Innovation Isn’t About ROI, It’s About Creating Luck

We’re living in a time where data is everywhere. Databases, data warehouses, data lakes, the kind of lakes you could metaphorically swim in. With so much information at our fingertips, it’s no surprise that organizations today are obsessed with automation, optimization, and squeezing out efficiency.

But here’s the thing: in our rush to optimize everything, we’ve left very little room for something that might be even more important, creating luck.

Innovation Is About Increasing the Chances of Luck

When people talk about innovation, they usually bring it back to ROI or some shiny new product or technology. But I think that’s the dumbest way to think about innovation. Instead of seeing innovation purely as ROI-driven, we need to reframe it as something bigger, like Reframing of Innovation, a process of increasing the probability of getting lucky. 

For me, innovation is about increasing the probability of getting lucky. It’s about expanding the range of outcomes and leaving space for the unexpected, those breakthroughs that you could never have predicted but that change everything.

If we only focus on efficiency and optimization, we end up shutting out the possibility of serendipity. And serendipity is often where the magic happens.

Innovation Beyond Products and Tech

True innovation isn’t confined to building new products or launching new technologies. It should span across every corner of the organization:

• Revenue & Channels: Finding creative ways to generate income and reach new audiences.

• Workforce & Talent: Pushing and aligning people in fresh directions.

• Processes: Reinventing operations and delivery mechanisms.

• Customer Experience: Building deeper, more meaningful connections with customers.

• Culture & Creativity: Enhancing content, commerce, and community.

By innovating across these dimensions, we increase our surface area for luck. We open up more pathways for unexpected, positive outcomes to emerge.

That’s why I created something called the Innovation Brain, a document filled with hundreds of tactics to help organizations think about innovation more broadly. If you connect with me on LinkedIn, you can check it out.

The Mindset Shift That Unlocks Breakthroughs

At the core of innovation is a mindset shift. Too many leaders ask the question:

What if this doesn’t work out?

But the real question should be:

What if this works out way better than we ever imagined?

That one change in perspective flips the entire conversation. It shifts us from fear to possibility. It encourages boldness, risk-taking, and openness to outcomes that could exceed our wildest expectations.

For a deeper dive into the mindset shifts required for true innovation, check out my post on embracing vulnerability in innovation

Innovation as Luck Creation

When we embrace this mindset and when we innovate across revenue, talent, processes, customer experience, and culture we give ourselves more opportunities to get lucky.

Because in the end, the biggest breakthroughs don’t come from playing it safe or optimizing every little thing. They come from leaving space for luck to find us and being ready to act when it does.

Frequently Asked Questions

1 - What is the goal behind every innovation?

Innovation aims not just to create something new but to make the most of existing resources. By spotting inefficiencies, applying lean practices, and using tech smartly, it helps organizations work smarter and achieve more.

2 - Is innovation creating value?

Yes. Innovation drives value by improving efficiency, solving problems, and developing new products or services that benefit the organization and its customers.

3 - How does innovation create wealth?

Innovation boosts productivity, letting the same input generate more output. More goods and services get produced, the economy grows, and both businesses and society benefit.

4 - Is innovation a mindset?

Absolutely. An innovative mindset is curious, open, and creative. It looks for opportunities, solves problems, and envisions better ways of doing things, turning ideas into positive change.

About the Author:

Shawn Kanungo is a globally recognized disruption strategist and keynote speaker who helps organizations adapt to change and leverage disruptive thinking. Named one of the "Best New Speakers" by the National Speakers Bureau, Shawn has spoken at some of the world's most innovative organizations, including IBM, Walmart, and 3M. His expertise in digital disruption strategies helps leaders navigate transformation and build resilience in an increasingly uncertain business environment.