You Need to Fail More!

June 26, 2010 by

I was just catching up on my friend, Brad Feld’s, blog and his post of this Michael Jordan Video caught my attention.

One of the points that I make over and over and over is that our culture is stuck with the notion that we must plan and then act and, if there is a failure, then it was either a failure in planning or execution. Most situations and all new situations are unpredictable, so the best approach is to get to a quick implementation, identify the issues and opportunities, and then iterate again. Follow this iterative approach a few times, and you will eventually find almost all the issues and be able to perform at the best level possible. I call this success, but you could also call it failing multiple times. Take a look at the video, it is short and to the point…

Expansion stage companies executing business growth strategies have initiatives that fall mostly into the “hard to predict” category, so try the iterative approach and try to fail more…then congratulate yourselves on your success in failing!