Discover Why Crazy Ideas Are Good Business

16 December 2022

[Video Transcript]

Crazy Ideas Are Good Business

Insights from 'Loonshots' by Safi Bahcall

We’ve heard of moonshots those larger-than-life, audacious goals that will be game-changers when they succeed.

But have you ever heard of Loonshots?

They are the poor cousins, the crazy ideas everybody dismisses and tells you it would be foolish to even attempt.

But, as Safi Bahcall points out in his 2019 book, Loonshots, these are also the radical breakthroughs, the quirky, out-of-the-box ideas that have the power to transform industries and our lives.

Now, life-saving drugs such as insulin, and statins, radar and GPS, drones, IKEA, and James Bond movies – all of this started off as Loonshots.

Hi, I'm Paul Smith author of the books Lead With A Story and The 10 Stories Great Leaders Tell.

Loonshots says Bahcall tends to thrive in small organizations, start-ups that are willing to take risks and want to try out new ideas, the crazier the better.

Larger organizations, on the other hand, pivot to playing it safe and sticking with what’s proven successful.

And that is a pity because successful loonshots can be transformative and enormous money-makers.

A physicist and entrepreneur, Bahcall traces the science behind why, large groups tend to reject loonshots, while small groups are more accepting and eager to try out crazy, new ideas.

He then offers ways to make even big, growing organizations embrace their wild side and develop loonshots.

Now, we’ve distilled the lessons from this book that will show you what it takes to nurture loonshots in your organization.

You'll find out more about: Why organizational structure matters more than culture when it comes to cultivating loonshots?

What's special about the number 150?

And how to protect fragile loonshots?

Let’s start by understanding why people change as organizations grow in size.

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