With Brexit, among other game-changers, around the corner you’d reasonably assume caution to be a business-given.
Brands and marketers are pushing boundaries to create category growth through innovation. Agencies are investing heavily to bring new ways to markets for clients. Both sides of the partnership are collaborating to establish cultures and mind-sets where fear of failure is a yesterday mantra.
The truth is technology and data are moving at the speed of light – making risk [read: innovation] and its inherent reward top of the marketing agenda.
Meanwhile, evidence grows that “permission to fail” is a driver of successful risk and reward. Bruce Daisley, title, offers up the idea of “psychological safety” in a new book “The Joy of Work” which argues that successful risk-taking stems from teams who operate in environments where they can speak up either without being ignored or slapped down.
Many argue that the hunger for risk isn’t just the desire to make money— - there’s the payoff of helping others, colleagues we help develop, and clients, we help to reach new heights.
So, what does risk and reward look like in this new, uncertain landscape?
How do agencies arm their clients with the argument, evidence and confidence to make a case internally? Is there such a thing as a safe risk, and when does playing it safe become a risk in itself? How do you create a culture where risk-taking failure fosters innovation? What does it take to make the first decision and take the first risk?