In baseball, strategy changes based on the situation. As an example, with zero outs and the bases loaded in the third inning and a tie score, a batter might swing for the fences and try to hit a grand slam. On the other hand, if the situation is one out, bases loaded and a tie score in the bottom of the 9th the hitter will just try to make good contact with the ball to drive in the winning run.
The same is true in business. In certain situations a business can go for a “grand slam” and take a big risk. On the other hand, there are times when just making the simple move will be the right decision.
Some businesses are true “single hitters” in that they take the slow and steady approach and for them, that is the right decision. For others, they are always taking risks and fail a lot, occasionally they might get the big hit and if the timing works, they can be very successful (and when the timing is wrong, they are complete failures).
The extremely successful companies know when to go for the single and when to go for the grand slam. The keep the slow and steady growth going and occasionally take the big chance. They still have the big fails occasionally but the steady growth more than offsets those. The big hits are where they make their big progress.
It’s not that one approach is better than the other but it’s important to know what strategy you are most comfortable with. The risk is when you change your approach out of desperation (for example, a company is desperate for money to pay their day to day bills and take the big risk instead of the simple solution that would solve their short term problems).
Be willing to take the big chance when the opportunity arises but also take the easy wins when they are available.
Have a great day!
PS This will be one of the very few times I will use a baseball analogy because it’s such a BORING SPORT