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How can team leaders inspire their team to take risks in digital strategy?

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Taking risks is essential for digital strategy, as it allows you to innovate, experiment, and learn from your failures. However, not everyone in your team may be comfortable with uncertainty, ambiguity, and potential setbacks. How can you inspire your team to take risks in digital strategy without compromising their motivation, performance, and well-being? Here are some tips to help you create a risk-taking culture in your team.

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Nidhi Pandey

Founder, CMO?? Helping Accounting Firms build growth marketing systems & thought leadership personal brands that get…
Luke Sherwin

Leader, Strategist, ex-CMO
Wabiner Douglas Ferrinho

LinkedIn Top Voice | Marketing | Consumer Behavior | E-commerce | Leadership | Entrepreneurship | Digital Business |…

1 Set clear goals and expectations

Before you ask your team to take risks, you need to define what you want to achieve, why it matters, and how you will measure success. This will help your team understand the purpose and value of taking risks, as well as the criteria and standards for evaluating their outcomes. You also need to communicate your expectations for risk-taking, such as how much risk you are willing to tolerate, what types of risks are acceptable or unacceptable, and what consequences or rewards will follow.

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Wabiner Douglas Ferrinho

LinkedIn Top Voice | Marketing | Consumer Behavior | E-commerce | Leadership | Entrepreneurship | Digital Business | Growth Hacking | Product Head | Innovation | Ux Design | ForbesBLK
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Always work with your feet on the ground, set realistic goals, and have real expectations. Be authentic with your team and transparent about things; this will create a lasting, realistic, and more peaceful team.

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Ghada El Khodiry

A strategic digital marketer with life time affair with innovation, loves to take risks on disruptive technologies, and a proud unicorn who challenges the ‘status-quo’.
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In practice, for digital goal setting, the balance between being realistic and being ambitious is important and tough. Thus, build small goals that dials into the bigger goal to be achievable

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2 Provide support and resources

Taking risks in digital strategy requires adequate support and resources from you as a team leader. You need to provide your team with the necessary tools, information, and guidance to help them plan, execute, and monitor their risky actions. You also need to offer your team emotional and social support, such as encouragement, feedback, recognition, and trust. You need to show your team that you care about their well-being, respect their opinions, and appreciate their efforts.

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3 Foster a learning mindset

One of the biggest barriers to taking risks is the fear of failure. You can overcome this by fostering a learning mindset in your team, which means that they see failures as opportunities to learn, grow, and improve. You can do this by creating a safe and supportive environment where your team can share their mistakes, challenges, and insights without being judged, blamed, or punished. You can also help your team learn from their failures by asking them to reflect on what went wrong, what they learned, and what they can do differently next time.

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Nidhi Pandey

Founder, CMO?? Helping Accounting Firms build growth marketing systems & thought leadership personal brands that get consistent leads
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You can inspire your team to take risks in digital strategy by fostering a culture that values experimentation and learning. Try to encourage open communication, acknowledge failures as opportunities for growth, and lead by example in embracing innovative approaches. Learn to recognize and celebrate successes, creating a sense of accomplishment. By instilling confidence, team members are more likely to embrace risks, thus, they'll soon be driving a dynamic and forward-thinking digital strategy.

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Luke Sherwin

Leader, Strategist, ex-CMO
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Providing team members with a supportive and safe environment to learn, innovate and grow is crucial. This support enables individuals and teams to test ideas, foster a learning mindset and launch initiatives that otherwise they may not have had the confidence to launch. Learning "live" is also a great way to get data and market feedback and to adapt, pivot and optimize ideas based on these. As well as taking learnings and insights that can be implemented for future projects.

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Ghada El Khodiry

A strategic digital marketer with life time affair with innovation, loves to take risks on disruptive technologies, and a proud unicorn who challenges the ‘status-quo’.
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I agree and we have rare examples of celebrating failures which bring fear and lack of appreciation into teams. There has to be a planned margin of failure that we accept and even appreciate.

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4 Celebrate and reward risk-taking

Another way to inspire your team to take risks is to celebrate and reward their risk-taking behaviors and outcomes. You can do this by acknowledging and praising your team's efforts, achievements, and learnings, regardless of whether they succeed or fail. You can also provide tangible rewards, such as bonuses, promotions, or recognition, for your team's risk-taking performance and results. By doing this, you can reinforce your team's confidence, motivation, and satisfaction with taking risks.

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Seth Waite

Food & Beverage ?? Market Research & Marketing Strategy
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Risk-taking isn't just about the leap; it's the safety net of knowing you're celebrated, not just tolerated, win or lose. Praise the pioneers, reward the rebels, and watch as your digital strategy gets as daring and dynamic as a blockbuster opening weekend. Remember: - Failures fuel growth stories. - Encourage, don’t penalize, bold attempts. - Iterate fast from feedback loops. - When you have the data, bet big for big results.

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5 Lead by example

Finally, you can inspire your team to take risks by leading by example. You need to demonstrate your own willingness and ability to take risks in digital strategy, and share your own experiences, challenges, and learnings with your team. You need to show your team that you are not afraid to try new things, face uncertainties, and overcome failures. You need to also show your team that you are open to feedback, suggestions, and ideas from them and others, and that you are willing to change and adapt based on the outcomes of your risks.

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Seth Waite

Food & Beverage ?? Market Research & Marketing Strategy
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Dare to jump first—show them how it's done. - Take risks with a portion of your portfolio. - Share struggles, not just triumphs. - Own your failures. Don't blame them. - Welcome ideas and foster innovation. - Adapt, pivot, and evolve constantly. - Data, data, data. When you lead the charge into the unknown, your team will rally behind you, turning 'What if' into 'What's next'.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can team leaders inspire their team to take risks in digital strategy?

1

2

3

4

5

6

1 Set clear goals and expectations

2 Provide support and resources

3 Foster a learning mindset

4 Celebrate and reward risk-taking

5 Lead by example

6 Here’s what else to consider

Digital Strategy

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How can team leaders inspire their team to take risks in digital strategy?

1

2

3

4

5

6

1 Set clear goals and expectations

2 Provide support and resources

3 Foster a learning mindset

4 Celebrate and reward risk-taking

5 Lead by example

6 Here’s what else to consider

Digital Strategy

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