How To Manage Creative Risk

1 • @ESKIMON • CREATIVEMORNINGS SINGAPORE, APRIL 2016 • #CMRISK

RISKHOW TO MANAGE

SIMON KEMP • • CREATIVEMORNINGS SINGAPORE, APRIL 2016

CREATIVE

SIMON KEMP@eskimon

Exposure to the chance ofloss or injury.

~ the dictionary

RISK RELATES TO OUR INABILITY TO PREDICT AN OUTCOME WITH A DESIRED LEVEL OF CONFIDENCE

CREATIVITY

Using imagination and original ideas to create something new

~ the dictionary

SO, RISK IS INHERENT TO CREATIVITY: WHEN WE CREATE SOMETHING NEW, WE CAN’T GUARANTEE THE OUTCOME

THREE MAIN TYPES OF CREATIVE RISK

THE INABILITY TO PREDICT RETURNS ON INVESTMENTS

OF MONEY, EFFORT, AND TIME NEEDED TO CREATE

THE INABILITY TO PREDICT HOW OTHER PEOPLE (AND OURSELVES) WILL JUDGE

OUR CREATIONS

FINANCIAL EMOTIONALTHE INABILITY TO PREDICT HOW CREATIVE ACTIVITIES WILL IMPACT OUR HEALTH,

SAFETY, OR FREEDOM

PHYSICAL

MANY OF US SEE ‘RISK’ AS A BAD THING

BUT RISK WORKS BOTH WAYS: IT OFFERS THE POTENTIAL FOR GAINS AS WELL AS LOSSES

THERE CAN BENO CREATIVITY WITHOUT RISK

’Tis better to have created and failedthan never to have

created at all.~ a bastardisation of Alfred Lord Tennyson

...BUT OBVIOUSLY WE’D PREFER TO CREATE AND SUCCEED, RATHER THAN CREATE AND FAIL

SO, HOW DO WE TIP THE BALANCE IN FAVOUR OF SUCCESS, AND GET MORE OF WHAT WE WANT?

DEALING WITH RISK:1. IDENTIFY

2. UNDERSTAND3. MANAGE

CLARITYRISKS ASSOCIATED WITH A LACK OF DIRECTION

HOW DO YOUWIN GOLD AT

THE OLYMPICS?

THE ANSWER DEPENDS ENTIRELY ON WHICH SPORT YOU’RE COMPETING IN

IT’S MUCH HARDER TO SUCCEED WHEN WEDON’T KNOW WHAT SUCCESS LOOKS LIKE

A LACK OF CLEAR OBJECTIVES IS INVARIABLYTHE GREATEST CAUSE OF CREATIVE ‘FAILURE’

WHAT ARE YOU TRYING TO ACHIEVE?

RESPECT ENJOYMENT PRIDE LEARNING

PURPOSE MONEY COMMUNITY POWER

SOME COMMON CREATIVE MOTIVATIONS

BE HONEST WITH YOURSELF: CHOOSE THE ONE YOU FEEL, NOT THE ONE YOU THINK YOU SHOULD CHOOSE

BASED ON THAT, WHAT DOES SUCCESS LOOK LIKE FORYOU 12 MONTHS, 5 YEARS, AND 25 YEARS FROM NOW?

HAVING A CLEAR ‘PURPOSE’ DRAMATICALLY REDUCES YOUR RISK OF NOT ACHIEVING WHAT YOU WANT

...BUT HOW ARE YOU GOING TO SURVIVE LONG ENOUGH FOR YOU TO ACHIEVE THAT SUCCESS?

COMMERCIALISMRISKS ASSOCIATED WITH NOT UNDERSTANDING THE ROLE OF A CREATIVE PROFESSIONAL

ACTIVITIES THAT FOCUS PRIMARILY ON MAKING MONEY

OR INSPIRING CHANGE

ACTIVITIES THAT FOCUS PRIMARILY ON SELF-EXPRESSION OR ENTERTAINING OURSELVES

CREATIVITYAS A JOB

CREATIVITY AS A HOBBY

WHICH DESCRIBES YOUR CREATIVE CONTEXT?

IF YOU RELY ON CREATIVITY TO SUPPORT YOUR LIFESTYLE, YOU’RE A CREATIVE PROFESSIONAL

NO SHIT SHERLOCK

YOU ARE NOT AN ARTIST WITH A RICH BENEFACTOR; YOU ARE A MEMBER OF A TEAM WITH A SET OF GOALS

PROFESSIONAL CREATIVITY IS A MEANS TO AN END: WHAT IT DOES IS MORE IMPORTANT THAN WHAT IT IS

WHAT WE HOPEOUR CREATIONSWILL ACHIEVE

WHAT WE WILL CREATE IN ORDER TO ACHIEVE

OUR DESIRED OUTCOMES

OUTCOMES OUTPUTS

A CRITICAL DISTINCTION

RISK INCREASES SIGNIFICANTLY IF WE FAIL TO UNDERSTAND THE CHANGE CREATIVITY MUST DELIVER

BUT AS CREATIVE PROFESSIONALS, WE USUALLY NEED TO DRIVE CHANGE ON BEHALF OF OTHERS

NOTE:THE REST OF THIS PRESENTATION REFERS TO

THESE ‘OTHERS’ AS CLIENTS, BUT THEY COULD JUST AS EASILY BE PARTNERS, TEAMMATES, BOSSES, OTHER INTERNAL STAKEHOLDERS,

SHAREHOLDERS, OR EVEN REGULATORS.

COMMUNICATIONRISKS ASSOCIATED WITH FAILING TO UNDERSTAND CLIENTS’ NEEDS AND EXPECTATIONS

ANOTHER BIG RISK IS A LACK OF ALIGNMENTWITH CLIENTS ON WHAT SUCCESS LOOKS LIKE

WHAT DOES YOUR CLIENT WANT TO ACHIEVE?

WHATWE

WHAT CLIENTS

WANTSUCCESS

WE ALSO NEED TO UNDERSTAND WHAT RISK LOOKS LIKE FOR THEM, AND HOW MUCH THEY’LL TOLERATE

TIP: USE ‘RISK PROFILING’ TECHNIQUES (SIMILAR TO THOSE FINANCIAL ADVISORS USE) TO IDENTIFY THIS

WHAT YOUR CLIENT HOPES TO ACHIEVE, AND BY WHEN

HOW MUCH UNCERTAINTY THEY WILL TOLERATE ALONG THE WAY

DESIREDOUTCOME

RISKPROFILE

2 THINGS WE MUST CLARIFY AT THE OUTSET

CLIENTS RARELY MATCH OUR TOLERANCE FOR RISK THOUGH, SO WE MUST HELP THEM ‘BUY IN’ TO IDEAS

COLLABORATIONRISKS ASSOCIATED WITH NOT INVOLVING OTHER PEOPLE IN THE CREATIVE PROCESS

MANY CREATIVE PEOPLE PREFER TO TACKLE CREATIVE CHALLENGES ALONE

BUT WE NEED TO REMEMBER THAT SUCCESS IS NOTJUST DETERMINED BY WHAT WE WANT TO ACHIEVE...

WHATWE

WHAT CLIENTS

WANTSUCCESS

WORKING TOGETHER WITH CLIENTS GREATLY REDUCES THE RISK OF MISALIGNMENT

OUR PERSPECTIVES WILL RARELY ALIGN PERFECTLY THOUGH, SO COMPROMISE IS ALMOST INEVITABLE

BUT HOW DO WE CONVINCE CLIENTS TO TRUST OUR ADVICE WHEN COMPROMISE IS THE WRONG CHOICE?

CONVICTIONRISKS ASSOCIATED WITH A LACK OF SELF-BELIEF

SUCCESSFUL CREATIVITY REQUIRES SELF-BELIEF AND FAITH IN OUR INSTINCTS

GO WITH YOUR GUT

WHEN YOU CAN’T FIND A COMPROMISE, DISCUSS THE CLIENT’S CONCERNS IN THE CONTEXT OF OBJECTIVES

SHOW THEM THAT YOU UNDERSTAND THEIR NEEDS, AND THAT YOU’RE NOT JUST BEING A CREATIVE DIVA

EXPLAINING THE OBJECTIVE REASONS WHY THE APPROACH

YOU’RE RECOMMENDING IS MOST LIKELY TO SUCCEED

HELPING CLIENTS UNDERSTAND HOW THE MORE SUBJECTIVE

CREATIVE ELEMENTS IMPROVE EFFICIENCY AND EFFECTIVENESS

LOGIC EMOTION

MANAGING RISK REQUIRES BALANCE

HOWEVER, SOMETIMES YOU’LL NEED TO STAND YOUR GROUND AND ASSERT YOUR PROFESSIONAL EXPERTISE

COURAGERISKS ASSOCIATED WITH A LACK OF BRAVERY

CREATIVITY DEMANDS BRAVERY: IT REQUIRES US TO TRY NEW THINGS, AND BE JUDGED ON OUR CHOICES

NEVER UNDERESTIMATE THE RISKS ASSOCIATED WITH EXCESSIVE SELF-CENSORSHIP AND SELF-CENSURING

EVEN WHEN WE ACCEPT THE NEED FOR BRAVERY, CREATIVE COURAGE MAY BE ANATHEMA TO CLIENTS

SO HOW DO WE STRENGTHEN OUR COURAGE, AS WELL AS THE COURAGE OF OUR CLIENTS?

COURAGE COMES WITH PRACTISE: THE MORE WE DO SOMETHING, THE MORE CONFIDENT WE BECOME AT IT

The harder I work, the luckier I get.

~ Samuel Goldwyn

CONSISTENCYRISKS ASSOCIATED WITH A LACK OF DETERMINATION

ACHIEVING SUCCESS THROUGH EVOLUTION

AND ITERATION

STAKING EVERYTHING ON ONE SINGLE CHANCE OF ACHIEVING SUCCESS

INVESTMENT GAMBLE

TWO POTENTIAL WAYS TO SUCCEED

OVERNIGHT SUCCESS IS INCREDIBLY RARE; MOST OF US WILL NEED TO INVEST A LOT OF TIME AND EFFORT

80% of success is just turning up

~ Woody Allen

SO WHAT ABOUT THAT REMAINING 20%?

IT’S ABOUT TURNING UP EVERY DAY – REGARDLESS OF HOW ‘INSPIRED’ YOU ARE – AND MAKING IT WORK

FAILFASTER?

NONSENSE

I’ve not failed;I’ve just found10,000 ways

that don’t work.~ Thomas A. Edison, on inventing the light bulb

LEARNFASTER

WE ONLY ‘FAIL’ IF WE GIVE UP; EVERYTHING ELSE IS SIMPLY PART OF OUR JOURNEY TOWARDS SUCCESS

HOWEVER, WE MUST ALSO ENSURE WE’RE NOT TOO FOCUSED ON OUR CURRENT PATH AND PERSPECTIVE

COMPLACENCYRISKS ASSOCIATED WITH ARROGANCE OR AN OVERLY INWARD FOCUS

REGARDLESS OF OUR CONVICTIONS, THERE’S A RISK THAT THE WORLD CHANGES RADICALLY AROUND US

THINGS LIKE TECHNOLOGY CAN QUICKLY DISRUPT THE VALUE THAT OUR CREATIVITY IS DESIGNED TO DELIVER

TECH-DRIVEN TRENDS DISRUPTING CREATIVITY

PEOPLE DON’T WANT TO BE INTERRUPTED BY

ADS, AND 50% NOW BLOCK EVERYTHING

THE EXPANDING MEDIA LANDSCAPE, AND THE ASSOCIATED DILUTION

OF ATTENTION

AD-BLOCKINGBY DEFAULT

MEDIAPROLIFERATION

WE ARE RAPIDLY APPROACHING

THE END OF THE ‘SCREEN ERA’

EVOLVINGINTERFACES

WE’LL SOON DELEGATE MUCH OF OUR

DECISION-MAKING TO MACHINES

THE ROLE OFALGORITHMS

WE NEED TO UNDERSTAND HOW THESE CHANGES AFFECT OUR APPROACH AND IMPACT OUR OBJECTIVES

BUT REMEMBER: IT’S UP TO YOU TO CHOOSEHOW YOU BRING YOUR CREATIVE IDEAS TO LIFE

DON’T BE AFRAID TO EXPLORE NEW OPPORTUNITIES TO DELIVER YOUR CREATIVE VALUE IN NEW WAYS

CHANGERISKS ASSOCIATED WITH NOT EVOLVING

EMBRACING CHANGE AND ALL ITS UNCERTAINTIES IS WHAT ‘BEING CREATIVE’ IS ALL ABOUT

SO, CONSTANTLY EXPLORE NEW WAYS TO SATISFYYOUR MOTIVATIONS AND ACHIEVE YOUR OBJECTIVES

BY CONTINUING TO EVOLVE THROUGHOUT YOUR CAREER, YOU’RE MORE LIKELY TO ACHIEVE THE 10TH C...

CONTENTMENTRISKS ASSOCIATED WITH NOT ENJOYING THE WORK THAT YOU DO

...AND IF YOU EVER FIND YOURSELF DISCONTENTED, SIMPLY GO BACK TO THE FIRST ‘C’ AND START AGAIN

1. CLARITY2. COMMERCIALISM3. COMMUNICATION4. COLLABORATION

5. CONVICTION

6. COURAGE7. CONSISTENCY8. COMPLACENCY

9. CHANGE10. CONTENTMENT

THE 10 CS OF CREATIVE RISK

LET’S CONTINUE THIS CONVERSATION...

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SIMON KEMP

@ESKIMON

SIMON@KEPIOS.COM

+65 9146 5356

KEPIOS.COM

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