Your Revenue Driver

06 March Innovation and Risk Taking (...conservative.)

Conventional wisdom might suggest that innovation is associated with risk.

While some amount of risk is a "fact of life" - Drucker suggests that an orientation towards opportunity is more likely to be associated with innovation than risk.

The most opportunity with the least risk is a target.

There is risk associated with "standing still" or "waiting to be asked."

Today the rapid obsolescence of knowledge is a function of technology advances. This creates opportunuity for the training industry. There is some risk in seizing the opportunty and executing against it.

What is the risk of not doing so?

Replies to This Discussion

Permalink Reply by Paul Terlemezian on March 6, 2016 at 10:55pm

A few years ago my wife gave me a book titled "Risky is the New Safe" by Randy Gage. He offers a simple to state framework that can applied to finding the most opportunity with the least risk. The comments in parentheses are mine, The framework is what I gleaned from reading the book.

1. Be curious (this should be easy for smart people if they can overcome trying to prove themselves "right")

2. Apply a discipline to your curiosity (find a structure that allows complete but not overburdensome research)

3. Discern what you have learned (try to remove your biases)

4. Apply a contrarian perspective (get off the beaten path and perhaps view a path taken by another industry?)