The document discusses the importance of having a budget for research and development (R&D) and emphasizes that taking risks is essential for innovation. It debates the concept of risk, quoting various figures like Denis Waitley and Albert Einstein to highlight the necessity of proactive approaches over inaction. Additionally, it outlines a structured process for managing risks, focusing on understanding the audience and refining ideas through experimentation.

1. Taking risks where's 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).

6. 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

8. "If you always do what you've
always done, you'll always get
what you've always got."
Henry Ford
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16. It’s more risky to be like everyone
else

17. Corporates and R&D
Apple
= 2% of total revenue
Hewlett-Packard
= 2.6% of total revenue

19. P&G – Connect and Develop

21. Your typical Angel investor

22. The F Word
“I have not failed. I've just found 10,000
ways that won't work.”
Thomas Edison
“To develop working ideas efficiently - I
try to fail as quickly as I can.”
Richard Feynman 1965 Nobel prize
winner
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24. ©lucyinnovation

25. Have a process to manage risk
What are you setting out to achieve?
FOCUS
Seek to understand your audience
INSIGHTS
Only then generate ideas based
IDEAS around your strategic objective and
understanding of your audiences

26. 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

27. Making your case

28. What good influencers do
1. Focus on what you want
2. Get closer
3. Seek first to understand

29. Getting and keeping my risk
budget
1. What does success look like?
2. Why is this a must?
3. What are all the things I could do

30. “Insanity; doing the same things over
and over again and expecting different
results”
Albert Einstein

31. Reading list
www.sofii.org
Uncharitable Dan Pallotta
Switch Chip and Dan Heath
Made to Stick Chip and Dan Health
The Art of Woo G. Richard Shell and
Mario Moussa
Purple Cow Seth Godin
Linchpin Seth Godin
Seven Habits Stephen R Covey
Speed of Trust Stephen Covey

32. Questions
lucy@lucyinnovation.co.uk
@lucyinnovation