Sep 8

Failure is essential to an entrepreneur’s future success

Failure…, or more precisely, recognizing and learning from failure is indispensable as an entrepreneur. The goal is to recognize and learn when your course is off track more quickly, forgoing much expense on a failed course.

Hence this mantra…

Fail fast

Fail cheap

Fail often

And you will be closer to a viable MVP than without any failure. For when we succeed, we frequently attribute the wrong reasons for success. Failure is so pronounced, revealing, and helpful in determining what works and why. So don’t fear failure, rather fear not getting up each time to do a better job.

As a business coach, I enjoy reading about post-failure analysis, and the write-ups on why projects and enterprises failed, so that I can learn from others mistakes, and hopefully not have to repeat the same mistakes myself. There are great books and resources on avoiding project management and business failures. Here are a few that I have enjoyed reading.

Analysis of Project Management Failures

Classic Mistakes

Analysis of Software Coding Failures
https://blog.codinghorror.com/the-long-dismal-history-of-software-project-failure/

Single point of failure in supply chain debacles
https://www.amazon.com/Single-Point-Failure-Essential-Management/dp/0470424966/ref=sr_1_fkmr0_3?ie=UTF8&qid=1473350073&sr=8-3-fkmr0&keywords=colossal+failure+insurance+risk

Colossal Control Failures
https://www.amazon.com/Colossal-Control-Failures-Julius-Caesar/dp/1594515271/ref=sr_1_9?ie=UTF8&qid=1473350022&sr=8-9&keywords=colossal+failure


About 

Severin Sorensen, is a serial entrepreneur, headhunter, executive coach & Vistage Chair, with expert skill sets in senior-level executive recruiting and search, who finds great passion in igniting executive and company performance, high growth business models, growing management teams, & leveraging LEAN manufacturing processes for execution success.

    Find more about me on:
  • googleplus
  • linkedin
  • twitter
  • youtube