The Slovenia Times

The Misfit Economy: lessons in creativity from informal entrepreneurs

Nekategorizirano


Inspiration is probably the most important leadership trait - top leaders inspire other people. However, there is also another point of view: where do leaders get inspiration? You can hardly find an interview with a renowned leader which does not include this question, from nature or art are the most common and expected answers. In most cases, this inspiration ends in a new product or service - the conventional story ...

So, who are the boldest innovators in the world? What is the source of their breakthrough ideas? The usual suspects are Steve Jobs, Thomas Edison, Henry Fords, Mark Zuckerberg. "However," states Kyra Maya Phillips, author of The Misfit Economy, "the 'itch' to innovate is not the exclusive privilege of funky startup entrepreneurs from Silicon Valley or corporate boardrooms." At the 2017 Meaning Conference, held in Brighton, England, she presented her research into the dark side of innovation. Her message was clear - innovation also comes from the ships of pirates, the underground world of hackers, the havens of Mexican drug lords, the enterprising underworld of Mumbai and others who work on the margins of business and society.

Innovation on the fringe.

People operating on the fringes can actually create unique business models and in the process, transform the culture around them.

All over the world, diverse innovators operating in the black and gray economies are developing solutions to all kind of challenges. Far from being 'deviant' entrepreneurs that pose a threat to social and economic stability, these innovators display remarkable ingenuity, pioneer original methods and best practices that we can learn from and apply in our own worlds. A good example comes from the corporate world. The author refers to this in her book - the so-called League of Intrapreneures - which brings together entrepreneurial misfits from across Fortune 500 companies. They build entrepreneurial capacity inside large companies by supporting misfit ideas that generate value for both the business and society. Hierarchies can be overstepped in the service of good ideas. Intrapreneurs come from big companies such as Unilever, BMW, Barclays, GSK and several NGOs, and they are creating a new economic model from within the system.

"The future is an inside job."

Imagine our world in the future. One of the most influential HR thinkers from the UK, Perry Timms, who is known for his famous TED speech, The job is dead, long live work, comments: "...even lifelong meaningful work with more human and fulfilling properties. It sounds too idealistic to be true but can you imagine the workers of the late 1800s looking at how we work now? They would think it fictional and impractical that warm, carpeted offices and hot drinks on demand is the norm for millions of us. In the next stage, it is our chance to be, it is our turn to create something new labelled 'work'."

Misfit innovators operating outside the formal economy are a vital part of our economic history, think Johannes Guttenberg or Nikola Tesla, and will continue to be a part of our economic future. "By 2050, one-third of the world's workers will be employed by the informal economy. In fact, if you combine the annual income of informal markets across the globe, it comes to a staggering US $10 trillion." "This magnitude means that we simply have to care about this: underground innovators have been ignored and misunderstood for too long," stresses Kyra Maya.

Ms Phillips has introduced a series of archetypes that illustrates the diversity of those who make up the Misfit Economy (refer appendix). As the famous bestselling author, Daniel Pink, wrote in his book review: "Think you can't learn anything from outlaws and provocateurs?" This case will make you think again! People operating on the fringes can actually create unique business models and in the process, transform the culture around them.

 

___________________________________________________________________________________

Misfit innovators
Unknown innovators who can teach us that leadership can come from where you least expect.

  • The Gangster

Motivated, loyal, seeks a sense of belonging and shows a willingness to take risks. Most often found in the black market. Has a tendency for territorial behavior and likes to protect their "turf." Operates within hierarchical structures.

  • The Hacker

Anti-establishment, educated, skilled and experimental. Pursues reputation through risk-taking. Most often found online. Holds the values of openness and anarchy.

  • The Unseen

Resourceful, motivated by frugality and a concern for livelihood. Often found within grey markets and the informal economy; dependent on social capital and community for survival.

  • The Copycat

Fiercely independent and competitive. Feels a sense of entitlement to imitate and appropriate. Operates within the shadow or "copycat" markets.

  • The Agitator

Inquisitive, mission-driven, primarily motivated by the need to influence and alter. Displays tremendous ability to mobilise populations. Likely found in antagonism with an existing political structure.

  • The Zealot

Charismatic, visionary, pursues truth and stability. Feels most comfortable when in control. Operates largely in hierarchical structures. Perceives only one reality and has a tendency toward closed-mindedness and orthodoxy.

  • The Provocateur

True individuals motivated by the need for attention; operate in peer-based networks and found mostly in niches bordering on artistic or urban culture. Have a tremendous capacity to shock and provoke.
  

Share:

More from Nekategorizirano