Taking Risks

A risk to me means you're willing to try new things that can be accomplished in new ways. A lot of questions emerge when you're envisioning what could be. Will this work? We may not be smart enough to see the unintended consequences of things. You need to take risks in an organization; if you don't take risks, then you won't move forward.

There is definitely an advantage in being the first one with a new product or a new technology. You reap the rewards before anyone can catch up. You have to try a number of things. You have to pick your risks wisely. You have to "go boldly where no man has gone before," and if it's a morass, you have to deal with it. It's a tradeoff, like everything else.

We generally look at risk from a business case perspective. We look for what it's going to cost so we can foresee the consequences if we fail. We see risk in different things. In some places, you take low-risk ventures, and in others, you might take high risk, but you don't bet the whole company. There were times when our company took a risk on the Internet. In essence, it was about the company approach. We knew if we weren't on that new wave, then we wouldn't be in business. You have to size up each of the risks. What are the risks of doing something? What are the risks of not doing something? Often the risk of not doing something is greater than the risk of moving forward.

You have to be willing to express your opinions on those issues. You pick the things that make big changes, and you become a proponent. I think you have to be able early on to build a set of allies who say, "This is how we can complement what you're trying to do." You're really trying to make the whole organization successful. I think when we work it from that perspective, then people will help you deal with things. You must be working toward a shared goal.