Big News: FounderDating is joining OneVest to build the largest community for entrepreneurs. Details here
Latest Notifications
You have no recent recommendations.
Name
Title
 
MiniBio
FOLLOW
Title
 Followers
FOLLOW TOPIC

Question goes here

1,300 Followers

  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur

How comfortable are you with failure?

Everyone that I come accross keeps talking about the failing fast philosophy. I am not a big fan of failure itself...

10 Replies

Joe Albano, PhD
2
0
Joe Albano, PhD Advisor
Using the business of entrepreneurialism to turn ideas into products and products into sustainable businesses.
To me, "Fail Fast" is a somewhat inaccurateshorthand for the lean business process:
  1. Form hypotheses
  2. Perform the fastest, cheapest test possible
  3. Adjust your hypothesesbased on results (pivot)
But I guess that sounds less sexy than "fail fast".
Bob Sharon
1
0
Bob Sharon Advisor
Member and active supporter at Citizens' Climate Lobby
I failed slow, over four years, just pouring good money after bad. Had I have followed some good common sense principles and taken onboard a good advisor/mentor, and had I have listed to those wise people around me, the business would most likely be going today. Having said that, I went through a heavy course at The University of Life that has taught me so many things which I am now applying (though I have still much to learn). So I am now better equipped to move forward, advise others and build our own businesses from valuable lessons learned.
Tom DiClemente
2
0
Tom DiClemente Advisor
Management Consulting | Interim CEO/COO | Coach
Failing, to me, is essential to being successful, by any measure. If you don't fail, you're not trying hard enough, you're not risking commensurate with the rewards you seek. I started in software, then into manufacturing, and then back to software. In all cases, I have been a big proponent of run to failure. In this mode, you keep increasing speed and shortening cycle time until you fail. Failure tells you where to improve so you can make the next step function leap in improvement. It's not that I'm comfortable with failure. You go to bed sometimes worried that you're going to fail. In my experience, it has paid off in all but one situation. That one is out of nine startups in which I was the founder, four mid-sized turnarounds, and three stints as a global CEO of companies in the $billion range. The one failure was one of the startups and losses were minimized. Again, it's not so much being comfortable with failure. If you don't take failure seriously, you don't learn so you are never "comfortable" with the experience. Rather it's a matter of facing failure and using it as a learning experience to leap to the next level.
Bob Sharon
1
0
Bob Sharon Advisor
Member and active supporter at Citizens' Climate Lobby
I agree with you 100% Tom. How many times did Thomas Edison fail until he perfected the light bulb?
Rob Mitchell
0
0
Rob Mitchell Entrepreneur
Senior Java Software Engineer at Direct Commerce
Failing vs fail-fast are different. As already discussed, fail-fast is a technique to try something and adjust/pivot quickly based on initial results. Failing and, dare I include fear of failing, is (IMHO) much worse and probably the #1 reason to get started or progress.

Basically, in the risk/reward equation, you don't even start or continue because of this.

For me, I can't risk my family's well-being on being a dreamer, the risk of failure is to great for those who depend on me. Later on in life, I'm sure I'll take these risks again with much less stress on my shoulders.
Rod Abbamonte
0
1
Rod Abbamonte Advisor
Co Founder at STARTREK / @startupHunter / @startupWay / @CoFounderFound / @GOcapital / @startupClub / @lastminute
It is not comfortable but happen. You can learn or became depress.
Scott McGregor
0
0
Scott McGregor Entrepreneur • Advisor
Advisor, co-founder, consultant and part time executive to Tech Start-ups. Based in Silicon Valley.
The only way to discover the limits of what is possible is to try the impossible and therefore fail. Innovators need to fail frequently to develop products at the limits of what is possible. But then they know for sure what others can only guess and that becomes their competitive advantage. If your Strategy is to avoid failure then you should focus on being a fast follower, rather than being a fast failer.
Bob Sharon
0
0
Bob Sharon Advisor
Member and active supporter at Citizens' Climate Lobby
Spot on Scott. We just keep trying things, most of which are first time innovations. As long as we can learn from our mistakes, get up and fight again, we are in a better position with the guidance of the University of Life or school of hard knocks.
Chicke Fitzgerald
0
0
Chicke Fitzgerald Entrepreneur • Advisor
Game Changing Strategist, Advisor & Technologist | Board Candidate | Zigging where others Zag
Failure is by far the best teacher. Smart entrepreneurs will also learn from the failure of others, versus having to fail firsthand on things that are known problems.

FounderDating is a great place to hear the transparent stories of those individuals.
Dane H. Madsen
0
0
Dane H. Madsen Entrepreneur • Advisor
CEO, SVP Business Development | Domestic & International, Product Marketing | Open to new connections
I define failure as screwing up twice for the same reason - because you learned nothing the first time. You cannot know all you will face in the future, but you should develop your pattern recognition skills to sense when the danger is repeated so you can move around the issue, not into it again. That, by the way, also works for opportunity and success.
Join FounderDating to participate in the discussion
Nothing gets posted to LinkedIn and your information will not be shared.

Just a few more details please.

DO: Start a discussion, share a resource, or ask a question related to entrepreneurship.
DON'T: Post about prohibited topics such as recruiting, cofounder wanted, check out my product
or feedback on the FD site (you can send this to us directly info@founderdating.com).
See the Community Code of Conduct for more details.

Title

Give your question or discussion topic a great title, make it catchy and succinct.

Details

Make sure what you're about to say is specific and relevant - you'll get better responses.

Topics

Tag your discussion so you get more relevant responses.

Question goes here

1,300 Followers

  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
Know someone who should answer this question? Enter their email below
Stay current and follow these discussion topics?