Want to encourage innovation? Then allow failure
by Josiah Mackenzie on April 28, 2010
3 Comments
3 Comments
I was listening to Silicon Valley venture capitalist Randy Komisar today talk about innovation.
Executives often ask him how they can encourage innovation in their companies.
He comes back with this question:
“Are you prepared to let your employees fail 75% of the time?”
If not, you will never create an environment where people feel comfortable trying new things.
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Article by Josiah Mackenzie // April 28, 2010
Josiah helps hospitality organizations use technology and the social web to provide better service and generate more profits.
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A lot of different teams within businesses are often tasked to be front runners whenever possible. Unfortunately, more often than not, while failure is an ever present risk of attempting to innovate and push the boundaries – most businesses will struggle with resourcing the innovation than grappling with the potential impact of failure.
Josiah, as Mike Moran says in his wonderful book, “DO IT WRONG QUICKLY !!!”
Cheers!
Mihhir Nayak
Nice article. This is true for anything you do in life – you can’t be afraid to fail or you will never do anything big! Likewise, if your business doesn’t permit failure (when going for something big), then innovation is stifled and you will eventually find yourself on the bottom (if you aren’t already).