f you’re not failing, you’re not innovating.
Elon Musk’s words are echoed by most successful entrepreneurs and corporate innovators.
If you’re not willing to fail, then you will only ever embark upon safe, incremental improvements, where you have all the answers and therefore can’t fail.
However, in today’s rapidly moving environment yesterday’s answers are fast becoming redundant and tomorrow’s are mostly unknown. The only way to unlock the answers is by doing, failing and learning from your mistakes.
But failure, done incorrectly, can cost companies millions.
This is why it’s important to optimise the Return on Failure (RoF) in order to support management buy-in, optimise learnings and increase an organisation’s likelihood of success when it comes to innovation.
SO how do we optimise RoF? Listen to this episode of Fast Fix Friday to find out!
Like us? It'd make our day if you took 1 minute to show some love on iTunes, Stitcher or Soundcloud by subscribing and giving us a 5 star rating.
To sign up to our mailing list head to www.futuresquared.xyz
For more information on Collective Campus, our innovation hub, school and consultancy based in Melbourne, Australia, check out www.collectivecamp.us
Relying on raw enthusiasm to drive innovation is not sustainable. This is especially difficult if key stakeholders aren't open to experimentation. In our upcoming "Innovation Manager Crash Course," you will learn the tools and framework to drive cultural change.
Receive thought leadership in the form of blogs, ebooks, innovation resources, videos, invitations to exclusive events as well as the latest episodes of Future², our iTunes chart-topping podcast all about corporate innovation and entrepreneurship.
Access more blogs, podcasts, videos, innovation, tools, ebooks and more just like this one here!