success in innovation is contingent upon the guidance of someone who has not merely witnessed the journey but has walked it, step by step, innovation by innovation. It's crucial to be led not by a theoretician with a polished resume but by a seasoned expert who has firsthand navigated the labyrinth of innovation. So, choose your innovation guide wisely—your innovation success depends on it. And beware of the pitfalls of relying on fake innovation consultants who may offer more rhetoric than substance.
To learn how to spot fake innovation consultants, listen to this week's show: Spotting Fake Innovation Consultants.
Subscribe: RSS
There’s an even worse fake — prior experience, successful prior experience…. fighting the last war (or 2 wars ago…) McKinsey’s good at that too, lol. If someone like McKinsey fails you, people are loathe to call them out. Not this time – thank heavens! (You did a nice job of helping us understand what happened there.)
In entrepreneurial ecosystems work, traditional economic development folks are “blessed” with deep assumptions on how to help entrepreneurs and fail (but don’t fail badly enough to spur change). And they will proudly share their often-successful experience. The people who do have relevant experience are squeezed out. Any advice for them??
There’s a maxim that nothing’s more practical than a good theory… IF you implement it wisely (and not blindly). But there’s the complementary maxim that nothing drives good there better than experience.
Cheers from Boise! And thanks!