Ep. 219 - Christian Busch, Author of The Serendipity Mindset on Expanding Your Luck and Serendipity

Inside Outside

On this week's episode of Inside Outside Innovation, we sit down with Dr. Christian Busch, author of the new book, The Serendipity Mindset: The Art and Science of Good Luck. Christian and I talk about how you can expand your surface area of luck and flex your serendipity muscles, both as an individual and an organization. Let's get started.

Inside Outside Innovation is the podcast that brings you the best and the brightest in the world of startups and innovation. I'm your host, Brian Ardinger, founder of insideoutside.io, a provider of research events and consulting services that help innovators and entrepreneurs build better products, launch new ideas, and compete in a world of change and disruption each week. We'll give you a front row seat to the latest thinking, tools, tactics, and trends in collaborative innovation. Let's get started.

Interview Transcript

Brian Ardinger: Welcome to another episode of Inside Outside Innovation. I'm your host, Brian Ardinger and as always, we have another amazing guest. Today we have Dr. Christian Busch. He is the author of the new book, The Serendipity Mindset: The Art and Science of Good Luck.

Christian Busch: Welcome to the show. Thanks so much for having me, Brian.

Brian Ardinger: Christian, I am so excited to have you on the show for a number of different reasons. We can get into the details in a minute, but to give our audience a little bit of background about who you are and that. You teach entrepreneurship innovation and leadership at New York University and the London School of Economics; you direct the Center for Global Affairs and Global Economy Program. I think you've co-directed the London School of Economics Innovation and Co-creation Lab, and you've been in this space of innovation and entrepreneurship for a while.

So, I'm excited to have you on board. And I think I'll start off by talking about how we actually met. You have a book out called The Serendipity Mindset and you have a new article that just came out in Harvard Business Review about how do you create your own career luck? And I was fascinated. I was reading through the article. I said, Oh, this is a perfect person to talk to, to have on the show and talk about this idea of how do you create luck? You know, we talk about invention and creation of new innovations and that. And so many times you hear people talk about, well, it was just luck. And so, I want to get your take on what got you interested in researching and studying the art and science of good luck.

Christian Busch: Yeah, that's a great question because I've had an experience early on in life, a car crash that made me realize how quickly life can be over. And so, its instilled kind of urgency and search for meaning. And, you know, I started reading this Victor Frankel book around man's search for meaning and really dove deep into what is meaningful to me. I realized that what I enjoy the most is connecting people, connecting ideas, seeing how dots connect. And so, over the last years I've been part of building communities, companies, and then doing a lot of research on what makes companies successful, not successful. What makes individuals successful purpose-driven or not successful, purpose-driven.

And one of the things that I found fascinating is when I looked at that kind of whole spectrum, the most joyful, you know, successful people seem to have something in common, which was that they all somehow intuitively cultivated serendipity. They intuitively saw something the unexpected, whenever it happens, they connect dots. They somehow create their own smart luck. And you know, these kinds of people where people around them would say, well, they're just a bit luckier than others. Since I got really fascinated by this question. And I delve deeper into the signs of it, but also then inspiring stories and try to identify what is the science base pattern behind this and how can we make it happen by exercises and other things.

Brian Ardinger: So how would you define the difference between blind luck versus smart luck?

Christian Busch: Yeah, it's really, I mean, if you look at the blind, like this kind of being born into a loving family, or, you know, things that just happen to you without you doing anything versus the kind of smart luck, which is really the active luck, which is about saying it's not just something that happens to us, but it's a process of seeing something and doing something with it.

So for example, you know, picture this quintessential situation of you're in a coffee shop. And if you have erratic hand movements, as I do, you might spill a coffee more often than not. And you know, you spill that coffee. And there's this person next to you and you sense, there's a kind of connection, you know, you just feel, Oh, this could be interesting. And you know, you now have two options, right? Option number one is, you're just saying, I'm so sorry. Here's a napkin. And that's it. You leave it at that option. Option number two is you strike a conversation. You see some potential overlaps and it might grow into a potential love relationship or become a cofounder, whatever it is.

And then obviously this really bad feeling when you had option number one happen. You walk outside, you're like, ah, I should have talked with this person. Right. And so that is serendipity missed, and that is smart luck missed. So, what we're seeing here is that it's really about what is our proactive decision that we make in the moment when the serendipitous or when that kind of unexpectedness happens. And so, in a way, serendipity is all about making accidents more meaningful, but also making more meaningful accidents happen.

I think in the business context, I guess you have a lot of people also who are running businesses in the audience. And so, one of my favorite examples is a company in China. They produce washing machines and other white goods. And, you know, they had farmers call them up and saying, Hey, look. We're trying to wash our potatoes and it always breaks down this machine whenever we try to wash out potatoes and what would we usually do when something unexpected like this happens, we would say, well, look, this is a washing machine for clothes. Don't wash your potatoes in the washing machine. Right.

But you know, they did the opposite. They said, you know what? This is unexpected, but there's a lot of farmers in China who might have the same problem, but actually they want to have their potatoes washed. So, they added the dirt filter and made it a potato washing machine. The point here is that when they look back now, they're Oh, it was just lucky that we learned from farmers X, Y, Z. Yeah, but you work for it. You did something about it. You saw something in the unexpected. And that's the same with everything from Viagra to how we met the love of our lives, all these different things. They were practice decisions rather than just happening to us. We had to do something about it.

Brian Ardinger: Let's talk a little bit about that. In the article that you wrote in Harvard Business Review, you talk a little bit about how you can expand that surface area of luck. And you talk about specific practices that people can do as far as one of them being setting hooks. So maybe let's talk a little bit about what does it mean to set a hook for serendipity.

Christian Busch: Yeah, that's one of my favorites. So essentially, it's something that I've...