Subscribe

The most powerful word in business

Network Ten executive general manager and advertising guru Russel Howcroft has an important message for business leaders: don't say 'no'.

This doesn't mean accepting any old idea that comes your way, he told ANZ's Matt Boss on video, but making sure new and different ideas are given every chance to succeed.

" I think what happens a lot of the time is we're presented with an idea… and if it's slightly scary or out of the box, or its new, we get to 'No' way too quickly."
Russel Howcroft, Network Ten executive general manager and advertising guru

The most powerful word in business

“The most powerful word in business is no," Howcroft said. “Once it's said, that's it, it's all over. I think what happens a lot of the time is we're presented with an idea… and if it's slightly scary or slightly out of the box, or its new, we really get to 'No' way too quickly.

“What I would suggest… is saying, 'Why do you think that's a good idea? Let's talk about it a little more and convince me, persuade me'."

Howcroft said businesses need to not be afraid of failing in the right way: finding out what went wrong and learning from it.

“I think a lot of business culture is around fear," he said. “That doesn't create an atmosphere where people feel comfortable owning failure."

“[Staff will] try hard to avoid the tough conversations… because they'll get labelled as the person who failed on that one. We should go the other way."

Meanwhile, as social media continues to rise as a powerful marketing tool, Howcroft warned marketers may have overcommitted to digital advertising and a correction could follow.

“I think there's been an overindex into digital," he said. “I think what's happened is the digital world has done a brilliant job at selling… and the broadcast world has done a terrible job. I do think there'll be a bit of a correction."

He also touched on his attitude toward flexible working. Watch the video above for more. 

Matt Boss is managing director of products & marketing at ANZ. Howcroft's book, When it's Right To Be Wrong, is available from Penguin Australia.

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

editor's picks

04 Mar 2016

Three common business mistakes made in Asia (and how to avoid them)

Leon Gettler | Veteran and highly regarded management journalist

There are many stories of companies failing in Asia because of messages lost in translation. The cultural difference can be stark.

07 Mar 2016

Can 'womenomics' really make Japanese women happy? And save the economy?

Elizabeth Masamune | Managing Director of @Asia Associates Japan

'Abenomics', Japanese prime minister Shinzo Abe's 'three-arrow approach' to revitalising the world's third-largest economy has become well known globally, if not always well understood.

11 Mar 2016

Is teamwork bad for your career?

Kath Walters | Content marketing consultant and freelance journalist

There's a fine line between being a 'giver' at work and being a doormat, as Adam Grant explains in his book Give and Take. Whatever side of the line your actions fall makes a big difference to your career prospects.