Friday, May 2, 2008

Take Risks or Be Left in the Dark

When was the last time your company took a huge risk like entering a new market, or trying different pricing strategies? The main theme discussed in this post from the OnlyOnce blog is that to be truly innovative, an entrepreneurial company must be able to see opportunities, and most importantly go after them.

Original flight innovators like the Wright Brothers inspired aviation by taking chances, instead of conforming to the norm. Wilbur and Orville both knew that more knowledge and testing were needed in order to perfect flight. We can take a lot in the basis of innovation from our predecessors.

The next time that you feel as if your company has hit an innovation slump, hold a company poll to rate the level of risks your organization has taken on a scale of 1 to 10. If your organization rates anywhere from 6 and below, chances are that your company is not taking enough relevant business risks that will define it as an “entrepreneurial company”.

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