Taking Risks. IFC 2012

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Developing new ways to raise money and awareness involves risk. Taking risk to develop new products and income streams is part of most corporate business models. Yet charities are much more risk adverse. If we are not prepared to take risks, how can we develop powerful learning curves that ultimately enable us to make a bigger difference for the causes that we fundraise for?

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  • 1.Taking risks wheres your R&D Budget?Lucy Gower

2. Do you have a R&D budget? 3. What is risk? 4. What is risk?Risk is the potential that an action (including the choice of inaction)will lead to a loss (an undesirable outcome). 5. Life is inherently risky. There is only one big risk you should avoid at allcosts, and that is the risk of doing nothing. Denis Waitley 6. "If you always do what youvealways done, youll always getwhat youve always got."Henry Fordlucyinnovation 7. Its more risky to be like everyoneelse 8. Corporates and R&DApple= 2% of total revenueHewlett-Packard= 2.6% of total revenue 9. P&G Connect and Develop 10. Your typical Angel investor 11. The F WordI have not failed. Ive just found 10,000ways that wont work.Thomas EdisonTo develop working ideas efficiently - Itry to fail as quickly as I can.Richard Feynman 1965 Nobel prizewinner lucyinnovation 12. lucyinnovation 13. Have a process to manage risk What are you setting out to achieve? FOCUSSeek to understand your audienceINSIGHTSOnly then generate ideas based IDEASaround your strategic objective andunderstanding of your audiences 14. Have a process to manage risk Make it real, draw it, role play it, PROTOTYPE say it Small scale one geography onePILOT audience type LAUNCHRefine make changes and launch 15. Making your case 16. What good influencers do1. Focus on what you want2. Get closer3. Seek first to understand 17. Getting and keeping my riskbudget1. What does success look like?2. Why is this a must?3. What are all the things I could do 18. Insanity; doing the same things overand over again and expecting differentresultsAlbert Einstein 19. Reading list www.sofii.orgUncharitableDan PallottaSwitchChip and Dan HeathMade to Stick Chip and Dan HealthThe Art of Woo G. Richard Shell and Mario MoussaPurple CowSeth GodinLinchpinSeth GodinSeven HabitsStephen R CoveySpeed of TrustStephen Covey 20. Questionslucy@lucyinnovation.co.uk@lucyinnovation