Former Disney President Michael Eisner said this concerning innovation and failure, “There’s no good idea that cannot be improved on.” Whether failure is met as an impediment or an opportunity is a matter of choice not destiny. Failure is the propellant of all success. In fact, everything before us is the result of numerous failures combined with courage.
Dorrie Clark in HBR writes of the lessons one can learn from life’s certainty: failure.
Recognize that innovation requires failure. In a world where competitive advantage is increasingly short-lived, as Columbia Business School professor Rita Gunther McGrath has described, successful companies have to bake innovation into their standard processes. But innovation of any sort entails risk and trying new things — and that mandates failure. A 100% success rate implies you’re not doing anything new at all. The goal, says Eric Ries of The Lean Startup fame, is to create a minimum viable product that you’ll fully expect to iterate over time. In some ways, it’s a reframing: it’s not so much that you’re creating something (such as a product or service) that failed; it’s that you’re steadily improving a series of drafts.[…]
Jim Woods is President of he InnoThink Group is a boutique management consulting firm located in Colorado Springs, CO providing leadership development training for small business, Fortune 500 and government since 1987. See our clients. Go>
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