Lessons from my Spotify playlist: Balancing Innovation & Stability

We’re back with another edition of “Engineering 365”. I hope everyone enjoyed the weekend and is in good spirits as we kick off the new week. Over the weekend, I had an “aha” leadership moment that I want to share. Buckle up because we're about to dig into some leadership wisdom inspired by my Spotify playlist.

Go Hard or Stay Home

Picture this: I was driving to get some food with my wife, and I decided to delegate the DJ duties to her. Why may you ask? The reasoning is simple. In our household, whoever is the passenger controls the music selection. For better or for worse – you’d better bring your best tunes because you can and will be boo’ed.

I kid, I kid, we’re not that ruthless.

The journey began, and the first two songs she played were spot on, classics, and personal favorites (I won't reveal them to avoid judgment, but let's just say DMB (yes, that Dave) and Outkast made an appearance).

But then, the third song came along. It was one I hadn’t heard before, and I didn’t really like it, so I promptly hit the skip button. The next three songs, all songs she knows I like, were fantastic, and the fourth was a surprise – a song I rarely listen to, but I loved it! I realized there was a powerful lesson hidden in my wife's DJ’ing strategy: the importance of balancing risk and innovation.

Balancing Risk and Security

As leaders, we're no strangers to risk. Embracing risks is essential for growth, innovation, and industry disruption. However, I’ve often seen that great leaders can combine a sense of security with their risk-taking endeavors. Like my wife mixed in a few surefire hits with a wildcard song, successful leaders know how to keep a balance.

Think of it this way: when you're trying something innovative, ensure that you have your "greatest hits" – those stable, reliable, and proven elements that serve as your foundation. If you're launching a new product, don't toss out the tried-and-true ones just yet. If you’re building out a custom machine, don't abandon the features that your core audience already loves. It's all about maintaining that sweet equilibrium.

All The Greats Do It

Apple is known for its innovation and willingness to take risks, but it also maintains a strong foundation of reliable products like the iPhone and MacBook. While they regularly introduce new and groundbreaking products, they don't abandon their existing product lines, ensuring a stable income stream.

Amazon started as an online bookstore but quickly expanded into various industries, taking substantial risks along the way. However, they've also maintained their core e-commerce business as a secure foundation, allowing them to experiment and innovate in other areas, such as cloud computing with Amazon Web Services (AWS).

Despite being a globally recognized brand, Coca-Cola continually introduces new products and flavors to cater to changing consumer preferences. They keep their classic soda products while experimenting with new beverages, demonstrating how an iconic brand can balance tradition with innovation.

Netflix disrupted the traditional television industry with its streaming service. While they ventured into original content creation, they also retained their vast library of licensed content. This combination of risk-taking and maintaining a secure content base has fueled their growth.

Microsoft's transformation under CEO Satya Nadella is a prime example of risk-balanced leadership. While they remain committed to their core products like Windows and Office, they've expanded into cloud computing with Azure and embraced open-source technologies, demonstrating their willingness to take calculated risks.

Boosting Your Confidence Through Small Wins

Now, here's the beauty of it all: balancing risk and security isn't just a smart strategy; it's also great for your confidence as a leader. When you're knee-deep in a hairy, risky initiative, make sure to sprinkle in a few smaller tasks every day that are easy to succeed in. These daily wins keep your spirits high while you wait for the big risks to pay off. And they keep your team morale high when they don’t have the far-reaching vision that you may have as the leader.

Conclusion

So, there you have it, a lesson in leadership from my Spotify playlist – balance risk and security like a DJ crafting the perfect playlist. It's all about knowing when to go for the classics and when to introduce a little surprise. As we embrace the new quarter ahead, I’m excited to see the incredible innovations and game-changing risks that each of you take while continuing the impactful work that you already do!

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