Real innovators are those who don’t shy away from the provocative – those who are willing to openly discuss the topics that are considered ‘taboo’ in the boardroom – like change, failure, and starting over. SmartOrg and KNect365 hosted a webinar on Wednesday, September 13, 2017 at 2:00 EDT on Failing Forward. The speakers tackled how to fail forward, pivot fast, and turn obstacles into opportunities.
David Matheson, Ph.D., President and CEO, SmartOrg, Inc.
Failing at the Right Level – Failing forward works better in some contexts than others. Failing forward at the project level often means the end of the project, which may provide useful lessons for other projects. Failing forward at the portfolio level, by contrast, can lead to pivoting profitably into new opportunities and new ways to exploit the upside of existing opportunities. We need to be mindful of when and how we use the tool of failing forward, so that we use it to our best advantage.
Fail to Innovate: How to Make Failing a Competitive Advantage – A young IBM executive, who just lost millions in series of blunders, was called to a meeting with Tom Watson, the CEO. He asked Tom whether they were going to fire him and instead Tom replied, “Not at all, young man, we have just spent a couple of million dollars educating you.” Everyone knows that failure is part of any innovation journey – but how can you turn this failure into a competitive advantage?
Failing for a Better Future – This topic highlights how we can learn from failure and begin seeing it as the roadway to success. Failure is actually the other side of success. Therefore, it’s vital to begin seeing failure as our best learning tool. As we embrace failure , we stop taking ourselves too seriously and learn what works and what doesn’t. It’s at this point we actually step into failure faster making it less costly in the end. So failing forward is the way to a better future.
Click here to watch the webinar replay in its entirety.