When you use creative professionals, you can achieve huge monetary as well as emotionally gratifying results. Successfully managed, profits from creative teams grow exponentially, like Apple's value growing by 1000% over the past 10 years. However, it takes a proactive effort. If you give up control and hope for the best, you are on the sure road to losing money faster than in a Depression. Studies show that for experienced companies, new products fail at a rate of 35-40% and for average new firms the fail rate is 90%.
The recipe for prospering in all creative businesses is careful planning and briefing. When you clearly define your goals up front and inspire your creative staff, you will create winning products, services and experiences. This sounds like common sense, however most managers continue to let teams work without a clear sense of direction, hoping they will automatically deliver them what they failed to tell them that they wanted.
To read the full, original article click on this link: Soren Petersen: The Creative Economy
Author:Soren Petersen
