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InnovatingA Doer's Manifesto for Starting from a Hunch, Prototyping Problems, Scaling Up, and Learning to Be Productively Wrong$
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Luis Perez-Breva

Print publication date: 2017

Print ISBN-13: 9780262035354

Published to MIT Press Scholarship Online: September 2017

DOI: 10.7551/mitpress/9780262035354.001.0001

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Risk, Doing, Learning, and Uncertainty

Risk, Doing, Learning, and Uncertainty

Chapter:
(p.261) 9 Risk, Doing, Learning, and Uncertainty
Source:
Innovating
Author(s):

Luis Perez-Breva

Nick Fuhrer

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262035354.003.0009

Your innovating requires you to be more alert regarding what you can do about what you think you know and don’t know. So, the notion of risk as hit or miss is limiting. But what really matters is how well you’re prepared to handle uncertainty. That depends largely on whether you have banked your future on a single thing being true or whether your ideas is robust and ready to survive changes. Show a learning path through a space of opportunity that reduces everyone’s tolerance for uncertainty and that explains how you intend to trade off certainty and risk as you scale up so you do not fail because of something you could have predicted and/or been prepared to ready. Remember, there is no risk at the outset; when risk enters the picture is largely a matter of scale. And if you absolutely must fail, make it come as a surprise to you and everyone, so everyone cherishes what is learned.

Keywords:   Risk, Master RiskUncertainty, Predicting, Doing

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