I’ve been developing my cookery skills over the last few months and (fortunately for all concerned) it’s starting to pay off. As part of this I’ve been reading lots of books and articles for tips and insights.
Some people think I am a businessman or massively strategic,” he said, speaking with PR chief Richard Edelman at the Cannes Lions festival. “[But] I worked out the other day, I took a little review of my 17 years – we’ve done all right, I’ve sold a few books and we’ve made a few quid – I realised that I think I wasted and fucked up about 40%.”
Oliver, who the Sunday Times Rich List estimates is worth £180m, said while the failures have been “painful” he has come to consider the learning curve as research and development.
“I don’t know if that is acceptable or not acceptable,” he said. “That 40% is quite painful. But then I sit back and look at it: Would I change anything? Did the mistakes not teach me powerful lessons? I’m trying to turn those mistakes into what maybe you guys call R&D. What is the percentage of turnover that is right for innovation? What is healthy? Is it 10%, 20%? Is 40% reckless?
It’s a really interesting question. Of course, fixing the budget to a set number is not the point, it’s more it’s use as a rough indicator and to motivate people to think and talk about ‘sustainable innovation’ (even if that goes against vested interests).