Increase Your Failure Velocity
Nicholas Webb
CEO of LeaderLogic? Transforming Top Brands Into Innovation Superstars?. Keynote Speaker on Future Trends, AI, and Healthcare. Bestselling Author Empowering Organizations to Thrive Amid Disruption and Chaotic Change.
In today's landscape of chaotic innovation, the key to thriving is to fail fast and fail smart. Research shows that organizations that experiment the most, fail the most. But here’s the good news: they are also the ones that innovate the best technologies and lead their industries.
According to a study by Harvard Business Review, companies that increase their failure rate see a higher success rate of innovation—in fact, up to 90% of their breakthroughs come from ideas that were iterated upon after initial failure. Another study from McKinsey & Company revealed that 74% of successful companies attribute their growth to bold experiments that involved calculated risk and quick recovery.
The future belongs to those who lean into the blur of chaotic change. Over the next five years, organizations must focus on delivering greater experiential value to customers, embracing emerging technologies like AI and robotic process automation, and building cultures of employee happiness.
Don’t fear failure—accelerate your failure velocity and watch innovation thrive.
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