""If the size of your failures isn't growing you're not going to be inventing at a size that can actually move the needle." Jeff Bezos's words-written in a 2019 letter to shareholders-suggest a more clear-eyed view of the innovation process than the paradoxical perspectives of many other senior executives. Oh sure, CEOs agree that innovation is important. In fact, 92% say it's a top priority, according to a recent McKinsey article. But at the same time, more than 90% of CEOs say they do a lousy job at innovation."
"Yes, fear of failure-and wariness of the mixed messages they get from management. You can't expect people to take risks, challenge the status quo, and explore new ways of doing things when you measure them on hitting near-term targets with near-perfect accuracy. Innovation requires curiosity, experimentation, and learning-the trifecta I call, "try, fail, learn." Inevitably, projects will fail; people will fail, too. It's normal, and it's high time we normalized it in business."
Many CEOs prioritize innovation but report poor performance because fear of failure and mixed management signals suppress risk-taking. Measuring employees primarily on near-term targets discourages experimentation. Innovation depends on curiosity, experimentation, and iterative learning captured by the phrase "try, fail, learn." Normalizing failure through small, visible rituals and safe experiments makes risk-taking feel expected and energizing. Implementing meaningful metrics that reward learning rather than only short-term accuracy encourages healthy risk-taking. Starting small and institutionalizing safe spaces for experimentation allows organizations to scale acceptable failures and increase potential for breakthrough inventions.
Read at Fast Company
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