Can using business enterprise hazards pay off in a challenging atmosphere?

In a time when anything about functioning a enterprise, of any size, can feel like a hazard – carrying out one thing in different ways, keeping factors the same, reducing back, investing – it may possibly be of functional use (and some comfort) to hear from a company chief on the benefit of chance in business enterprise.

As component of our Figureheads podcast sequence, hosted by Warwick Davis, Alistair Spalding, Artistic Director and Chief Govt of entire world-foremost dance residence Sadler’s Wells, talks openly about the difficulties of model emphasis and the alternatives taking risks can open up up.


You shortly go rusty as a performer. Just performing, you know, finding out traces. If you might be not continually performing that kind of matter, you form of forget how to do it.

Warwick Davis, Actor and host of Figureheads podcast

Good results in any position, in a business of any size, in any sector, relies on practice, dedication, expertise.

Just like actors discovering traces and performers practising choreography, tiny business enterprise owners with little teams, by to directors of HR, procurement, and technology, and CEOs of significant company organizations, all have to have to do their working day positions – to retain their hand in, to study, improve and adapt.

Never has this been much more vital than all through a time that has pressured some businesses to shut for fantastic, and other folks for months and months at a time. Numerous organizations across some of the most difficult hit sectors – leisure, retail, hospitality, leisure and gatherings – have no true plan of what the upcoming appears to be like like.


The factor about dance is you can be targeted on dance, but you can be really varied about all the genres inside it.

Alistair Spalding, Inventive Director and Main Govt, Sadler’s Wells

Alistair’s advice is to emphasis on your main featuring. It can be tempting to check out a ton of new factors in unsure situations in the hope that a thing works. But it is essential to know what you stand for, what your brand name ought to be identified for and what you are great at, or far better at than your competition.

That doesn’t indicate you can not be diverse in what you give your clientele and customers.

For Sadler’s Wells, this implies concentrating on staying a environment-course dance and generation residence, and not also presenting theatre performances, for case in point. Instead, it implies focusing on presenting earth-course dance in all its sorts, supporting a varied portfolio of artists and genres in its programme, from ballet to hip hop.

For corporations in other sectors, this diversification or adaptation may possibly occur in the kind of a new channel. So, the support you provide or the merchandise you market stays the exact, but how individuals access that or get from you alterations. Heading online is the evident case in point.

In the course of the pandemic many additional men and women have began buying on line, out of preference and requirement. It’s no ponder some substantial firms went online for the first time or drastically enhanced their supplying in this spot – supermarkets are a great example of this. And smaller organizations discovered option to adapt too, environment up ecommerce web-sites at breakneck pace to allow clients to go on to guidance them.

Channel diversification can get a large amount of get the job done – there’s chance involved, specifically if it is establishing in new parts or reaching new audiences in means that you haven’t ahead of. Alistair isn’t a dancer or choreographer – he leaves that part to the experts, so he can focus on his very own locations of abilities. That is, supporting artists to produce and make new function, building a numerous and earth-class programme of dance for Sadler’s Wells, and using Sadler’s Wells to additional audiences, in new means and via new platforms.

For a further organization, that may possibly indicate continuing to aim on producing the most effective products, and leaning on authorities to develop your on the net existence, set up an on-line payment gateway so you can choose payments on the web, or improve engagement on social media


When you’re creating new perform, it can be a possibility just about every time. But if you failed to do that, then you would be presenting the very same Swan Lake or Romeo and Juliet that was designed in the 1890s. And if that’s the scenario, then the art variety just dies.

Alistair Spalding, Inventive Director and Main Govt, Sadler’s Wells

Photographic credit score: Rambert Rouge by Marion Motin