GOOD FAILURE VS BAD FAILUREApril 20, 2023 2023-09-28 11:29
GOOD FAILURE VS BAD FAILURE
GOOD FAILURE VS BAD FAILURE
The dichotomy between success and failure is a fundamental topic in the startup world. Within the realm of failure alone, a binary opposition between good and bad failure has emerged as an intriguing and complex discussion point. While it may seem counterintuitive to associate failure with anything positive, the notion of good failure emphasizes the value of learning from mistakes and using those lessons to achieve better outcomes in the future. In contrast, bad failure suggests a lack of effort or accountability, where the same outcomes are repeatedly produced without improvement or growth. The examination of good vs bad failure is an important area of research for understanding how failure can serve as a valuable tool for personal and professional development.
Greetings and welcome to another installment of Entrepreleaders. My name is Erouane Langard and the topic I wish to address today concerns the notion and concept of failure. Upon observation, it has come to my attention that a common issue experienced by individuals approaching the initiation of a business is the daunting trepidation of encountering failure. Startup entrepreneurs appear to exhibit a growing fear towards encountering failures, which has been observed to elicit noteworthy levels of distress. Entrepreneurs embarking on a new venture or revisiting a past enterprise are often besieged with apprehension regarding the possibility of failing.
Initially, it is pertinent to address the factuality that a sense of apprehension towards failure is a commonplace occurrence. The idea that certainty should not be feared holds significant implications, as it suggests that fear arises only in the face of uncertainty. The present discourse aims to provide instances of certain determinates that are inherently ingrained in our existential reality. For me for instance, the summer season fails to garner my appreciation due to its excessively warmth, perspiration-inducing, and remarkably distressing nature. It is a known fact that each year follows the same seasonal patterns, leading to an anticipated period of high temperatures. Consequently, I am aware that during this season, my level of discomfort is likely to be significant. I do not harbor any apprehension towards the impending arrival of summer as it is a well-established fact that it will inevitably transpire. Anticipating the arrival of an imminent event, I am able to make necessary arrangements, including but not limited to acquiring an air vent machine, and verifying the refrigerant level of my air conditioning apparatus. The ability to proactively address potential obstacles is within my purview due to my awareness of future events.
An additional illustration warrants consideration: namely, the predictable occurrence of the sunrise each morning. Veracity is attributed to the notion that certain individuals harbor a strong inclination for the elongation of night time. Regrettably, veracity dictates that the night period shall endure merely for a brief span ere the advent of daylight.
The conclusive eventuality that I intend to illustrate is the phenomenon of mortality. Mortality is an incontrovertible certainty. Since our birth, we possess an innate awareness of mortality. It has been my observation that individuals have not been known to exhibit significant levels of distress and anxiety upon being confronted with their mortality. It can be posited that a minority of individuals may experience the aforementioned ailment as a medical condition. On a typical day, the contemplation of mortality is not at the forefront of our minds due to the realization of its inevitable occurrence. This recognition renders the topic a non-immediate concern in our daily thoughts. The inherent appeal of certainty lies in the acquisition of knowledge and resultant assurance of anticipated outcomes. Consequently, the aforementioned phenomenon no longer instills fear within us; however, we harbor a desire for its occurrence to transpire at a more distant point in time.
The inevitability of failure is comparable to that of death, or the regularity of sunrise at dawn, and even the predictability of summer’s seasonal arrival. Aspiring young entrepreneurs are often susceptible to feelings of hesitation and trepidation with regards to potential setbacks or failures. However, it is imperative that one is encouraged to persevere in their endeavors despite such concerns. Failure is an inevitable aspect of various undertakings. Therefore, it is crucial to examine the different kinds of failures that one may encounter, notwithstanding the possibility of failure itself. This article aims to discuss two types of failures that individuals may experience.
The initial type of failure is termed as “Bad Failure” in Entrepreleaders language. An undesirable form of failure occurs when the outcome of the failed attempt impedes our capacity to gain knowledge and insight from the experience. Arrogance represents an example of a phenomenon that thwarts the acquisition of knowledge. Errors are not readily discernible when one possesses the traits of arrogance, pride, or complete ignorance. The attribution of failure as a mere happenstance rather than a consequence of personal agency is prominently espoused. In this instance, it is imperative to acknowledge the potential for failure to ensue as a consequence of flawed cognition or unethical behavior, of which we may not be cognizant. In the event that an individual is unable to assume accountability for a shortcoming, their capacity to acquire knowledge from it is impeded.
An additional illustration will be provided. Engaging in play with my young daughter, who is approaching her second year of life, brings me immense enjoyment. Running is a game that elicits great affection amongst our group, and one that we relish indulging in together. During the course of our running game, it has been observed that she experiences frequent falls. Typically, I initiate locomotion in advance of her pace and subsequently decrease my velocity, while she endeavors to keep pace but succumbs to a stumble. To the best of my knowledge, I have yet to perceive her engaging in introspective contemplation regarding the potential causes of her falls. No observable attempts have been made by her to enhance her posture or establish optimal foot positioning whilst engaging in running activities. Despite persistently running down the identical path, the comparable outcome consistently transpires as she stumbles and topples over. An attempt was made to elucidate the causative factors that led to her fall and a comprehensive analysis of the anatomical components involved in her running mechanics, particularly her leg and posture, was performed. Despite my attempts to offer guidance, she exhibited a reluctance to acquire knowledge from me, resulting in a continued propensity to stumble. The veracity of the matter is that my daughter, at a tender age of 22 months, is bereft of the cognitive capacity and pertinent knowledge to ponder over the causality behind her falls. The corollary of this deficiency is a continuous cycle of defeat and shortcomings. The present instance may be regarded as a serious manifestation of failure. The predicament posed by negative failures resides in their inherent tendency to reoccur in some form or fashion. To the young entrepreneurs in attendance, I urge you to recognize that failure is an inevitable aspect of entrepreneurship. The desire for a reduced incidence of undesirable failures and an increased prevalence of favorable failures is expressed, yet the intended meaning necessitates elucidation.
The concept of a positive failure can be characterized as an experience in which an individual incurs an unsuccessful outcome, yet ultimately derives educational benefits from it. Specifically, a good failure is one that provides an opportunity for the individual to glean valuable insights and lessons from the event, subsequently utilizing this newfound knowledge to inform and enhance their future endeavors. A failure that is considered valuable is one that guides an individual towards a state of contemplation rather than despondency. Several instances of self-assessment include inquiries such as, “What caused my failure?” and “What missteps did I make?” Notably, entrepreneurship presents a unique predicament wherein one can solely acquire knowledge through practice. A central tenet of our institution’s entrepreneurial pedagogy is the notion that practical experience is the most effective means of acquisition and cultivation of entrepreneurial skills, while theoretical speculation alone is insufficient for comprehending the complex nature of entrepreneurship. The process of gaining knowledge about oneself, one’s capabilities, strengths and creative potential can only be achieved through proactive engagement and experiential learning. Simply put, one must learn by doing and reflect on the outcomes of one’s actions to truly understand themselves. The discernment of potential factors underlying failure, extraction of pertinent lessons, and receipt of impartial feedback from a prudent array of individuals such as a board of directors are essential elements. Such an approach enables one to regard failure as an efficacious one, thus effectively leveraging it to further personal progress. It is imperative to instill in entrepreneurs the notion that a well-executed failure is the type of failure that should be sought after.
The present discourse aims to expound on the concept of “failing forward.” The aforementioned failure can be deemed as productive since it entails a prospect of progress despite the initial misstep. The individual in question may have stumbled, but in the process of recovering, they transcend their prior state of being. The following is an illustrative instance of an individual of universal recognition having experienced a remarkably prosperous, yet constructive failure. In 1976, the establishment of Apple was initiated by its founder, Steve Jobs. Research indicates that Apple was responsible for the development and release of four notable computer systems, namely the Apple One, Macintosh One, Macintosh Two, and the third generation of Macintosh which suffered from a lack of success.
The appointment of a new CEO was necessitated due to the incumbent’s inability to depart from the organization in a manner befitting optimal corporate governance practices. The individual in question engaged John Sculley, then serving as the marketing director of Pepsi-Cola, for his professional services. The individual in question procured the services of a more experienced professional in their respective field to provide direction and guidance in the management of the company. The individuals in question established a close bond, yet encountered a circumstance that resulted in a challenge for managerial supremacy within the organization. There was an ardent desire on the part of Steve Jobs that every single cent generated by Apple ought to be directed towards funding the development of the newly conceived Macintosh. The aforementioned conduct yielded an unfavourable outcome. The individual asserted fervently that a reduction in the cost of the Macintosh 3 was imperative, thereby enabling the allocation of funds originally earmarked for the Macintosh 2 toward marketing initiatives geared towards enhancing the prospects of the Macintosh 3. John Scalley expressed dissent, positing that the Macintosh held significant monetary value for the enterprise and therefore could not be methodically disposed of. In order to maintain steady revenue streams, it is necessary to continue investing in advertising for the Macintosh. However, it is imperative that we relinquish our attachment to the Macintosh 3. Upon reaching a consensus with John Sculley, the Board of Directors terminated the employment of Steve Jobs.
There are two possible occurrences that could have taken place. Had Steve Jobs possessed the financial resources to either opt for a modest enterprise or to take up secondary interests after retirement, he would have had the opportunity to learn from this error. Alas, he elected to follow a different path. The entrepreneur in question embarked on a venture by establishing a nascent enterprise, denominated as Next, with the primary intent of procuring computer systems. The subsequent venture exhibited a lower degree of success in comparison to Apple. In due course, the aforementioned individual divested Next to Apple for a sum approximately equivalent to five hundred thousand dollars, subsequently initiating another enterprise by the name of Pixar. Subsequently, he utilized the insights gleaned from John Sculley and assimilated effective strategies for collaborating with individuals. The individual acquired the capability to effectively articulate and hold dissenting opinions while concurrently developing a tendency towards decreasing levels of authoritarianism. During that particular season, specifically in the year 1997, Steve was re-employed from Pixar to assume the position of Chief Executive Officer at Apple. Upon his arrival, John Sculley asserted that he had improved upon the previous management of the company, as he expressed in his own words. It can be observed that the return and prolonged tenure of Steve Jobs at the company is attributed to his ability to learn from his previous unsuccessful endeavors. Consequently, his transformation into an improved individual and a more capable Chief Executive Officer became evident. Upon Steve Jobs’ admittance to a financially waning corporation, the corporation experienced a rapid acceleration of growth. The cultivation of Apple resulted from the founder’s ability to draw valuable lessons from a previous experience of setback, which can be categorized as a constructive failure, and to persist resolutely towards success.
The current discourse aims to advocate for the promotion of entrepreneurship among startup enthusiasts through the utilization of podcasts as an educational resource. It is imperative to assuage any apprehension towards the possibility of failing. Undoubtedly, failure is recognized as an inextricable component of the journey. The present inquiry that I recommend you pose to yourself pertains to your level of maturity, responsibility, and introspection. Specifically, are you adequately developed in these areas to encounter failures that engender positive outcomes as opposed to negative ones? This concludes my presentation for today. I anticipate the prospect of expounding on additional pivotal areas of concern pertaining to startup ventures with you. It is hoped that one experiences an abundance of blessings.
The divergence between a good failure and a bad failure is largely dependent on the individual’s attitude. In order to yield truly beneficial results from a failure, it is necessary to be genuine in one’s pursuit of knowledge and to remain focused on obtaining the ultimate goal. Furthermore, it is crucial to be equipped with the emotional fortitude to learn from one’s mistakes, be open to constructive criticism, and take into consideration any external forces that may have contributed to the failure.
In the long run, a good failure is a positive sign that one is not only growing, but also gaining an understanding of their startup. The experience of a good failure can be utilized to mature emotionally and professionally, to recognize and understand the present, and to chart a better path for the future. In sum, the benefits of good failure far outweigh the costs of a bad failure, and that is why it is important to strive towards understanding the distinction between the two.