In today’s episode of The Art of Passive Income, Mark and Scott talk with Stephen Shapiro—StephenShapiro.com.

Stephen is a big deal. He is in the business of company innovation and helps companies like 3M, Proctor and Gamble, Nike, and Marriott improve their innovation practices.

Stephen is also the author of four books and has spoken to audiences in 50 different countries.

Before Stephen became an expert in innovation and helping companies grow he was working at the opposite end of the spectrum in business optimization, which meant he was helping companies shrink and in the process people were losing their jobs. Seeing the impact it had on those who lost their jobs, he decided that he didn’t want to be part of that process anymore. So, he took a leave of absence and then decided to focus on innovation and growth. He created a 20,000 person practice and has never looked back since… that was over 20 years ago.

Join us as Stephen dives deep into the approach of business innovation, including:

• The real definition of innovation
• How he convinces big companies to innovate instead of cut
• Where he sees companies struggling
• The worst advice he has seen given

Plus, so much more!

You can cut expenses and become optimized, however, you can’t cut your way to success. If you start cutting out all the expenses then the revenue is going to take a hit too because the two of them work hand in hand.

There is no end date in innovation. You don’t reach your goals then take your foot off the accelerator and expect your company to keep going at status quo. Innovation is constantly changing and evolving with the market and it’s important to stay on top of your game and always look for new ways to grow and stay relevant in the market.

Jeff Bezos is a good example of that. Jeff founded Amazon nearly 25 years ago, it’s the largest online retailer in the world and his foot is still on the gas pedal. They are still innovating like they are new.

He’s set this long-term time horizon that says, “We are not dealing with today—we are dealing with 500 years from now. We are not done—We haven’t even begun.”

Listen in as we travel deep into the world of business innovation, and find out which 3 CEOs Stephan would invite to dinner and what question he would ask them.

Stephen's book recommendations: 

• Best Practices Are Stupid: 40 Ways to Out-Innovate the Competition written by himself
• Surely You're Joking, Mr. Feynman!: Adventures of a Curious Character -Richard P. Feynman
• Man's Search for Meaning -Viktor E. Frankl
• Orbiting the Giant Hairball: A Corporate Fool's Guide to Surviving with Grace -Gordon MacKenzie

TIP OF THE WEEK

Mark: Learn more about Stephen and true innovation the right way at StephenShapiro.com.

Scott: Check out Checkiday.com. It shows you holidays that you can weave into marketing emails.

Stephen:  Check out PersonalityPokerGame.com. It's a tool for teamwork.

Isn't it time to create passive income so you can work where you want, when you want and with whomever you want?