How the Magic of Innovation Can Protect Against Volatility

And why we can all learn something from the ancient Stoics…

I was inspired by FuturePrint TECH last week in Cambridge, by the talks, discussions and the innovative energy of attendees, so much so that I had to write the following article, and I hope you like it.

The Stoics would have us believe that it is not the actual impact of a negative event that takes place in our lives that is the problem. Rather our interpretation of its significance. According to this ancient way of thinking, the stoics believe we always have a choice in how we respond to things, and we have the power to reframe it at any time.

Marcus Aurelius said, “If you are distressed by anything external, the pain is not due to the thing itself, but to your estimate of it; and this you have the power to revoke at any moment.”

One step on from that is the notion of 'self-fulfilling prophecy'. If we overthink, worry or stress about something, then we are inadvertently pointing our energy towards the actual thing we do not desire. The law of attraction could take over. If we think we will lose, then we are far more likely to, but if we spin it the other way, then we are far more likely to succeed.

In my talk, I made the point that the backdrop or theme tune right now is one of gloom, and that we do not have to accept this is ours. Instead we could redefine our own story, one that is fuelled by more positive energy of innovation

Why is anxiety such a common response to volatility and uncertainty?

Simply put, anxiety is fear of the future. So it hits us in times of chaos and is typically caused by events that are beyond our control.

It is caused by a human biological malfunction. Much of our human wiring is designed for propagation, so our protective instincts are primed to keep us safe when we are confronted by an enemy, a physical threat that requires fast action to either fight or take evasive action (run away). These same emotions are triggered by other perceived threats which do not pose the same immediate physical danger—that of general uncertainty and volatility. Unfortunately, human biology has not evolved quickly enough to distinguish between them.

As a feeling, it is very strong and profound. Yet if you break it down, it makes no sense at all. Nevertheless, this fear dominates our culture and its current gloomy narrative we so readily accept as the norm. While being aware of macroeconomic factors is sensible, we do not have to follow its energy and over-obsess about it, as it is far beyond our control! There is not much point in investing too much in it and losing our power in the process.

If we believe something will be bad, then it will most likely turn out to be bad. It is not that we need to bury our heads in the sand, but rather that we create a plan in the unlikely event the downside might happen, but we must prioritise our full energy to work towards the upside.

When we are in a state of prolonged anxiety and fear of the future, we tend to become defensive and passive, as opposed to resilient and proactive. Our instinct is to remain safe. And this can cause a vacuum of inertia and diffidence. The twin enemies of innovation! And as people, we then risk becoming a shadow of our former selves. If this infects the leadership of a business, then the Grim CFO is likely to become more prominent in defining strategy (check out previous article for more on the Grim CFO) which of course is always a bit of a downer frankly.

But fear not, it does not have to be that way!!

Last week, at both the Xaar R&D Open Day and at FuturePrint TECH in Cambridge, I was struck by something that even our ancient Stoic philosophers had not thought of. That innovation can help build a resilient layer against external volatility and unwanted anxiety. Innovation is amazing in that it provides people with a purpose, motivation, and energy pointing in a direction that is taking us on a journey into the future.

What is clear, from the talks and discussions in Cambridge, is that if you are motivated by an idea and by its potential, then its magic has a far more powerful narrative than that which dominates TV, social media, newspapers and the internet. This gloomy vernacular is not ours, but we accept it as though it is. We give into its power, and we lose our individual ability to look ahead into the future.

With innovation, we get to play an active role in defining our future. This enables us to take back control and redefine our own narrative as opposed to accepting the gloomy one as ours by staying safe, hiding and complaining.

So I leave you with this thought. I saw for myself last week in Cambridge, the difference between people empowered with ideas and purpose compared with those who perhaps have less influence over their destinies. It's massive.

Innovation provides a defence barrier against the outside world. For a business this is very useful, for a person, it's just plain healthy.

Next stop Valencia! Check out the website here

See you innovators there :)