EP370 Risk, Survive, Repeat! | Ken Courtright’s Today’s Growth | Growing Business Today
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About EP370 Risk, Survive, Repeat!
The title of an article in Fast Company back in November 2011 is Risk, Survive, Repeat! They gave twenty examples of major companies that took major risks in 2010 and 2011. Groupon took a risk and turned down $6 billion from Google. Most people would think they’re nuts, but that one turned out to be positive. Nokia decided to not use the Android-based platform in their phones and they instead chose Windows Mobile. How did that turn out? Not so good. Netflix decided to spin off their DVD by mail division which was their whole company in the beginning. How did that work out? Amazing, now they’re one of the biggest movie makers and TV producers in the world. AT&T spent $40 billion on T-Mobile. That also turned out amazing. How can people take risks that are calculated? To do that, you need an R&D department, a research and development department, no matter how big or small you are if you want to survive in perpetuity. Ken throws out some guidelines so that any company of any size can kickstart an R&D department and be able to risk, survive, and repeat.
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