In this great video, Eddie Obeng talks about our rapidly changing world and the need to embrace “smart failure.” New technologies and systems have changed the way our world works, yet businesses have been slow in adapting to this change and many models still rely on an outdated worldview.
Obeng claims that the world is changing faster than we can keep up with it, and this is where smart failure comes in. Traditionally, failure has been understood to arise from a lack of knowledge or a default in execution, but those same rules don’t apply to smart failure. Smart failure comes from venturing into uncharted territory and taking on an innovative challenge, something you know nothing about. This kind of failure is important to the learning process and to successful long-term change.
The key lesson to take away from Obeng’s talk is that any major change will carry with it a certain amount of failure. But we don’t need to be afraid of that failure. Smart failure should be embraced as part of the learning process to ensure long-term success. Training employees to take risks and accept smart failure will ultimately lead to greater innovation in the future. While no one likes to fail, sometimes the right kind of failure will be beneficial in the long run.