I am fascinated by our endless capacity to invent new words, and “minnovation” caught my eye some time ago as I was browsing old articles from Harvard Business weekly newsletter article for entrepreneurs.
The gist of the article is that for most of us, the notion of coming up with The Next Big Idea is simply overwhelming. So rather than pursuing an enticing but unreachable entrepreneurial path, we give up, despairing of ever being able to break out of our ruts.
We imagine that the only way to get away from a traditional insurance-based practice is to go all out for a full-blown high-fee concierge practice.
Or we feel compelled to invent, develop and successfully market the next Medical Device of the Year.
Or maybe the pressure of needing to reinvent healthcare delivery entirely, in this rapidly changing world, is keeping us awake at night.
So we procrastinate, plagued by our perfectionism!
However, here is the excuse you can no longer avoid:
In reality, the vast majority of real-life entrepreneurs around the world aren’t innovators. They’re minnovators — mixing small parts of novelty and creativity with huge helpings of flexibility scrappiness and a generous portion of hard-driving execution.
If you yearn to break out of your traditional-but-tiresome medical practice, or merely exercise your emerging entrepreneurial physician muscle, here are a few ways to think about your next move:
- what business or practice process can you tweak, or radically redesign?
- what new spin can you put on the valuable information or education you provide?
- what obstacles do your patients face regularly that they would love to surmount?
- what product would work a whole lot better with a minor (or even major) adaptation?
- what leadership and creativity could you provide to a team or group that is already executing an idea, and doing it poorly, or not well?
How can you become a scrappy, bootstrapping, quick-to-adapt physician “minnovator”?