Tag Archives: Fail Fast

Failing Fast Causes More Failure

One scary statistic is that 70% of change initiatives fail. An overwhelming proportion of new product launches fail. Most new businesses fail. The sad fact is that failure is all around us. Is this why so many organizations talk about a fear of failure being one of their major innovation stumbling blocks? And, so what mantra do many innovation and ...

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Don’t Fail Fast – Learn Fast

There is a lot of chatter out there about the concept of 'failing fast' as a way of fostering innovation and reducing risk. Sometimes the concept of 'failing fast' is merged with 'failing cheap' to form the following refrain - 'fail fast, fail cheap, fail often'. The problem that I have with all of this chatter about failing fast is that does not take into account the power of language. The language focuses people on failing instead of on the goal - learning.

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P&G's Lessons from a Century of Open Innovation

Suffice it to say I was honored my friend Chris Thoen would agree to talk about P&G‘s Open Innovation history at the 3rd Open Innovation (OI) Summit at Baldwin Wallace College‘s Center for Innovation & Growth: Practical Challenges of Global Open Innovation.  Chris has been interviewed, quoted, written about extensively as a leader in OI, including on these pages, and for good reason. ...

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Innovation Best Practice is a Verb not a Noun

One of the central tenets of 20th Century business has been ‘best practices’.   Let’s dissect this veritable oxymoron: Best: highest quality, standing (at a point in time, place and context) Practice: a habit or custom (noun) or to do repeatedly to acquire proficiency Admittedly, and importantly, there are things to learn from others successes and failures.  But, one of the big mistakes companies ...

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