New products, new markets, new investors, and new ways of doing things are the lifeblood of growth. And while each innovation carries potential risk, businesses that don't innovate will eventually diminish.
Interpretation
Innovation is essential for business growth and survival.
This quote emphasizes the critical importance of innovation in business. Adena Friedman highlights that new products, markets, investors, and methods are fundamental to fostering growth. Although innovation comes with risks, failing to innovate can lead to a decline in business performance and relevance in the market.
In practice
This quote can be used to inspire a team during a brainstorming session on new product ideas.
One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.
Many women try to advance in their careers by having all the answers; by being the go-to person for information and advice; or by building expertise in a particular field. However, as they progress, gain broader responsibilities, and grow into leadership roles, they realize that their span of control is too vast to be able to know every answer.
Empowering those around you to be heard and valued makes the difference between a leader who simply instructs and one who inspires.
Every failure brings with it the seed of an equivalent success.
In order to succeed in the world people do their upmost to appear successful.
Good luck is when opportunity meets preparation, while bad luck is when lack of preparation meets reality.
My career was exploding at the same time that social media itself was expanding. But when my online videos were taking off, I didn't think, 'Oh, great! I'm going to be able to parlay this into a career!' I just wanted to be a comedian. I just wanted to perform live.
Money is a good thing, but every morning you have to get up with something no one else in the world gets up with - that's that image. That face you see in the mirror, you got to love it, and you better do some things that you feel good about inside of you. Of course, money is going to come, but make certain that you do some good with it.
People respect you because they feel you've survived hard times and endured, and although you've become famous, you haven't become phony.
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