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How to innovate like a serial entrepreneur – Lessons from successful businessmen

Serial entrepreneurs like David Lolis seem to constantly come up with new business ideas, products, and ventures. The entrepreneurs firmly believe intelligence and abilities are developed through effort and learning. They have a growth mindset, not a fixed one. This empowers them to take on new challenges, learn new skills, and expand their capabilities over time. David Lolis Poker constantly pushes himself outside his comfort zone with new business ventures spanning poker, insurance, real estate, and other industries. He’s a firm believer that if you put in the hard work, you master new areas and skills. This growth mindset is crucial for innovation, so be willing to see abilities and expertise as flexible, not fixed.

Experiment constantly

Serial entrepreneurs don’t just ideate, they experiment constantly. They get into the lab and test different versions, models, and prototypes to see what works. David Lolis Poker brought a relentless experimental approach as he developed his custom poker software, trying out and honing different AI algorithms until he achieved a winning tournament program. Continually build experimental processes into your innovation efforts. Test out partial solutions, get market feedback, be willing to fail, and try new approaches. 

Combine specialized and general knowledge 

Innovators often have deep specialized knowledge in a particular industry or domain, but they complement that with generalized crossover skills – things like business strategy, partner development, branding and positioning, raising capital, and more. This pairing allows them to see things others miss in their core domain while having the business skills to turn ideas into reality. Intentionally develop knowledge depth in a specific area of innovation, but balance it out with generalized business acumen. The combo unlocks creative ideas.

Build multidisciplinary networks

Innovators recognize breakthrough ideas often occur at intersections across different disciplines and perspectives. That’s why serial entrepreneurs build broad personal networks spanning diverse skill sets, industries, and roles. David Lolis reached out to leading players, coaches, theorists, and insiders as he immersed himself in the world of competitive poker. He sampled different playing styles and soaked up cutting-edge math and strategy principles. The multidisciplinary insights allowed him to craft a game-changing tournament approach. Intentionally build networks to gather diverse viewpoints.

Maintain positive energy

Innovation is filled with uncertainty, setbacks, and closed doors. But, serial entrepreneurs stay positive through the ups and downs, firmly believing they will eventually break through. Maintaining upbeat energy, enthusiasm, and passion impacts creative output. Positivity allows entrepreneurs to cope with stressful uncertainties, recover from perceived failures faster, and persist through long journeys of turning ideas into enterprises. Make positive energy a priority on your innovation team.

Balance specialization with generalization

Increasing specialization allows burrowing deeply into a specific domain area to spark connections others will miss. But overly narrow specialization also risks missing obvious cross-industry parallels. Top innovators like David Lolis complement deep expertise with wide generalization. Immersing solely in poker software systems may have limited Lolis’ innovation. However, ongoing real estate and insurance experience sparked crossover insights. The combination of narrow specialization and generalist thinking contributes to the constant innovation of serial entrepreneurs.

Assume innovation is accessible to anyone

Serial innovators firmly believe ongoing innovation is accessible to nearly everyone. But it involves seeing innovation as a process and set of practices, rather than innate skills. Lolis continually experiments with new business ideas by applying a defined innovation methodology. By viewing innovation as skills to develop rather than inherent abilities, entrepreneurs lower barriers preventing wider participation in innovation. Ensure your teams and colleagues view innovation as open and accessible vs restricted to “creative types”. Make it welcoming.

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