How to Manage Breakthrough Innovation
HBR On Leadership
Embrace Failure as Fertilizer for Growth
Placing multiple bets in a sizable company can lead to valuable learning experiences, but one should start with the understanding that failure is likely. Instead of avoiding failures, one should aim to learn why previous attempts did not succeed, ensuring new mistakes are distinct and insightful. Failing multiple times in the same area allows organizations to gather 'moonshot compost'—a collection of ideas, experiences, and innovations that ultimately contribute to successful projects. Retaining teams, knowledge, and resources after failures fosters an environment where lessons are leveraged for future success. Therefore, being open to continuous learning from repeated failures is crucial for long-term achievement.
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