Embracing Serendipity: Finding Success in the Unexpected

We are all familiar with King Saul’s story in the Bible, who went searching for his father’s lost donkeys and ended up being anointed as king. My father always said that: “a bit of luck, never killed anyone yet”. We sometimes stumble upon good things without intending to. Opportunity presents itself to us, and if we are in sharp enough, we cease it. In all honesty, how many of you felt a great opportunity has just passed you by and you did nothing? I know it happened to me more than once in my 53 years of this great journey we call life.

"We sometimes stumble upon good things without intending to"

Historical Anecdotes: From Newton to the New World

The discovery of Penicillin, like the discovery of America, were by chance. A fortunate mistake. Same was the rules of gravity discovered by Issac Newton, after watching an Apple drop from a tree.

There is a name for this. Serendipity. If we need to define it it would be something like: “an occurrence and development of events by chance in a happy or beneficial way. It essentially refers to finding something good without looking for it, often while searching for something else entirely.”, though not really a dictionary definition, but you get the notion of it.

There are many books that tell tales of serendipity in the western culture like The Alchemist by Paulo Coelho, Alice's Adventures in Wonderland" by Lewis Carroll, "Candide" by Voltaire, One Hundred Years of Solitude" by Gabriel García Márquez, and more. But, how is this concept visible in business if at all?

Is it only a “feel-good” theory or can we see it in business and success stories as well?

Serendipity in Business: Turning Failures into Fortune

As it turns out, serendipity is very much present in the business world and success stories. Take the Post-It notes for example. Invented by Spencer Silver and Art Fry at 3M. Silver developed a low-tack adhesive, which was initially considered a failure because it wasn't strong enough to be a useful adhesive.

"This 'mistake' of a product became widespread in offices, schools, and homes globally"

However, when Fry used it to anchor his bookmark in his hymnbook, they realized they had a unique product. This “mistake” of a product became widespread in offices, schools, and homes globally. The product's success is reflected in its longevity and the variety of new versions and products that have been developed from the original Post-It notes concept. If you need a rough estimate or more specific yearly revenue data, I might be able to find more detailed financial breakdowns from annual reports or market research analysis, but these typically won't aggregate total revenue since inception. This “mistake” is created a revenue of $37.5 Billion since 1980. Not bad.

From Medicine to Mainstream: The Unintended Journeys of Coca-Cola and Viagra

Another example is of a product invented by John Stith Pemberton as a patent medicine for ailments such as Headaches, Neuralgia (nerve pain), Hysteria, and Melancholy. The original formula included an extract from coca leaves, which contained small amounts of cocaine, and caffeine from kola nuts, both of which were common ingredients in health tonics at the time. The drink was advertised as a "temperance drink" and "valuable brain tonic". This drink gained popularity as a carbonated drink, we now know as Coca-Cola.

"So, ‘The Real Thing’ in sodas, was actually intended to be a medicine"

Pemberton's bookkeeper, Frank Robinson, named the mixture and penned the now-famous Coca-Cola script. In 1886, Pemberton who suffered from bad health and worse financial condition, sold his rights in the Coca-Cola formula to Asa Candler, a businessman who later founded The Coca-Cola Company, for $2,300.

So, “The Real Thing” in sodas, was actually intended to be a medicine. This mistake of a beverage resulted in estimated revenues of $3.5 trillion to date to the Coca-Cola company.

"Originally developed as a treatment for hypertension and angina pectoris, researchers at Pfizer discovered that sildenafil, the active drug, was more effective at inducing erections than treating heart conditions"

There is something about medicines intended for one thing that end up making money doing something else. Originally developed as a treatment for hypertension and angina pectoris, researchers at Pfizer discovered that sildenafil, the active drug, was more effective at inducing erections than treating heart conditions. This led to it being marketed as a treatment for erectile dysfunction, vastly expanding its market. Now vastly known as the Blue Pill (not the one from the Matrix), this reframed medicine is responsible for a revenue stream of $30 Billion.

Chance acquisition: Learning from Leaders in Serendipity

There are some good books on this topic like:

• "The Click Moment: Seizing Opportunity in an Unpredictable World" by Frans Johansson,
• "Where Good Ideas Come From: The Natural History of Innovation" by Steven Johnson
• "The Luck Factor: The Scientific Study of the Lucky Mind" by Richard Wiseman
• "Little Bets: How Breakthrough Ideas Emerge from Small Discoveries" by Peter

I chose to focus this time on “The Serendipity Mindset: The Art and Science of Creating Good Luck” by Christian Busch.

The Serendipity Mindset

"Opportunity presents itself to us, and if we are sharp enough, we seize it"

Concept of Serendipity: Defines serendipity as more than just luck; it's about making unexpected connections and seeing opportunities in the unexpected.

Practical Strategies: Provides actionable strategies for individuals and organizations to increase their chances of encountering serendipitous opportunities.

Personal and Professional Growth: Discusses how harnessing serendipity can lead to significant personal and professional development.

Real-world Examples: Includes a variety of stories from business, academia, and everyday life that illustrate how serendipity can be cultivated and capitalized upon.

Research-based Insights: Combines current research with practical advice, showing how to create environments and adopt mindsets that foster serendipitous encounters.

Networking and Openness: Emphasizes the importance of networking, being open to new experiences, and remaining alert to the potential in every situation.

This book is ideal for anyone looking to understand and implement the dynamics of serendipity in their lives to create and capitalize on opportunities that arise unexpectedly.

Actionable Insights

• Cultivate Diverse Networks: Busch emphasizes the importance of building and maintaining diverse networks to increase the chances of serendipitous encounters. Diverse connections bring different perspectives and opportunities, which can lead to unexpected and valuable collaborations. Actively seek out and engage with people from various backgrounds, industries, and expertise areas to expand your serendipity potential.
• Embrace a Mindset of Openness and Curiosity: Being open to new experiences and maintaining a curious outlook are crucial for recognizing and taking advantage of serendipitous opportunities. Encourage yourself and others to step outside of comfort zones, question the status quo, and explore new ideas and situations. This mindset can lead to discovering new opportunities hidden in everyday occurrences.
• Create 'Serendipity Triggers': Busch discusses the concept of serendipity triggers—actions or environments that invite chance interactions and ideas. This could be as simple as changing your routine, attending a new event, or even rearranging office spaces to encourage random interactions. These triggers can be designed to increase the likelihood of beneficial chance encounters.

• "The Power of Serendipity" - this lecture by Dr. Busch explores how individuals and organizations can harness the power of serendipity to enhance innovation and success. Drawing from his book "The Serendipity Mindset," Dr. Busch provides real-world examples and practical strategies for creating environments where serendipitous opportunities are more likely to occur.
• "Where Good Ideas Come From" - Often featured on TED Talks, this lecture is based on Johnson's book of the same name. He discusses the environments that stimulate innovative ideas and outlines the key patterns and conditions that foster serendipitous discoveries in both science and business. Johnson's engaging storytelling makes complex concepts accessible and entertaining.

• "Amélie" (2001) 8.3/10 - Directed by Jean-Pierre Jeunet and starring Audrey Tautou, this French romantic comedy tells the story of Amélie Poulain, who decides to change the lives of those around her for the better while grappling with her own isolation.
• "Slumdog Millionaire" (2008) 8/10 - Directed by Danny Boyle, this drama explores the life of Jamal Malik, an 18-year-old orphan from the slums of Mumbai, who is one question away from winning India's "Who Wants To Be A Millionaire?" The story unfolds through a series of flashbacks showing how various experiences in his life serendipitously prepared him for the questions asked on the show. The film is a testament to how fate and chance encounters can shape our destinies.
• "Serendipity" (2001) - This romantic comedy, directed by Peter Chelsom and starring John Cusack and Kate Beckinsale, is a quintessential serendipity film.

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