Risk is Not a Bad Word

The financial crisis has everyone consumed. The picture is not a pretty one, and clearly it will take us some time to climb out of the mess. However, there is an overwhelming consensus that we will climb out. The question is: How long will it take? People are frightened and consumed by fear. Fear causes people to make poor decisions.

We need to jump back in. And this is where an innovator’s perspective is helpful. Innovators understand that “risk” is not a bad word and shouldn’t automatically be associated with failure as it has been in relation to this financial crisis. Our success as innovators has thrived on the concept of risk. Innovators do their research and test their work. Risk is a factor, but one that can be calculated.

Our clients understand this idea, and in my conversations with them this week, I’ve been encouraged to hear them reinforce their commitment to innovation. They understand the risk involved, but they also understand that an investment in innovation now offers them the opportunity to make major leaps in market share moving forward. Their competitors may be taking a more conservative approach, but when the dust settles and consumers are ready for new and meaningful products and services, they won’t have anything to offer.

At this time in our history we need to increase innovation and the associated risk that comes with it. We need to build our confidence back up and get this economy moving. We cannot afford to live in fear.