Are You Constantly Filled With New Ideas?

How innovative thinking affects your personal and financial endeavors

Posted Jun 11, 2018

For some individuals, being the best and getting better means everything. Whether playing sports, beating a personal record or designing a new product, hyper-competitive people constantly seek ways to optimize their performance. These type of people flourish when faced with a challenge and enjoy being praised for their achievements. As children, they were the types that constantly followed their parents, asking, “What is this? Why do we do this? What about that?”

When someone is motivated to be the best, they will innovate and pioneer until they find the optimal way to complete a given project, no matter how small. These type of people endeavor to find faster and more efficient ways to fulfill any goal or accomplish a task. They’re curious, unafraid of trying new things and continuously pushing the limits.

When it comes to finances, this type of person faces a conundrum. Their search for improving processes is antithetical to the typical formula for making money--methodical, plodding, uninteresting. But their creativity might indeed enable them to find new ways to make a fortune.

If you resonate with these characteristics, your Avatar may be the Innovator. Let’s look at the strengths and weaknesses of Innovators and dive deeper into their relationship with finances.

Their Superpower: Improvements

The Innovator excels at making improvements. Nothing fulfills the Innovator more than tweaking a process to find a more efficient way or revamping a product feature to make the final version even better. The Innovator is perpetually on the lookout for new and improved approaches for all things. This embrace of newness helps Innovators find improvements in all aspects of their lives, both personally and professionally.

The Innovator has an uncanny ability to tweak anything, from the simple organization of a garage at home to the line process of a manufacturing plant--and everything in between. While Innovators instinctively share their ideas for improvements with those around them, constant attempts to alter existing systems may put a strain on their relationships. Innovators must be careful not to lower morale or damage relationships through their relentless efforts to make things better.

Their Kryptonite: Change for Change’s Sake

The Innovator’s creativity and innovative spirit are, in fact, a double-edged sword. While their greatest strength is improving processes in all areas, this unending search for improved ways can end up being an Innovator’s’ Achilles heel. Sometimes the Innovator struggles to see that a process doesn’t need to be adjusted to still be effective.

If a process works well, most people agree that it’s best to leave it alone. But Innovators can’t resist tinkering—and this constant desire for improvement can cause confusion and at worst disturb team morale.

Innovators need to keep in mind that change for the sake of change seldom serves the whole. When someone can’t resist changing something against the wishes of teammates, that person may be deemed a troublemaker or a detriment to the organization. Innovators need to ensure that their desire to improve things isn’t perceived as an attempt to undermine existing processes and relationships.

The Innovator’s Relationship with Money

As touched on earlier, Innovators can develop a contentious relationship with their finances. While Innovators seek to improve the way they make and save money, their instinct to constantly shake things up can make it hard to follow a roadmap or proven system.

Traditional methods of making a living and building up savings run counter to Innovators’ instincts. Long-term, slow-and-steady plans of making a fortune don’t offer the opportunities to innovate and tweak processes. This can prove problematic as Innovators eschew convention and welcome variety.

To counter these potentially self-destructive habits of constant change, the Innovator would do well to consult a skilled financial advisor. An experienced advisor can help the Innovator develop a detailed plan, go through myriad ways to improve the plan, and ensure that once the plan is agreed upon, it is left alone. This “set it and forget it” tactic can help Innovators feel that they have crafted the best way to manage their finances.

Key Takeaways for the Innovator

1. The Innovator Seeks to Improve

The Innovator’s ability to find room for improvement in the different facets of life is a gift. When these improvements are desired by the whole team (and therefore do not hinder morale or productivity), they represent the Innovator’s greatest strength.

2. The Innovator Needs to Communicate

Given their quest for innovative, improved processes, Innovators must regularly communicate with the people around them. Communicating the “why” behind any attempts at a process or product improvement can eliminate negative judgments or malice on the part of the listener.

3. The Innovator Rejects Routines

For someone as focused on enacting change as the Innovator, a routine can feel like a death sentence for creativity. Innovators will never live up to their potential when forced into a state of monotony. Keeping opportunities for improvement and exploration on the horizon is crucial for Innovators to flourish.

Innovators act as a driving force for change and process optimization. When they communicate effectively and take precautions, such as calling on financial advisors for expertise, Innovators fulfill their purpose to improve the lives of those around them.

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