China Trade War, Personal Flying Devices, and Boosting Creativity at Work

How the Trade War is Impacting Small Business

Despite an effort to minimize current international affairs, it looks as if the United States is now officially in a trade war, one that has expanded since the first well-publicized conversations with President Donald Trump and other global leaders. With tariffs being expanded to upwards of 25% to all Chinese imports (including everyday items like toys and toasters), it looks as if nearly $300 billion worth of products are going to be impacted, and that’s in addition to the previous $250 billion already announced.

 This news isn’t just bad for consumers, but it’s bad for small businesses, too.

 According to the Retail Industry Leaders Association,"The administration's decision to announce a tax on every product coming from China puts America's entire economy at risk.”

 While previously it looked like only “intermediate” goods would be impacted with the tariffs (products that are needed to make other finished products), the latest announcement shows that is no longer the case. As such, businesses small and large around the United States are preparing for the worst.

 For many small businesses that rely on foreign products, specifically Chinese, the additional tariff could prove devastating. Possible options for handling the expanded tariff as a result of the trade war, including raising prices (which would result in reduced sales) and absorbing the extra cost (impossible for small companies with equally small margins), are far from promising, leaving small businesses rightfully concerned about their futures.

The International Competition Making Personal Flying Devices a Reality

GoFly, “a $2 million international competition for the creation of personal flying devices”, is working to make personal flying devices a reality. Launched in 2017, GoFly is helping thousands of innovators from more than a hundred countries around the world to create “various permutations of “jetpacks”.

Determined to help make people fly, GoFly spent a year developing rules and guidelines for its competition, ensuring that all inventions could have the potential of one day becoming adopted by the mainstream. Using universities, media, and industry niches, GoFly has attracted the attention of inventors and innovators who are entering the competition on a rolling basis.

GoFly, which relies on its corporate sponsors (including Boeing) for its budget, operates using three phases: Paper, Prototype, and Final Fly Off. To win one of the phases means you receive both prize money and mentorship, without losing any of your own IP.

As GoFly continues to take off, it’s only a matter of time before you have the option of driving or flying yourself from A to B.

Boosting Creativity by Fighting the Status Quo at Work

For some people, routines are a way of life, a thoughtful strategy for being successful in all areas of life. Unfortunately, these well-intentioned routines might just be the biggest reason why creativity is elusive, especially at the workplace. Having to follow the same routine day after day at work is not only tedious, but it’s boring, which means employees resort to “automating” the way they think, getting the job done  without really considering other options.

Of course, in business, getting tasks done is essential. But, in order to stay in business, companies need to find ways to advance through innovation, which means rigid routines could be stunting long-term growth.

To encourage creativity, businesses can look for opportunities to break-up everyday tasks. For example, one company is using group projects, which address issues it’s currently facing, to help engage employees in work outside of their “wheelhouse”. This type of new challenge helps employees feel valued, but perhaps even more importantly it helps employees find a way out of their monotonous routines.

And it’s working.

According to neuroscientists and cognitive psychologists, routines get in the way of “flexible, open-minded thinking”. In fact, if you really want to encourage creativity, breaking away from your morning routine, whether at work or at home, is essential. This is because “the mental processes that inhibit distracting or irrelevant thoughts are at their weakest in these moments, allowing unexpected and sometimes inspired connections to be made.”

Another reason why routines are bad for creativity?

Routines, according to experts, present opportunities for stress because they can leave you feeling like you are required to do something. And if these expectations aren’t met, you only add to your stress levels, feeling like a failure for the rest of the day. While healthy to some degree, fighting strict routines is a great way to feel better - and more creative - more often.