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Taking Risks. IFC 2012
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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 …

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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Transcript

  • 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 all costs, and that is the risk of doing nothing. Denis Waitley
  • 6. "If you always do what youvealways done, youll always get what youve always got." Henry Ford ©lucyinnovation
  • 7. It’s more risky to be like everyone else
  • 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 Word“I have not failed. Ive just found 10,000ways that wont work.”Thomas Edison“To 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? FOCUS Seek to understand your audienceINSIGHTS Only then generate ideas based IDEAS around your strategic objective and understanding 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 one PILOT audience type LAUNCH Refine 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 risk budget1. 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 different results” Albert Einstein
  • 19. Reading list www.sofii.orgUncharitable Dan PallottaSwitch Chip and Dan HeathMade to Stick Chip and Dan HealthThe Art of Woo G. Richard Shell and Mario MoussaPurple Cow Seth GodinLinchpin Seth GodinSeven Habits Stephen R CoveySpeed of Trust Stephen Covey
  • 20. Questionslucy@lucyinnovation.co.uk @lucyinnovation