Originating from Silicon Valley, “Fail fast, fail often” is used to encourage iteration. Despite its deep roots as a mantra of tech startups, “failing fast” was never widely adopted out of Silicon Valley. While it is unsurprising businesses find it difficult to embrace failing given their risk aversion, now might be the best time to do so. I have survived 3 recessions, yet nothing like Covid-19. With the pandemic having led us to uncharted territories with no playbook to refer to, this is the best time for firms to take the risks they never dared to previously.
As I lead VKT through this crisis, I often feel an inevitable sense of guilt and anxiety as we go through this “test, learn, and experiment” mode. Yet, the only way to ensure survival is continuous hard work and innovation.
In these peculiar times, the design thinking approach is particularly applicable. We have used design thinking to help our clients test, learn and pivot their go-to-market strategies. I have also experimented and learned online tools to conduct my Design Thinking & Innovation online training program to optimize my students' experiences. Change is no easy task, and the pandemic holds no formula. It is necessary to take the calculated risks to move forward.