Taking a risk is one of the most validating moves you can make in business, relationships or any aspect of your life. It empowers you to make things happen, not wait for things to happen to you. Even risk can be managed or leveraged with setting clear goals and following through on them.
This summer, Nintendo took a huge risk: left their devices behind and launched Pokemon Go. You might be wondering, how was this a risk, Farbz? Let me explain. Nintendo had a very specific business plan built around hardware and licensing agreements. The games had to be played on the consoles; the characters didn’t leave the games, and everything was great. But then they started losing market share to the app creators and games that could be played on any device. This moment raised the question of whether or not to branch out and embrace the app market.
The risk Nintendo took was exponential. Not only did they leave hardware behind, but they also took the app up a notch by adding movement and real-time adventure to the game. The game got angsty teenagers, young kids, Millennials, Gen Xers, introverts, extroverts all out into the world, exchanging tips and looking each other in the eyes. (When they weren’t trying to catch an elusive Pikachu and staring at their screen). The game not only improved Nintendo’s market share, but it also changed the way developers will approach design from this moment forward.
Nintendo is a big company that took a huge risk. You can do the same and open yourself up to innovation, new markets, new relationships, even a new way of looking at the world. Remember these few tips, hunters:
Jump with your eyes OPEN. Know the risk you are taking, look at the worst case scenario if things don’t work out. Then think of the cost of not taking the leap. Can you afford that? Life is worth taking a chance, taking a shot, getting into the game and catching ‘em all. GO!
