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Fri, 16 Nov 2012 10:00:00 GMT | By Max Nisen, Business Insider
15 lessons from the greatest business failures of all-time

Constantly develop new ideas so you don't have to default to bad ones

Entrepreneur Richard Branson (© Maxim Shemetov/Reuters)
  • LA Gear, Mattel's Barbie and Kmart (© Courtesy LA Gear; Solent News/Rex Features)
  • The website is displayed on a computer monitor on June 29, 2011. (© Jin Lee/Bloomberg via Getty Images)
  • R.J. Reynold's 'Premier' cigarettes were not popular with consumers. (© Eric Feferberg/AFP/GettyImages)
  • LA Gear (© Courtesy LA Gear)
  • Entrepreneur Richard Branson (© Maxim Shemetov/Reuters)
  • Coca-Cola launched New Coke in response to the Pepsi Challenge. (© Daniel Acker/Bloomberg via Getty Images)
  • Netscape founder Mark Andreesen made the mistake of ignoring his company's main success, its Internet browser. (© Courtesy of Computer History Museum)
  • A scratched and worn Caterpillar logo. (© Richard Carson/Files/Reuters)
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Constantly develop new ideas so you don't have to default to bad ones

Richard Branson says "yes" a whole lot, but usually to the right things. He keeps a giant array of notebooks, constantly coming up with new ideas so he can plan and execute his ideas, instead of jumping on the first thing that comes to mind.

  • Define your organization on needs and values instead of products.
  • Constantly pursue opportunities. Don't pick the wrong one just because it's in front of you. 
  • Make sure a choice is aligned with a strategy that's been working before making a leap. 

* Video: How Apple has changed

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