Amazon’s Jeff Bezos:
A company can become “…failure-adverse and, therefore, unable to invent and pioneer. You cannot invent and pioneer if you cannot accept failure. To invent you need to experiment.”
In order to create incredible solutions, you must risk failure.
Leaders must allow the risk AND the actual occurrences of failure in order to foster brilliant solutions. We cannot give the ball to a senior player, encourage him to push for excellence, then take the ball away send them back to junior varsity because they tried something new and failed. Give the ball back to the senior player, make sure they analyze and learn from the failure, and get them back out on the court to keep pushing for excellence. THAT player will be unafraid to try harder, do more, and will lead the team around them to pursue that same excellence.
I have been looking at the news on Amazon, JP Morgan Chase, and Berkshire Hathaway. These three giants are looking at forming a separate entity that will approach the healthcare industry and I can’t wait to see how that works out! I truly believe that the private sector will be able to do what government doesn’t seem able to do. They are accepting the risk of failure in order to something that might change the world. What do you guys think about it?