Fear of Failure
At a seminar, teaching people new methods of doing business, the biggest challenge for me was the acceptance that an alternative existed.
Is the fear of failure so prohibitive that the possibility of changing the manner in which a process is done or a new practice adopted overwhelms the need to reconstruct or redefine off beaten paths?
The trend for corporations the world over is to innovate and reinvent themselves to fit in an existing market need or a business requirement. While business models get innovated, so must the way we approach business, put a value on the effort and weightage of perceived SWOT.
A new business model springs up a new surprise everyday. New approaches for different markets, customization delivered to the target audience, collaborating with the competition. All of this is innovation and yes - everything has not been innovated or invented yet! There is so much still to be done and the more you start start thinking off the beaten track; the more you will realize the potential of opportunity around you.