5 Fruitful lessons from Innovative IT leaders
3. Be Prepared for Failure
Steve Schlet, CEO of clothing maker Duluth Trading Co expressing his disconcern says that "In the corporate world, failure is an F word, and you just don't talk about it." Baba Shiv and his collegues of Stanford say that IT pros have a typical mindset, that is they fear mistakes which they call it as type 1 mindset. Shiv says that companies instead need to adopt the Type 2 mindset that is fear of missing out on opportunities. That would be the innovator’s mindset.
Good and innovative research is a delicate balance between many failures and few successes. The aim of the innovation is known but the outcome is unknown, so there are chances of the innovative ideas to fail, at times they fail miserably. Therefore one needs to get comfortable with failure.
