No one likes to fail. But if you’re serious about achieving success, then get ready to fail – maybe a lot.
The key is to “fail well” so that the rewards outweigh the risks, as discussed in a recent Fool article about Amazon’s Fire Phone. If a company truly wants to innovate, it has to be comfortable with some level of failure. There are risks that come with trying something new, but the odds of success in the long run also increase.
Often you can learn more, and grow more, from failure than from success. And there are some interesting ways to learn that lesson – the Wall Street Journal recently ran an article about video games that reinforce the value of failing well.
Are there areas where your fear of failure is holding you or your company back?
PriSim Business War Games Inc. runs and designs customized business simulations that teach decision-makers about business, strategy, finance, and leadership.