What’s the secret for success in the start-up world? It’s failure! Here’s a short clip of Tina Seelig, Executive Director of the Stanford Technology Ventures Program, explaining the benefits of failing fast and frequently.
Failure is never permanent; but rather, it is a perfectly acceptable part of the entrepreneurial process. In fact, if you’re not failing frequently, then you’re probably not taking enough risk.
“It doesn’t matter how many times you fail. It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you. All you have to do is learn from them and those around you because all that matters in business is that you get it right once. Then everyone can tell you how lucky you are.” – Mark Cuban, owner of the Dallas Mavericks, co-founder of Broadcast.com, founder of HDNet
Here’s the takeaway: In any start-up venture, if you’re not failing frequently, then you’re probably not taking enough risk.
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