Editor in Chief Amy Cosper on Innovation and the Top 100 Crowdfunded CompaniesOver the past few years, social platforms have blossomed into a marketing playground and proved that communities have power.
ByAmy Cosper•
Opinions expressed by Entrepreneur contributors are their own.
The approach one takes to anything in business can inevitably be broken into two schools of thought: the innovative and the old-fart-esque. Seriously, it's that simple--and it has nothing to do with age. I've seen plenty of old-fart startups and plenty of venerable companies that are always innovating. Both strategies have pros and cons.
那些旅馆ovate find strength and power in experimentation, and they fail a lot more often than they succeed. But fear is never present, and the failures are not dwelled upon. It's sport. In taking risks, these companies uncover new, unimagined opportunities. A side benefit to this path is the adrenaline-producing effect of imminent danger, one that is embraced by great entrepreneurs. Scary? Hell yeah, but that's where things get interesting. Think Red Bull.
The old-fart companies, meanwhile, take a "Hey, you kids, get off my lawn" approach. Their thinking tends to be not of what can be, but instead, what was. Clearly, this is a bad tack that can lead a company to a boneyard of lost opportunities or, worse, the purgatory above the boneyard: no change, no death, just the endless rock rolls down, push rock up, rock rolls down and … repeat. Pretty bleak. The pro here is that it's easy to keep doing what you've always done. But really, that's the only pro. The con is irrelevance. Your competitors are waiting to pounce. So the next time you see kids in your yard, invite them in for a nice game of Candy Crush.
