Phillip Jones shares with us how to create a risk-taking environment to grow the business faster.
With grateful thanks to our sponsors, Blake Morgan
Glenn: What do you do, Phil, to create an environment where your team of people feel they can take risks to hopefully grow the business faster?
Phillip: I think any leader in the business wants people to take those risks but, of course, they want them to also manage those risks and perhaps not be too extreme with those risks. So one thing that I’ve learned in my career is that actually if you’ve encouraged somebody to take a risk and it goes wrong is to make sure that what you’re not delivering there is a load of criticism around the risk or what happened but to actually reward the fact that they took the risk but then look for the shared learning as you pull it back to say what would we do better next time. So I think it’s for the leader to actually determine the amount of risk that the business actually takes but to also make sure that individuals feel empowered to take that risk in parallel.