Innovation and Risk
I agree with the underlying premise, that risk tolerance is a key factor in innovation success. Or as I would put it more simply:
- Fortes fortuna adiuvat – Fortune favors the bold
- He who dares wins
Schwartz has had the pleasure of representing a number of payments innovators, including Peppercoin, Bill Me Later (now a part of eBay) and CheckFree (now Fiserv) – and the willingness to take risks tempered by experience has always been a part of their corporate culture. These companies deal in conservative industries, yet they show that people with a vision, a solid plan and a willingness to take risks can help shape markets and create new markets.
We are seeing this same kind of daring in many markets today – particularly in green tech and healthcare IT. While I am throwing quotes around – let me share another – the perfect is the enemy of the good.
In public relations and in innovation, risks need to be an integral part of what we do. If companies wait for every nut and bolt to be in place – and never question the processes- they will not move rapidly (if at all) and will miss many great opportunities.
Innovation is the center of creating new market opportunities. Forrester Research is very bullish on New Tech innovations in the coming few years and predict that will be the tech area with the greatest growth. I am lucky to work with innovators every day, both at Schwartz and with my clients. With the state of the economy today – investing time and resources in innovation, regardless of your industry, is still one of the best ways to disrupt markets and drive growth.
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