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There's a general belief that failure is the friend of the innovator, but I've come to view it a different way.
Scott D. Anthony
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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
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Of course if you are launching a new business you can thinking about revenues, profits, and so on, but metrics such as customer satisfaction or employee retention might be meaningful if you are focusing more internally.
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I've come to the conclusion that the core characteristic that separates companies that get innovation from those that don't is a simple word: curiosity.
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One of the biggest mistakes large companies make is creating innovation teams that mirror all the functions of the core business. Those teams make no progress because they spent forever updating each other on what they are doing versus really crushing the most critical problems they need to address.
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The most important thing here is to largely ignore what customers say, and instead watch what they do or track where they spend money.
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A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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It's one of the underappreciated skills required by an innovator - they have to be able to convince lots of people to do things that might not be fully rational (invest in the company, join something that is likely to fail, try a product they've never seen before), and if you can't tell a good story it is just very hard to make that happen.
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I think the most important thing to do is to recognize the fundamentally different circumstances of pursuing growth.
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I think it is only in hindsight that you can determine whether something is a mistake or not.
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Mucken Singh works VERY hard on his brawler's physique!
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