Imagine yourself at the top of a black diamond ski hill with the tips of your skis hovering precariously over the edge. During a recent executive event for the retail drug industry, I was struck by the number of retailers and manufacturers alike adopting a “test and fail” mentality as many pandemic-related challenges have subsided, versus the more arduous and calculated “test and learn” one. A “test and fail” mindset says: “I’m willing to fall a few times along this journey in order to pick myself up, learn on the fly, and ultimately reach the goal. And if the circumstances become unbearable or untenable, I reserve the right to shift gears and try some new direction.”Some of the underpinnings to guide a shift to more of a “test and fail” mindset include:Stretch your mind: You can apply the “test and fail” mindset when using your imagination to uncover new ideas. Reward creative thinking and discovery: Within your own operation, encourage an environment that rewards creative thinking and an attitude of discovery.

Source: Forbes July 19, 2023 11:49 UTC