Imagination is more important than knowledge?

Albert Einstein  (14 March 1879 – 18 April 1955) was a German-born theoretical physicist widely acknowledged to be one of the greatest and most influential physicists of all time.  We share some of his best-known quotations on Life and Business.

On Being Creative in Business

“Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand.”

Einstein talks in this quote about not just having knowledge. Although knowledge is an essential element of running a business, it is having some imagination and creativity that can springboard your business to the next level. Try applying your imagination to different elements of your business to see if it makes positive changes.

On Looking at Different Viewpoints

“The important thing is not to stop questioning. Curiosity has its own reason for existence. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvellous structure of reality. It is enough if one tries merely to comprehend a little of this mystery each day"

It is very easy to have a one-track mind and to only focus on your own vision for a project or for your whole business. However, you should also look at the viewpoints of others in your team, as questioning them can sometimes allow you to take a fresh approach to a task that you may find is better. Similarly, you should constantly question yourself and your own decisions. When making decisions, ask yourself if there are any pitfalls and what is your expected outcome.

On Always Moving Forward

"The only way to escape the corruptible effect of praise is to go on working."

Sometimes, business leaders are at their most focused when they are facing challenges. They have the determination to push on through the challenges regardless. The mistake that people often make is resting on their laurels when things are going well. If the business is profitable and successful, then it is easy to sail through life at the same stage. Einstein’s quote encourages people to carry on working to achieve the next great thing.

On Applying Rationality to Problems

"We cannot solve our problems with the same thinking we used when we created them"

In this quote, Einstein encourages people to apply some rationality to the way they solve problems, and this also applies to problems in your business endeavours. Often, problems are created by our own mistakes, but Einstein says that you should resolve these problems creatively rather than by using the same way of thinking that landed you in a bad situation in the first instance. This can sometimes mean taking a break away from the situation to allow rationality to apply.

On Persevering Through Challenges

"It’s Not That I’m So Smart, it’s Just That I Stay with Problems Longer"

Tenacity and persistence are key elements of business success. Those who fail in business often do so because they have given up at the first hurdle without trying to find a way through the situation. Einstein spent his entire life trying to solve problems, and this shows what a tenacious man he was. Taking the time to look deeper into the cause of your problems and then find solutions for these is an important part of achieving your goals.

Mistakes are stepping stones for progress

“A person who never made a mistake never tried anything new”.

Einstein's quote highlights the positives of making mistakes in your business. If you try new ways of doing things, then it is almost inevitable that you will make some mistakes along the way. Making mistakes can help you to find the best ways of doing things and also highlight what you should avoid doing in the future. Einstein suggests that if you have not made mistakes, then it is because you have not been ambitious enough in your approach to business.

Simplest approach wins

“Make everything as simple as possible, but not simpler”.

Your business is more efficient and cost-effective if you have simplified the way that you undertake tasks. By choosing the simplest approach, you can save time, reduce production costs, complete tasks quicker, and avoid over-spending on resources. Don't over-simplify things as this can sometimes mean that a task is not completed to the best of your ability.

Focus on your own goals

“Great spirits have always encountered violent opposition from mediocre minds”.

Most people who own or lead a business will face opposition along the way at some point during their business journey. This can come from friends, family members, those working in your business, and even the competition. Stay focused on your own goals and do not get deterred by those who doubt your abilities to achieve success.

Always look ahead

Life Is Like Riding a Bicycle. To Keep Your Balance You Must Keep Moving

Even if you have a business model that works well and a team of talented people working for you who do an excellent job, it is important that you do not become complacent. Business is constantly changing, and it is essential to keep on top of the things that could affect your business. Trends can change, politics and economics can impact how you run your business, and new technology is constantly being invented. Make sure you keep on top of things and do not let your competitors overtake you by moving with the times.

Know Your Team's abilities

"Everybody is a Genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid"

To get the most out of your team, it is essential to recognise each of their individual strengths and weaknesses. Just because a person is lacking in one area, it does not mean that they do not have valuable knowledge, skills, or personality traits that you can put to good use in another area of your business. Recognising the diversity of your team’s talents will help you to allocate the right tasks to the right people, and to achieve the most with their support.

There is always more than one way

“If the facts don’t fit the theory, change the facts”.

Einstein highlights the importance of making changes to achieve a goal. If things are not going well, then the way that you are trying to resolve the situation is clearly not working. Instead, try to look at the problem from a different angle, and apply new strategies to resolve the situation. You may find that by adopting different approaches, you find the perfect solution to your problems.

100% Focus

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason, mastery demands all of a person.”

According to this quote from Einstein, you can only expect to achieve success in your business if you completely devote yourself to making it work. This requires a passion for your business along with determination and focus. Although this is very demanding, you should accept that this is the only way that you will get the most out of your business.

Recognise Your Weaknesses

“Never underestimate your own ignorance”.

A mistake made by many business leaders is to think they know everything about the business and they have nothing to learn. Everyone has weaknesses, and you cannot improve on them without recognising them in the first instance. It is vital that people in business are truthful in their self-analysis to identify their weaknesses. By doing so, they can develop professionally by finding ways to improve on these weaknesses. Alternatively, they can find other people to work in their team who have strengths in their area of weakness, as this will help you to run the business effectively.

Trust Your Own Instincts

“I believe in intuitions and inspirations. I sometimes feel that I am right. I do not know that I am”.

While it is important to listen to the viewpoints of other people, it is also important to trust your own business instincts. Einstein says that he often had a feeling that he was right without knowing if this was true. You should have courage in your convictions and go for what you feel is best for you and your company.

You don't know what you don't know

“The most beautiful experience we can have is the mysterious”.

Regardless of the type of business you have, there are certain elements of your business journey that are unknown until they happen. You can never be sure what will be a success, what challenges you will face, or how far you can take your business. This quote from Einstein suggests that this mystery is the best part of the journey and that the unknown is something that you should embrace.

Celebrate your staff

"A hundred times every day I remind myself that my inner and outer life depends on the labours of other men, living and dead and that I must exert myself in order to give in the same measure as I have received and am still receiving."

In most cases, there is more than one person working in a business. As a business leader, it is essential that you appreciate the value your team brings to the business and its success. While you may have founded the business, come up with the initial ideas, and contributed a large percentage of the work needed to succeed, each individual has also played a part. You are not alone along the path to success, and it is essential that you appreciate this and let your team know the importance of their contributions.

Help your staff to grow

“All that is valuable in human society depends upon the opportunity for development accorded the individual.”

A team works at their best when they feel valued in a company. An important part of recognising the value of staff is to give them opportunities to develop professionally by learning new skills and taking on new responsibilities. Providing your staff with opportunities for development is also beneficial for you and your business, as the opportunities you give them will help them to support your business in reaching the next level.

Embrace the past for its lessons

"The years of anxious searching in the dark, with their intense longing, their alternations of confidence and exhaustion and the final emergence into the light -only those who have experienced it can understand it."

Occasionally, it is important to reflect on what it has taken to reach the point you are currently at with your business. This may mean looking back over times when you faced difficulties, as well as the times when you achieved success. Looking back is an important part of helping you to move forward and fully appreciate how much you have already achieved. When you realise that you have faced difficult times and come out on the other side, it can give you the motivation to continue with your business.

Analyse to see the end result

“Intellectuals solve problems. Geniuses prevent them”’

This Einstein quote teaches us about the importance of being proactive. Although there are unexpected problems that may arise that you must resolve, it is also important to take proactive action to prevent problems from arising whenever possible. To do this, assess the potential pitfalls and consequences of every business decision you make. Analyse the level of risk when making your final decision. This is a useful strategy to anticipate problems and put things in place to reduce the likelihood of them happening.

Life is in the infinite journey, not in the destination

“I love to travel but I hate to arrive”.

Owning or leading a business is a constant journey and this is something that you should try to enjoy. It is an experience that is unique to each individual. However, Einstein says that arriving at the end of a journey is something he hates. In relation to business, this means that you should constantly strive for more and never consider yourself as having reached your final destination. The feeling that you have achieved everything that is possible and that you have nowhere else to go can in itself give you a sense of deflation.