Failure and Bankruptcy Are Important Says Gates

With two-thirds of the companies in Silicon Valley doomed for failure, what’s the point? Why waste time focusing on developing a product that is probably going to fail? Why not just pick one that is destined for success, or simply get a job at well-established company?

Being on the edge of innovation most assuredly requires a willingness to invest, and has the potential of complete failure, insane return, or somewhere in between. But, how do you decide when to go all in, or stay safe?

If there were a simple answer, it would be: when the outcome of your investment hooks you to the degree it conjures up your relentless spirit. This insatiable desire to complete the quest that is driving you is success. Throughout the journey, you will learn more about yourself then any job could ever pay.

You might fail. You might think you’ve wasted precious time and resources on a project that failed. You might even feel like a failure. But, did you fail?

Not if the journey was fraught with a variety of emotions, lessoned learned, relationships strengthened, and courage built.

Innovation is the real driver of progress, and progress in and of itself assumes stumbling, falling and getting back up. No one can climb to the top of a slick mountain – the groves are there to help you get traction. Failure is traction.

So, I say be silly, dream big, play big, and collect your groves along the way.

One thought on “Failure and Bankruptcy Are Important Says Gates

  1. Wendy

    I believe in failure in the business world. However, some fields can tolerate only a minimum amount of failure in very specific circumstances. Medicine for one: only experimental drugs and procedures and those who test them are tolerated for failure. Standard medicine expects near perfect results. Yet without clinical trials we don’t get the level of care we have become accustomed to in the US.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>