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.
When Doing becomes infused with the timeless quality of being, that is success
I think the actresses who are really successful are the ones who are comfortable in their own skins and still look human.
There's no pressure for me to go out there and say, I've got to have a top 40 hit because it's not going to happen.
The success [of Mary Kay Inc.] is much, much deeper than just dollars and cents and buildings and assets. The real success of our Company is measured to me in the lives that have been touched and given hope.
You don't know what it is to be heavyweight champ of the world until you become the heavyweight champ of the world.
Success ... seems to be connected with action. Successful men keep moving. They make mistakes, but they don't quit.
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