Tag: risk

Opinion

Who’s Afraid of the Failure Crocodile?

“If you want to succeed, double your failure rate”- Thomas J. Watson

We tend to look at failure like a hungry crocodile; dangerous, destructive, and something to avoid at all costs! But…embracing failure can become your business’s competitive advantage. Build a culture that celebrates mistakes! If you’re never failing, you’re probably never really winning either.

Use failure to set the foundation for how you approach everything you do.

If you are daintily tip-toeing around the Failure Crocodile and find everything you do is working, well, then you most certainly aren’t taking enough risks. And probably in that zone which is … Read More »

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Opinion

Innovation and The Leap of Faith

Having the courage and ability to take a risk.

Taking a risk in business or in any way of life is a scary thing to behold. For sure, we could spend hours just talking about the ‘what ifs’ or the ‘but what then’, however when taking the leap of faith into Innovation, we need guts. Guts to commit to an innovation programme.

At the end of the day, it might not work. There’s what we call a leap of faith. When we’re going into an innovation programme, we need that leap of faith when jumping from the downward curve of … Read More »

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lego knight in armour toy about to be crushed underfoot
Opinion

Market Research Assumptions – A Paradox?

Dare to assume during market research – a ridiculously risky thing to do!

You would maybe remember when Coca Cola brought out the ‘New Coke’ which was sweeter like Pepsi… They spent over $4 million developing the new product based on extensive market research using over 200,000 volunteers to blind taste the product. Even though a clear majority preferred the taste of the ‘New Coke’ during these tests, it was doomed to complete and utter failure.

Why?

They assumed.

They assumed that taste was the only reason people bought Coca Cola.

Wrong.

There was a huge loyalty and attachment globally … Read More »

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